In this episode Andrew Henshaw of Velocity Legal in Sydney will answer three Div 7A listener questions.
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Entries by Heide Robson
When does a UPE become a Div 7A UPE? Andrew Henshaw of Velocity Legal in Sydney will give you an answer.
Here are 10 easy ways to fix Div 7A issues. This is an edited extract of Tax Talks episode 50 with Peter Adams.
Div 7A tries to stop cash leaking from private companies to shareholders and associates outside of dividend payments.
Only services connected with ITZ (indirect tax zone) can possibly be subject to GST. If a service is not connected with ITZ, it can’t be a taxable supply.
Incoterms are pre-defined commercial terms published by the International Chamber of Commerce.
Whether a testamentary trust is a good idea or a waste of your time depends on the size of your estate, your intentions and your beneficiaries.
On the 1 July 2018 a new approach to the non-arm’s length concept came to life. Non-arm’s length expenses (NANE).
ITAA97 NANI is overlooked but dangerous. s295-550 ITAA97 doesn’t get much limelight but is more dangerous than s109 of the SIS Act.
Business advisory will allow you to avoid competing on price. Here is Mark Holton of Smithink with more.
This Tax Talks Q & A goes through 10 questions and comments you sent in up to April 2019.
Labor wants to change negative gearing, CGT discounts and franking credit refunds. Here is Gordon Mackenzie of UNSW with more.
Qualifying for the age pension is an arduous exercise as you need to pass four hurdles. Let’s go through these one by one.
Why do we need a separate Medicare levy in Australia? In this episode Bob Deutsch of The Tax Institute will try to give you an answer.
Property vs shares – how are they taxed differently? Bob Deutsch, Senior Tax Counsel of The Tax Institute, pursues this question.
A life and remainder interest is often used in a testamentary setting. Here is Michael McCarthy of Tax & Super Australia with more.
A deceased estate entails a myriad of legal and tax questions. Here is Michael McCarthy of Tax & Super Australia with the answers.
Binding death benefit nominations are an important part of SMSF succession. Daniel Butler of DBA Lawyers will tell you more.
How does SMSF succession work? Daniel Butler of DBA Lawyers in Melbourne gives you a helpful overview and shares some war stories. Here is what we learned.
Australia ratified the OECD’s Multilateral Instrument in September 2018. Simon Dorevitch of A & A Tax Legal Consulting will tell you what happens next.
The multilateral instrument is to stop base erosion and profit shifting. Here is Simon Dorevitch of A & A Tax Legal Consulting with more.
Multinational base erosion and profit shifting harms Australia through lost tax revenue. Here is Simon Dorevitch of A & A Tax Legal Consulting with more.
Investors in ESICs receive generous tax concessions. Here is Simon Dorevitch of A & A Legal Tax Consulting with more.
The R & D tax incentive is about to change. Simon Dorevitch of A&A Tax Legal Consulting will tell you more.
The Board of Taxation is currently reviewing Australia’s small business tax concessions. Here is Dr Mark Pizzacalla with more details.
Chances are the Board of Taxation has featured in your work before. But what does the Board actually do? Here is Dr Mark Pizzacalla with the answer.
The accountants’ exemption is dearly missed. But there are rumours that it might come back. Here is Ron Lesh of BGL with more.
How do you finance aged living? John Saunders of The Pittwater Partnership will walk you through RAD, DAP and the lot.
How do we support aged living in Australia? John Saunders of The Pittwater Partnership will walk you through the options.
Did you ever think about doing a Master of Taxation? If yes, this episode is for you. Michael Walpole of UNSW will give you a helpful overview.
Whenever there is tax, there is ethics. Here is Michael Walpole, UNSW’s Head of School of Taxation and Business Law with more.
How do you value goodwill for tax purposes? Here is Michael Walpole of UNSW with some thoughts.
The top 10 SMSF hot spots for July to October 2018 cover a wide range of topics. Here is Miranda Brownlee of SMSF Adviser.
Trust income streaming is an important feature of non-fixed trusts. Here is Paul Mackenroth of Cleary Hoare with the details.
The taxation of trusts lives in the ‘old’ ITAA36. Paul Mackenroth of Cleary Hoare in Brisbane will walk you through the framework of Division 6.
