Posts

126 | Tax Talks Q & A

This  Tax Talks Q & A goes through 10 questions and comments you sent in up to April 2019.

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.

Basic Conditions When Selling Shares or Units

71 | New Basic Conditions When Selling Shares or Units

The basic conditions for small business CGT concessions have tightened. Adrian Bailey of Cleary Hoare will walk you through the changes.

How to exit

67 | How to Exit

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. 

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. 

Earnout Arrangements

49 | Earnout Arrangements

Most professional practices sell with an earnout arrangement. Patrick Huang of Argyle Lawyers will tell you how to treat these for tax purposes.

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.

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.

NSW payroll tax exemptions and rebates

24 | NSW Payroll Tax Exemptions And Rebates

Payroll exemptions and rebates are not harmonised across Australia. Here are Andrew Fricot and Ankur Dhar of Revenue NSW with the details. 

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.

Grouping Provisions

21 | Payroll Tax Grouping Provisions

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.

payroll tax contractor provisions

12 | Payroll Tax Contractor Provisions

Payments to contractors can be subject to payroll tax if paid under a 'relevant contract'. Andrew Fricot and Ankur Dhar of Revenue NSW will tell you more.

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

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.
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.
Affiliates and Connected Entities

58 | Affiliates and Connected Entities

The concept of affiliates and connected entities plays a crucial role around the small business CGT concessions.
Subdiv 328-G

56 | Subdiv 328-G

The restructure rollover in Subdiv 328-G is a useful tool in the arsenal of tax concessions assisting small business.
unit trusts fixed

43 | Are Unit Trusts Fixed

A unit trust is a very common feature in Australia. Most widely held trusts are unit trusts. But when are unit trusts fixed trusts and when not?
Basic Conditions

37 | 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.
Who Pays the Income Tax for a Trust

34 | Who Pays the Income Tax for a Trust

Beneficiaries and/or trustee pay the income tax for a trust. But who pays how much?
Division 6 ITAA36

31 | Division 6 ITAA36

Division 6 ITAA36 is the foundation for the taxation of trusts. Everything else wraps around Division 6.
Trust

30 | What is a Trust

There are more than 800,000 trusts in Australia with assets totalling more than $3 trillion. But what is trust?
tax audits

28 | 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.
are tolls car or travel expenses

22 | Are tolls car or travel expenses

Tolls are travel expenses and subject to GST (just in case you were wondering). And it makes sense when you think about it.
CGT discount

21 | 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.
Net Capital Gain

20 | 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

19 | 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. 
Tax Rulings

18 | Tax Rulings

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

17 | 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

16 | Tax Evasion

Tax evasion is a heavy word. Accuse somebody of tax evasion and you surely get their attention. But what is tax evasion?
Amendment Periods

15 | Amendment Periods

Amendment periods can work for or against you, depending on who wants to change what and when.
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.