By Teigan Hutchison Summary: What happens to debts when you die? This article explores the treatment of different debts, such as HECS or education debts, outstanding tax owed to the …
Foreign beneficiaries and discretionary trusts
Does your family trust expressly exclude ‘foreign persons’ as potential beneficiaries? Chances are, it does not, and Revenue Ruling G010 (v2) from the NSW Commissioner of State Revenue suggests …
How ‘bucket companies’ work in family trusts
There is a common belief that family trusts have limited uses unless there are beneficiaries on lower rates of tax to distribute income to. In fact, some argue their purpose …
Unit trusts as a way to structure employee incentive schemes
We have previously touched on the importance of shareholder agreements for small businesses. But should owners/founders always use shares and shareholder agreements to incentivize employees? While employee share schemes are …
IP basics for startups
It can be very difficult and costly to restructure a valuable enterprise once it leaves the startup phase, so it is important to have the right structure from the start. …
Foreign Resident Capital Gains Withholding Tax
As and from 1 July 2016, all Australian Vendors of real estate with a market value of $2million or more must apply for a clearance certificate from the Australian Taxation …
What is Capital Gains Tax?
What is Capital Gains Tax? To understand Capital Gains Tax you need to know the difference between “income” and “capital”. In simple terms, the money you receive into your bank …
What Income is Taxed?
Normally, Australian residents will pay Australian tax on their worldwide income but non-residents will only pay Australian tax on income with an Australian source. An exception to the general rule …
Deciding on a principal place of residence
In a recent case, a parcel of land was found to be exempt from land tax where the land owner was living in a garage he had built on the …
Sub-divided farm land not exempt from GST
If you’ve owned farm land since before the introduction of capital gains tax, you might expect that the significant capital gain you stand to make in selling part of your …
- Page 1 of 2
- 1
- 2
