Many Australians would love to retire early but the reality is that their concerns about their financial position restricts them from realising this goal.
Recently the Australian Taxation Office (ATO) has increased its focus on businesses that are operating under a trust structure and as part of their business are undertaking property development activities. In some instances these business have been claiming a 50 % Capital Gains Tax (CGT) discount when the properties are sold.
In order to understand the tax obligations associated with your investments in Australia, the first step is to determine your residency status. It is important to remember that the standards used to determine your tax residency are different from those used by the Department of Immigration and Border Protection. For example, you may still be… Read more »
The unreasonable director related transactions provisions under the Corporations Act 2001 enables a liquidator to attack unreasonable transactions entered into by a company where there has been a payment, disposition, transfer or right granted to: A director of the company or their close associate; or A third party on behalf of, or for the benefit… Read more »
The Australian Tax Office (ATO) has announced that they will be obtaining the online selling database of eBay customers who sold goods or services in excess of $10,000 between 1 July 2014 to 30 June 2015. It is estimated that 15,000 to 25,000 individuals may be identified by this data matching initiative.
Why is employee training so important? Employers have a legal obligation to ensure that the health and safety of their employees or anyone else entering your workplace is protected. For example, an employer of a building company would be required to ensure that all its workers and sub-contractors were given appropriate training, supervision and instructions… Read more »
A section 73 proposal is a formal proposal presented to a creditor under section 73 of the Bankruptcy Act 1966. This mechanism provides bankrupt individuals with an opportunity to end their bankruptcy early. If the section 73 proposal is accepted by the creditor, the bankruptcy is annulled and it is as if it never happened.
Commentators have suggested that Companies with boards that not only have an understanding but also embrace technology in their corporate governance roles will have a great advantage over those that do not. However, Australian boardrooms and executives have been considered significantly less technologically savvy then their overseas counterparts.
The Government recently announced the following proposed changes to those made in the recent Federal Budget.
The Harman Principle is a rule expressed as an implied undertaking to the Court not to use documents or information that is obtained under a court order for any purpose other than that for which it was given. The rule continues to apply until such documents or information becomes evidence in the proceedings in an… Read more »