Choosing a Structure in a Foreign Country depends on the after-tax result in the Australian Investor’s hands. Here’s why!

Current as of 28th January 2021     Choosing a Structure in a Foreign Country depends on the after-tax result in the Australian Investor’s hands. Here’s why! When choosing the optimal foreign structure for your expanding business, several factors must be considered but the global tax outcome is always one of the most important. Understanding the global tax outcome requires … Read More

Are you treating your long-term construction contracts correctly for tax purposes?

Current as of 28th January 2021   Are you treating your long-term construction contracts correctly for tax purposes? A long-term construction contract refers to a contract under which construction work extends beyond one year of income, but it can also refer to a contract which runs for less than 12 months but straddles two income years. The word “construction” takes … Read More

Franking Credits should Labour win the next election

CURRENT AS AT 26 November 2018   With an election year coming up in 2019 and the possibility of a new government should Labour win, it is worth being aware of what tax changes may occur on a change in government.  Bill Shorten has made it clear in his policies that franking credits refunds may be in jeopardy under a … Read More

Trust Vesting

Current as of July 2018 We have had a few situations recently with client’s trusts getting close to the vesting date of the trust. The vesting date of a trust is the date that the assets of a trust vest in the beneficiaries. On vesting, the beneficial interests in the assets become fixed. The ATO issued draft tax ruling (TR … Read More

Tax issues for Cryptocurrencies

Current as of March 2018   The world is fascinated with cryptocurrencies. While they have been around for several years now, the recent growth and volatility of Bitcoin and other cryptocurrencies has meant they’re now frequently in the news. The ATO has also taken an interest, and has released quite detailed guidance on the tax treatment of crypto-currencies in various … Read More

Audit, assurance, or something in between?

Current as of March 2018   In recent times, the audit profession has become the subject of increased scrutiny and questions around its purpose, capability and quality of output. There has also been a marked change in the perceptions around the purpose of an audit, and its benefits –it’s now almost a cliché that an audit is perceived as an … Read More

Are you in the building & construction industry?

Current as of February 2018   If you are in the building and construction industry you will need to be registered with the NSW Long Service Corporation. (Other states have similar schemes). The scheme is available to employees, employers and self-employed. It provides portable long service benefits for eligible workers in the building and construction industry. The scheme allows eligible … Read More

How long do I have to keep my tax records for?

Current as of October 2017   By law, you must keep business and taxation records generally for five years from the later of when they are prepared, obtained or the transaction is completed. For those with very simple affairs you may be able to retain your records for only two years, however things are not necessarily that straightforward. Simple individual … Read More

Share Transfer vs Share Buy Back – what’s the difference?

Current as of April 2017   Where two or more unrelated shareholders trade through a company, there often comes a time where they part ways, presenting a need for one of the shareholders to exit the company. Broadly, this can be achieved either by the departing shareholder selling his shares to the remaining shareholder, or alternatively by the company itself … Read More