Draft legislation released last month will see Director’s become personally liable for the superannuation guarantee (SG) payments of employees. The change is part of a suite of reforms designed to target phoenix companies but the reforms, if enacted, will have a much broader impact.
A phoenix company is the deliberate li... |
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Social media allows every comment, word, thought, and rant of an individual to be accessible to the world. Everyone can have a say and much of what is said is often given credence regardless of the source or weight of evidence. At its best, social media gives every David a forum to beat Goliath. At its worst, the faceless ps... |
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The ATO use industry benchmarks to assess business performance and will take a closer look at businesses that fall outside of these benchmarks. But what happens if you have a niche business or have unusual trading conditions that mean you will almost never fall within these benchmarks?
This is the major problem with the current benc... |
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A lot of family businesses use discretionary trust structures. These have been popular because they provide both a level of risk management, separating the business from your personal assets, and are also quite tax efficient. A discretionary trust allows the trustee to appoint the income of the trust (this is typically the profit ... |
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The most common Capital Gains Tax (CGT) event that happens to real estate is its sale or disposal. The time of the event is:
when you enter into the contract for the disposal
if there is no contract – when the change of ownership occurs, or
if the asset is compulsorily acquired by an entity; the earliest of :
when... |
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