Telstra 2014 share buy-back – The Tax Effect

Telstra 2014 share buy-back – The Tax Effect

The ATO has issued a fact sheet in relation to the off-market share buy-back that Telstra announced in 2014. The fact sheet provides advice for Australian resident investors who hold their shares on capital account and are subject to the CGT provisions. Participating shareholders are taken to have disposed of their shares under the Telstra Buy-Back on 6 October 2014 – CGT event A1. Learn more »

Recent Changes to Development Control Plans

What are the differences between a Development Control Plan (DCP) and a Local Environment Plan (LEP)?

A DCP provides detailed planning and design guidelines to uphold the planning controls in the LEP. Learn more »

Statutory Warranties also apply to work carried out by Subcontractors

The recent amendments to the Home Building Act have now explicitly indicates that sub-contractors works are subject to the statutory warranties. The Act states that the subcontractor is subject to the following: Learn more »

Draft legislation on work-related car expense deductions

The Treasurer announced in the 2015/16 Budget that the methods used for calculating work-related car expense deductions under Div.28 of the ITAA 1997 would be simplified and modernised. An exposure draft of the amendments has been released for public consultation. Learn more »

The Benefits of a Testamentary Discretionary Trust

In order to determine the benefits of a testamentary discretionary trust it is necessary to understand what it actually is.

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How to Legally Reduce your CGT Liability on the Sale of your Investment Property

All assets you’ve acquired since tax on capital gains started (on 20 September 1985) are subject to CGT unless specifically excluded. When you sell or otherwise dispose of an asset it’s called a CGT event. This is the point at which you make a capital gain or capital loss.

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Benefits of Exchange-Traded Funds (ETF) in a Self Managed Superannuation Fund (SMSF)

The unique benefits of Exchange Traded Funds (ETF) appeal to investors and SMSF members.

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ATO Enforcement and Recovery

Recently, the Australian Tax Commissioner, Mr. Chris Jordon emphasised the importance of paying tax and superannuation to enable the Australian society and economy to continue to thrive. He also promoted the voluntary support of individuals and corporate entities to meet their taxation obligations. Learn more »

What you need to know about Strata Insurance

What is strata insurance?

Residential strata insurance is a type of general insurance which covers common property under the management of a strata title or body corporate entity. Owners of strata titles usually share the cost of the strata insurance premium as part of their strata fees and liabilities. Having strata insurance is mandatory and must also provide public liability covering people that may be injured on common property. Learn more »

Asset Protection issues with Shareholders

The directors of a company should be aware that in certain circumstances they may be held liable for the liabilities of the company. This includes the situation where the company is acting as trustee of a trust. This is particularly relevant for directors with significant personal assets. Learn more »