Family trust elections play an important role but are not a one-size-fits-all solution. Paul Mackenroth of Cleary Hoare in Brisbane will tell you more.
Section 102 of ITAA36 about revocable trusts is an anti-avoidance provision. Paul Mackenroth of Cleary Hoare in Brisbane will tell you more.
To minimise tax you need to maximise your exempt current pension income (ECPI). Melanie Dunn of Accurium will tell you how.
Not every SMSF needs an actuarial certificate. Whether you do or don’t depends on a range of things. Here is Melanie Dunn of Accurium with the details.
A fund has disregarded small fund assets when a member’s TSB in retirement phase exceeds $1.6m. Melanie Dunn of Accurium will tell you why this is relevant.
To segregate or not – that is a big question and affects ECPI. Melanie Dunn of Accurium will walk you through the details.
How do you finance business growth? What options do you have when a mortgage or bank loan is not an option? Here is Jeff Zulman of Trailblazer Finance with the answer.
There are over 800,000 trusts. Paul Mackenroth of Cleary Hoare in Brisbane will walk you through the elements of a trust.
Registering a trademark might be the best way to protect your brand. Aaron Walters of IP Australia explains why.
A CGT rollover might be a great option when you can’t get your hands onto a small business CGT concession. Here is Adrian Bailey of Cleary Hoare with the details.
Government grants can help our clients to prosper and survive. They can save our client’s cash flow position. Here is Stuart Smith of Vebiz with the details.
The small business CGT concessions are one of the most generous tax concessions in Australia. Adrian Bailey of Cleary Hoare will guide you through the details.
What is Mclowd’s 2020 vision? Where are they heading? Here is Ashley Porter, the CEO of Mclowd with the details.
The basic conditions for small business CGT concessions have tightened. Adrian Bailey of Cleary Hoare will walk you through the changes.
What will future SMSF practices look like? How will they grow and adapt? We asked Aaron Dunn of Smarter SMSF to give us an insight.
Every time you listen to Tax Talks, you earn CPE. That is just one of many things Ian Taylor of the TPB will clarify for you.
How do you exit our practice? What do most practitioners do? We asked Steven Fine of Growth Focus to walk us through the options you have.
We all need to decide where we stand regarding financial advice. One option is to engage a digital financial advice platform. Jim Hennington of ASAP has more.
The Code of Professional Conduct affects us all. Here is Ian Taylor, the Chair of the Tax Practitioners Board, with the details.
What is legally valid when signed electronically? Christine Ecob and Georgina Xiradis of JWS will walk you through the legal framework.
The rules around property depreciation are confusing at the best of times. Bradley Beer of BMT will walk you through the ifs and whens of property depreciation.
Miranda Brownlee writes for SMSF Adviser and covers over 20 stories a week, all about SMSF. We asked Miranda what happened in May. Here is what we learned.
How does one register as a tax practitioner? Here is Ian Taylor, the Chair of the TPB to walk you through the process.
The story of Mclowd starts like many other successful start-ups. Mclowd was born out of an attempt to “scratch its own itch”. Ashley Porter was there.
When do you need an acknowledgement of trust in an SMSF? Heide Robson will talk you through different scenarios re compliance with s52(2)(g) of the SIS Act.
Do you know what the TPB actually does, how it is structured and financed? We didn’t. So we asked Ian Taylor, Chair of the TPB. Here is his answer.
The Story of Class is not just about Class. It is also a story about the SMSF industry and us. Kevin Bungard of Class will tell you how it all started.
The super reform is done and dusted, but some issues still raise their head. Daniel Mikhail of Partners Wealth Group will discuss those with you.
Div 7A debt forgiveness is less common than Div 7A loans and payments, but still important to get right. Peter Adams of Augmentors will discuss the details with you.
Div 7A payments can turn into an expensive exercise. Including transfer or provision of company assets. Peter Adams of Augmentor will tell you what this is all about.
You could summarise the basic concept of Div 7A loans in one sentence. But there is a lot more to it. As Peter Adams of Augmentors will tell you.
Most professional practices sell with an earnout arrangement. Patrick Huang of Argyle Lawyers will tell you how to treat these for tax purposes.
At the very start it sounds easy. You just go and buy what you need. But it isn’t easy. Steven Fine of Growth Focus will walk you through the process.
