Foreign Land Tax – NSW
We are looking at the imposition of foreign land taxes across the Australian jurisdictions. Foreign ownership in New South Wales occurs when a foreign entity purchases residential land. When dealing with land tax in New South Wales if there is a foreign party that owns the assets, specific rules need to be followed. In New […]
What is a garnishee notice?
Garnishee notices can be issued by a variety of creditors however they are quite regularly used by the ATO as a method of collecting outstanding tax debts. The ATO issues the notices pursuant to Section 206-5 of the Taxation Administration Act 1953 and the notice allows the ATO to collect its outstanding tax debts by […]
Succession planning for family businesses
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 […]
C&D Taxation Consulting
Specialising in transaction and complex tax advice, the team has over 20 years experience in taxation consulting. Our whitelabelled service is ideal for smaller accounting practices that are looking for a solution rather than outsourcing or out referring client matters. We can tailor a solution to any client matter with spread across Federal and State […]
Navigating the insolvency maze
For small businesses looking at their options the path of insolvency can be one that has many directions and lots of turns. Getting advice is the key, as what may seem the simplest option may actually have unforeseen or unexpected outcomes. Issues such as personal and director liability, cross collateralisation, personal guarantees or aggressive terms […]
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Who does the broker work for?
We recently came across a strange situation where we questioned who the broker actually works for when things go awry. The scenario was that our client had borrowed money from a third tier lender, and their business was placed in liquidation, at the same time, the broker proposed a lending package that would cover the […]
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Step up in garnishee notice activity
Over coffee with a liquidator this week we were confronted with a serious change in policy with respect of garnishee notices and the approach of the ATO. Since the start of the financial year there has been a concerted approach by the Commissioner to reduce revenue leakage and this has meant that there is an […]
Contractor or Employee?
It is necessary for employers must know whether their workers are employees or contractors because the tax, superannuation and other government obligations change depending on the worker’s status: If a worker is an employee, PAYG withholding will need to be withheld from wages. The employer must report and pay the withheld amounts to the ATO, pay […]
