Is your dental practice in need of a brush and floss?
We have a lot of dentist clients who have downed tools during the Level 3 restrictions. One thing they have in common is that they’re making lemonade out of lemons and getting their practices ‘shipshape’ for when the restrictions are downgraded back to Level 1 or 2. If this sounds like you, read on!
Avoid Surcharge Land Tax in NSW – Exclude Foreign Beneficiaries from Your Discretionary Trust
If you hold residential land in NSW in a discretionary trust, chances are you will be subject to surcharge land tax due to changes that take effect at midnight on 31 December 2019. We can help you avoid the surcharge.
Surcharge Land Tax and Discretionary Trusts in NSW
If you hold residential land in NSW in a discretionary trust, chances are you will be subject to surcharge land tax. We can help you avoid the surcharge.
When should directors be personally liable for tax debts?
As a general rule, a company provides its shareholders with ‘limited liability’. This means that the extent of resources a shareholder risks when they invest in an enterprise is limited to the amount of capital they put into the company (or agree to put in). If the company runs out of resources, or gets hit with a nasty surprise, the capital may all be lost, but the shareholders are not obliged to put anything additional in. They have just ‘done their doe’.
The limitation of liability for shareholders has not really changed much over the centuries that limited liability companies have been around. What has changed, is the role and responsibility of directors.
The simple truth about capital gains
Previously, politicians (most recently, the Shorten Opposition) have proposed halving the CGT discount to 25%, or maybe eliminate it completely. Is this a good idea? Andrew Andreyev shares the simple truth
Four ways to challenge Director Penalty Notices
The ATO is using Director Penalty Notices more often. However, the ATO officers are only human and they can make mistakes. There are four main ways in which your DPN may be challenged.
What is Division 7A really all about?
If you have a company then you have probably sat in a meeting with your accountant and heard the phrase ‘that may raise Division 7A issues’. Everyone usually then grumbles and nodes wisely, and moves on… But you may be asking yourself, ‘what the hell is Division 7A all about?’ Glad you asked.
The Personal Property Securities Register (PPSR) in a nutshell
The Personal Property Securities Act (PPSA) is the legislation that governs everything about security interests in personal property, which is almost all property that is not land.
The broad purpose of the PPSA is to create a system for the registration of security interests, which is searchable by anyone and which can then be enforced against other parties. This register has been formed as the Personal Property Securities Register (PPSR).
Why are company ‘tax cuts’ anti-Australian and next to useless?
We are not advocates of higher taxes. But, we are advocates of honest tax policy. So read ‘company tax cut’ as essentially a reduction in Australian tax on foreign investment. Full stop.
FBT and Not-For-Profits – ‘salary sacrificing’, without the sacrifice
One of the big benefits of being a not-for-profit organisation (NFP) is the availability of tax concessions. But are you making the most of the concessions available to your organisation?