Pension strategies post 1 July 2017 have changed. Daniel Mikhail of Partners Wealth Group will guide you through the different options.
It is worth looking over the fence for ideas. Here are Paul Baker and Zile Yu discussing innovation in the legal industry and at Meridian Lawyers.
Online SMSF auditing software is the way of the future. Manoj Abichandani of onlinesmsfaudit.com.au will tell you why and how.
Offshoring has a negative connotation. But it doesn’t have to be this way. Mike O’Hagan of Mike’s Buiness Tours will show you the options you have.
You probably will only ever sell your practice once. So no practice runs. Steven Fine of Growth Focus will show you the top 10 mistakes sellers make.
Buying or selling a business? Common pitfalls are not rocket science but easily overlooked. Patrick Huang of Argyle Lawyers will guide you around these.
How do data feeds actually work? Kevin Bungard and Tom Sargent of Class will give you a unique insight.
Personal insurance inside or outside of Super? Mistakes can cost dearly. Daniel Mikhail of Partners Wealth Group will guide you through the intricate details.
Legal documents cost time and money. How much depends on where we go. Let Manoj Abichandani of trustdeed.com.au share some thoughts with you.
If you want to sell your accounting practice, do you know how? Steven Fine of Growth Focus runs you through the process with valuable advice on the way.
Tax havens start talking to the ATO thanks to the new Common Reporting Standards. Ben Sewell of Sewell & Kettle provides a helpful overview.
“Improving the Small Business CGT Concessions” is the title of a new exposure draft. Patrick Huang of Argyle Lawyers will walk you through the details.
The R&D Tax Incentive can help companies to survive and prosper. But how? Kevin O’Hara of Techwitty will walk you through the details.
If you could change one thing about the Australian tax system, what would it be and how? Robert Deutsch of The Tax institute asked that question.
Is it debt or equity? Scott Treatt of Pitcher Partners will walk you through Div 974 that governs the classification of debt and equity.
The December 2017 Class SMSF Benchmark Report is a great read. Kevin Bungard of Class will share valuable insights with you.
The Panama Papers were the scandal the world had to have. In this episode Ben Sewell of Sewell & Kettle in Sydney tells us how it happened and what it meant.
Car parking can turn into a fringe benefit over time. Claire Thornett of WLF will tell you how, when and to what extent.
How did BGL start? Where is it now? And where to from here? Ron Lesh of BGL will take you from the past to the future.
How do you set up shop in an offshore tax haven? Ben Sewell of Sewell & Kettle shows you what it takes and a few more things along the way.
Are we as tax advisers allowed to partially commute balances from pension back to accumulation? Here is David Moss of Merit Wealth on this issue.
Payroll exemptions and rebates are not harmonised across Australia. Here are Andrew Fricot and Ankur Dhar of Revenue NSW with the details.
Mortgage brokering is a $344b industry right in front of us in the supply chain. Here is Jonathan Preston of Home Loan Experts with more insights.
Meal entertainment is confusing. There are so many moving parts that it is easy to lose track. Claire Thornett of WLF in Hobart is here to take us out of this confusion.
The payroll tax grouping provisions play a huge role. Here are Andrew Fricot and Ankur Dhar of Revenue NSW with the ins and outs of grouping.
Can a TRIS converts to an ABP or does it need to stop and start? David Moss of Merit Wealth discusses the current status of this issue.
According to the ATO the sole purpose test is the most commonly breached rule. Manoj Abichandani of Online SMSF Auditor discusses the issue.
To sort out the tax side of a relationship breakdown, it helps to understand the legal side. Here is Angelina Torrisi of Family Law Practice.
The super reform changed estate planning within the SMSF environment. Here is Chloe Ward of Intello giving you an overview.
FBT can be complicated and confusing. Claire Thornett of WLF will give you a comprehensive overview of the FBT system in Australia.
Events based reporting experienced an impressive turnaround. In this episode Ron Lesh of BGL will tell you how this came about.
How does the US tax system affect the Australian spouse of a US citizen or Green card holder? Jane Bruno of Bruno American Tax Services will give you the answer.
Tax Talks is Australia’s tax news podcast for tax professionals. Informative, entertaining and free.