What Capital Gains Tax will my family have to pay once I’m gone?

Current as September 2015 Capital Gains Tax (CGT) is not payable as a result of your death, but your beneficiaries pay CGT if it is applicable, when they sell the assets they have inherited. They inherit your cost base if you acquired the asset on or after 20 September 1985. If you acquired it before that date, your cost base … Read More

CGT rules for non-residents

Current as of April 2015 Non-residents are only subject to Australian CGT on Taxable Australian Property (TAP). TAP includes: direct and indirect interests in real property situated in Australia business assets used in an Australian branch an option to acquire any of the above a CGT asset elected by an individual to continue to be subject to Australian CGT after … Read More

Plan your business sale early to maximise your after tax return

Current as of December 2014 Last month we discussed retirement planning, and the need to get in early to make sure you’ve done all you can to maximise your wealth and can enjoy the lifestyle you want when you retire. For entrepreneurs, part of this is regularly reviewing your business structure to ensure that it provides both asset protection and … Read More

CGT concessions available to small businesses

Current as of December 2014   On 21 September 1999 the tax office brought in measures to assist the small business community and effectively provide concessions on the amount of Capital Gains Tax (CGT) payable on the sale of a business. There are four main concessions available which we will discuss below. To access any of these concessions there are … Read More