by Quinns_News | May 6, 2015 | Accounting News
The recent Federal Court case demonstrated that transferring a Capital Gains Tax (CGT) asset to a trust may trigger a CGT event and, consequently, gives rise to CGT liabilities. In this case the taxpayer transferred land to a joint venture trust for the purpose of...
by Quinns_News | May 6, 2015 | Consumer News
Partners should think very carefully before guaranteeing a loan. If you guarantee your partner’s loan this will mean that you are responsible for the repayments of the debt if he or she defaults. If the borrower fails to repay the loan then you as guarantor may end up...
by Quinns_News | Apr 29, 2015 | Legal News
In March 2014, there was a major amendment and update to the Privacy Act 1988 (Cth). The original legislation was enacted in 1988 with the aim of protecting personal information. However, the original Act never foresaw the internet era in which individuals are sharing...
by Quinns_News | Apr 29, 2015 | Consumer News
By way of background in 2007 the Australian Government allowed superannuation funds to borrow under strict conditions. As a result of this legislation, executives, professionals and family owned businesses have chosen to purchase direct property as their investment of...
by Quinns_News | Apr 22, 2015 | Tax Advice and Updates
The CGT Small business concessions may reduce or eliminate a taxable capital gain a taxpayer makes when a CGT event happens in relation to a CGT asset. Discretionary Trust Key Points In order to access any of the small business concessions (SBCs), a taxpayer must...
