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Peer to Peer Car Sharing

The Australian Taxation Office (ATO) has recently updated their website to advise and/or remind taxpayers that when they rent, hire or share their car through a ‘peer to peer’ car sharing platform (i.e., such as Car Next Door, Carhood or DriveMyCar Rentals,) they may:...

What is a Blind Trust?

This special type of trust has numerous meanings. In the UK and other parts of the world, a blind trust operates like any other trust but the beneficiary of the trust has no knowledge of what assets are kept within the trust. In Australia, a blind trust is the term...

Recent Tax Case – Taxpayer Denied Deductions for Share Losses

The Federal Court has in Greig v FCT held that a taxpayer was not entitled to a deduction under S.8-1 of the ITAA 1997 for share losses and legal fees. Facts On the advice of his financial advisers, the taxpayer (Mr Greig) spent many millions of dollars on share...

What does the China/US trade war mean to Australia?

As the bilateral trade war between the US and China heats up, we look at what this might mean to Australia caught between its cultural and military ties to the US and its strong economic relationship with China. In 2017, the US imported well over $500bn worth of...

What is a Bare Trust?

A bare trust arises where the trustee simply holds property of and on behalf of the beneficiary without any interest therein, other than that existing by reason of office and the legal title as trustee. The trustee has no discretion and no active duties other than to...

Foreign Investment Review Board (FIRB) Approval

Do you hold a foreign country passport and are you planning to invest in Australia? Approvals by Foreign Investment Review Board (FIRB) may be required prior to finalising your investment decision. Purchasing residential real estate Under Australia’s foreign...

Property Investment – Buy, Sell or Hold

The Australian property market has declined in value by 2.2% over the past twelve months. Maybe this poses a buying opportunity for some or a selling necessity for others. The table below illustrates the change in property values over the past twelve months by capital...
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