Posts

Company Capital

272 | Company Capital

For small to medium companies the size and type of company capital usually doesn't matter. But sometimes it does.

Home-Based Business CGT

265 | Home-Based Business CGT

Is your home-based business CGT safe? Or will you be hit with a huge tax bill when you sell your family home?

Declaring a Dividend

262 | Declaring a Dividend

Declaring a dividend is not that straight forward. There are 5 steps to run through. And heavy penalties await if you get this wrong.

UPDATE 22 | Eichmann Decision

The Full Federal Court has overturned the Federal Court's Eichmann Decision. Here is Andrew Henshaw of Velocity Legal in Melbourne with more.

COVID-19 Contract Law

UPDATE 13 | COVID-19 Contract Law

What happens to contract law during COVID-19? Here is Geoff Stein of Brown Wright Stein Lawyers in Sydney with some insights.

App Ecosystem

230 | App Ecosystem

What should your app ecosystem look like? Here are Jeffrey Atizado of SMB Consultants and Clinton Cowin of TradiePad with some things to ponder.

Top 10 Podcasts for Australian Accountants in 2020

213 | Top 10 Podcasts for Australian Accountants

Let these top 10 podcasts for Australian accountants inspire you. You never know where you find the answer you are looking for.

151 | Div 7A Listener Questions

In this episode Andrew Henshaw of Velocity Legal in Sydney will answer three Div 7A listener questions.

Services Connected with ITZ

140 | Services Connected with ITZ

Only services connected with ITZ (indirect tax zone) can possibly be subject to GST as Simon Dorevitch of A & A Tax Legal Consulting will tell you.

Incoterms

139 | Incoterms

Incoterms are pre-defined commercial terms. Simon Dorevitch of A & A Tax Legal Consulting will tell you what they mean.

130 | Succession and Balance

Succession and work-life balance are often put aside and receive less attention. In this episode John Peterson will plead with you to make them part of your strategic objectives.

129 | Strategic Objectives

John Peterson discussed your mission, vision and values (MVV) in the last episode. This episode is about how get there by focusing on your strategic objectives. 

Family Trust Elections

95 | Family Trust Elections

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.

CGT Rollovers When Restructuring

78 | CGT Rollover

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

77 | Government Grants

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.

74 | Small Business CGT Concessions

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.

Div 7a Payments

51 | Div 7A Payments

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. 

Div 7A loans

50 | Div 7A Loans

Div 7A loans are tricky but there are ways out.  As Peter Adams of Augmentors in Sydney will tell you.

Offshoring to the Philippines

44 | Offshoring to the Philippines

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.

35 | Improving the Small Business CGT Concessions ED

"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.

R&D tax Incentive

34 | R&D Tax Incentive

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.

Debt or Equity

32 | Debt or Equity

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 Panama Papers

30 | The Panama Papers

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 fringe benefits

29 | Car Parking Fringe Benefits

Car parking can turn into a fringe benefit over time. Claire Thornett of WLF will tell you how, when and to what extent.

offshore tax havens

26 | Offshore Tax Havens

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.

mortgage broker

23 | Insights of a Mortgage Broker

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

22 | Meal Entertainment Fringe Benefits

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.

CFD

16 | What is a CFD?

CFDs are complicated. Jonathan Preston of HomeLoan Experts traded CFDs for quite a few years and will walk you through the ins and outs of CFD trading.

Bywater

8 | The Story Behind the Bywater Case

We have all heard of Bywater, but what actually happened? How was it set up? And how did the ATO find out about it? Here is Robert Campbell of McLeod Campbell & Associates with more.

Australia's tax residency rules

6 | Australia’s Tax Residency Rules are Broken

Something as fundamental as tax residency should result in a clear answer. But it doesn't. Too hard as Clint Harding of Arnold Block Leibler will argue. 

Payroll tax

1 | Payroll Tax

Most of Australia's payroll tax legislation is harmonised across Australia. Andrew Fricot and Ankur Dhar of Revenue NSW will show you.

