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 […]
White labelled tax advice
Working with the C&D team allows firms to offer complex and comprehensive taxation advice without the expense of full time technical staff. We offer a mechanism that allows firm to delivery our advice as branded for the firm, with clear explanations and simplistic operative structures. Our advice is written in line with your firm’s expectations […]
Taxation of Cryptocurrency
Craig Dangar looks at the consequence of crypto currency from the perspective of taxation and how it can be treated. 1. A cryptocurrency similar to Bitcoin is not a “currency” for tax purposes The ATO in its published guidelines states that Bitcoin is not a currency, but rather is treated as an asset, the price of […]
Behind in superannuation payment
A good sign of problems in the business are that you are behind in your superannuation for staff, and it is one area that things can escalate quickly. Industry funds Where you have staff that are members of an industry fund, if payments are made late, the fund can commence recovery proceedings, either through court […]
Estate Planning Through Superannuation
An old presentation that has relevance today, a presentation given to the Taxation Institute by Craig Dangar. This presentation covers: taxation treatment of superannuation upon death beyond superannuation – what next? strategies available death benefit nominations and rules how iron-clad are they? what needs to be done to set one up?
Best decision of my life
We received a letter recently from a client we assisted move into bankruptcy, as background he had been unsuccessfully running a franchised business for five year, paying $2,500 a month in franchise fees to be a handyman, he had not made any money for three years and not drawn a salary since 2016. “Hi Craig, […]
Why is a will important
The NSW Trustee and Guardian estimates that at least 45% of individuals have not yet made a valid will, and it has been claimed that 60% of Australians die without a will. What is a will and why is it important? A will is a legal document that clearly states how you want your assets […]
But my Credit Rating!!?!
In dealing with your financial position there is often a concern over your existing credit rating and what the impact of a restructure will be. We recently assisted a business owner that had a judgement as well as four default listings for the business and was on the precipice of bankruptcy, the concern was being […]
Land Tax Western Australia
Land Tax – Western Australia Generally the land tax position in Western Australia is: Rates Land tax rate scale Aggregated Taxable Value of Land Rate of Land Tax Not Exceeding $0 $300,000 Nil $300,001 $420,000 Flat rate of $300 $420,000 $1,000,000 $300 + 0.25 cent for each $1 in excess of $420,000 $1,000,000 $1,800,000 […]
