Our Services – Estate Planning
The team at C&D offer a comprehensive taxation based estate planning advisory structure, working closely with our external professional legal firms to supply a comprehensive service. Global analytic view We work without our accounting partners to examine the overall position and determine the taxation outcome before delving into the estate planning process. We look at […]
Salary packaging still tax effective
With many households feeling the squeeze of financial pressure, employers may find that their staff are enquiring about their salary packaging options. Salary packaging is still a tax effective option for both employees and their employers, however caution must be had as to the types of benefits that are packaged. The packaging of Fringe Benefits […]
Basics of trusts
What is a trust? This is probably the most misunderstood aspect of trusts. A frequently held, but erroneous view, is that a trust is a legal entity or person, like a company or an individual. A trust is not a separate legal entity or person at all – it is essentially a relationship that is […]
Vehicles and FBT
Restrictions on reducing Fringe Benefits Tax (“FBT”) on car expense payments From 1 April 2016, the “otherwise deductible” rule has changed for car expense payment fringe benefits (i.e. where an employer meets or reimburses an employee for fuel or other running expenses). Previously, employers could elect to reduce the taxable value of car expense benefits […]
Detail of Personal Services Income (PSI)
What are the PSI Rules meant to do? The rules were designed to improve the integrity of the tax system by addressing both: The capacity of individuals and interposed entities providing the personal services of an individual to claim higher deductions than employees providing the same or similar services; and The alienation of personal services […]
2018 Federal Budget
The item that may receive the most analysis from the whole of this year’s federal budget will be the increase of the 32.5% tax bracket, and an expansion of the Low Income Tax Offset. A win for small businesses in this year’s budget sees the retention of the $20,000 instant asset write-off for another 12 […]
FBT for Schools
You may be aware that draft Taxation Ruling TR 2018/D2, Fringe benefits tax: benefits provided to religious practitioners (‘TR 2018/D2’) was recently issued for comment. It seeks to provide guidance as to the application of the FBT legislation in respect of whether benefits provided to religious practitioners of religious institutions may be treated as exempt […]
Basics of Personal Services Income (PSI)
How do the Personal Services Income Rules work? If 80% or more of the PSI comes from one source, the results test must be passed. Otherwise, the business is not a PSB and the PSI rules will apply. If less than 80% of the PSI comes from one source, the business will be a PSB […]
Family succession planning for business owners
For many business owners, the objective is to pass a profitable and successful business through to the next generation, but this is not something that simply happens and the planning you undertake for a business sale should be similar to transferring a business within the family group. If you are a business owner, you may […]
Conversations about estate planning
The role of a practitioner is to identify and address issues in the affairs of a client, but the conversation about estate planning is one that many put off until too late. How does the conversation start? Understanding your client and how they are operating is a key starting point. In looking at their business […]