Articles

small business CGT concession overview

89 | Small Business CGT Concession Overview

This small business CGT concession overview will give you a rough map of the most generous concessions for small business in Australia. 
small business tax concession

87 | Small Business Tax Concessions

Small business tax concessions are an important feature of the Australian tax system. Here is a summary of the top 21.
GST Codes

81 | GST Codes

GST codes have a direct impact on your net GST position and hence your cashflow, so it is important to get this right. Unfortunately, getting it right is not always that easy.
Passively Held Assets

74 | Passively Held Assets

Passively held assets can still qualify for the small business CGT concession. They may if used in the business of a related entity.
Div 43

73 | Div 43

The deductions under Div 43 make up the bulk of a property investors deductions. And the good news is that the changes to Div 40 don't affect Div 43.
Div 40

72 | Div 40

Div 40 is about the deprecation of plant and equipment. Since 2017 significantly curtailed but still better than nothing.
Div 7A UPE

70 | Div 7A UPE

The scenario of a Div 7A UPE can result in a huge tax bill.  UPE stands for unpaid present entitlement.
UPE in the Maximum Net Asset Value Test

69 | UPE in the Maximum Net Asset Value Test

How do you treat a UPE in the maximum net asset value test? Do you include it? And if yes for which entity?
The 4 Small Business CGT Concessions

68 | The 4 Small Business CGT Concessions

The 4 small business CGT concessions are a huge tax concession. They can save our clients a lot of tax, hence money. They can change a life. 
Active Asset Test

67 | Active Asset Test

The active asset test is an important part of the basic conditions to qualify for the small business CGT concessions. 
Subdiv 152-E

66 | Subdiv 152-E

The rollover relief in subdiv 152-E is often overlooked. After all, it isn't an exemption but only a rollover. But 152-E deserves more attention.
Subdiv 122- B

65 | Subdiv 122-B

Subdiv 122-B is the equivalent to Subdiv 122-A. 122-B provides rollover relief when changing from a partnership to a company.
Subdiv 122- A

64 | Subdiv 122- A

Subdiv 122-A ITAA97 is about changing a business from a sole trader or trust to a company. 
Div 7a

63 | Div 7A Basics

Div 7a is one of the most common issues we run into when working with private companies. How does Div 7A actually work? 
15-Year Exemption

62 | 15-Year Exemption

The small business 15-year exemption is the most generous of the four small business CGT concessions.
Structuring Business and Wealth

61 | Structuring Business and Wealth

When structuring business and wealth, tax is just one part of the equation. It is a balancing act of many objectives. And a question of priorities.
CGT Concession Stakeholder

59 | CGT Concession Stakeholder

The concept of a CGT concession stakeholder is fundamental to claiming a small business CGT concession involving a company or trust. 
Affiliates and Connected Entities

55 | Affiliates and Connected Entities

The concept of affiliates and connected entities plays a crucial role around the small business CGT concessions.
Basic Conditions

36 | Basic Conditions for an Asset Sale

The basic conditions are the biggest hurdle to take before you can claim the small business CGT concessions. If you get over these, you are on the home run.
tax audits

27 | Tax Audits

Tax audits frighten most taxpayers and tax agents. They cost time and money. And you never know for sure how it will end.
CGT discount

20 | 50% CGT Discount

The 50% CGT discount in Div 115 has saved millions of taxpayers billions of dollars since it was first introduced on 20 September 1985.
Tax Rulings

19 | Tax Rulings

 Tax rulings form an important part of Australia's tax framework. They plug the holes that our tax laws leave behind.
Net Capital Gain

18 | Net Capital Gain

Calculating your capital gain or loss is only the first part of the exercise. The second part is working out the amount of your net capital gain.
ATO Penalties and Interest

17 | ATO Penalties and Interest

The Commissioner has the power to levy administrative penalties against taxpayers. ATO penalties and interest are some of the Commissioner's powers to keep taxpayers in line. 
Lodging an Objection

16 | Lodging an Objection

Lodging an objection is a first step. When you don't agree with the ATO and want to do something about it.
Tax evasion

14 | Tax Evasion

Tax evasion is a heavy word. Accuse somebody of tax evasion and you surely get their attention. But what is tax evasion?
Commissioner's Effective Life of Depreciable Assets for 2019

1 | Commissioner’s Effective Life of Depreciable Assets for 2019

The Commissioner publishes a Taxation Ruling each year listing the effective life of depreciable assets. Here is a handy overview for small operators.