The recent cut to the tax rate for small incorporated businesses, while generally welcomed, can bring with it some important considerations when it comes to distributing franked dividends. The rate change to 28.5%, which applies from July 1, 2015, means…
Christmas will be here before we know it, and it is likely that better organised employers will already be thinking about their yuletide preparations. But while you should feel free to pop a champagne cork or three for your employees,…
Building a new home? Is it exempt from CGT? There is a concession in the CGT rules that can allow a taxpayer to treat a property as their “main residence” even though it does not yet have a habitable dwelling.…
Creating and maintaining a website is expensive because it’s complicated. Lots of small businesses pay hefty costs to have their sites run because they don’t have the time or expertise to do it themselves. So here is some guidance on…
Building a new home? Is this exempt from CGT? It is a widely recognised fact that capital gains tax does not apply to a taxpayer’s main residence. One of the requirements for the exemption is that there needs to be…
Since July this year, scams targeting both individual and business taxpayers have been running rife. From fake Tax Office “delayed return” or “proof of identity” emails to telephone calls conveying similar requests, taxpayers have had to keep their guard up. …
Tax Office targets expats who claim non-resident status The Tax Office has sent letters to people living overseas who have made claims as non-residents for tax purposes. The pro-forma letter asks for a response within 28 days to establish that…
DISCLAIMER:All information provided in this publication is of a general nature only and is not personal financial or investment advice. It does not take into account your particular objectives and circumstances. No person should act on the basis of this…
There will in all likelihood come a time when you will need to wind up your self-managed superannuation fund (SMSF). The reasons for winding up are many and varied but could include: there are no members left – they may…
As though business owners and principals don’t already have enough on their minds, the words “slowing economy” are being heard around the barbecue again — just to add to the list of excuses for not sleeping well at night. Company…