by Quinns_News | Nov 14, 2018 | Blog
A common trend throughout the workforce is the ‘permanent casual’: a casual employee who works the same roster with little to no change for an extended period of time – usually over 12 months. Although ‘permanent casual’ is not an employment type officially...
by Quinns_News | Nov 7, 2018 | Blog
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...
by Quinns_News | Nov 7, 2018 | Blog
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...
by Quinns_News | Oct 31, 2018 | Blog
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...
by Quinns_News | Oct 31, 2018 | Blog
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...
by Quinns_News | Oct 31, 2018 | Blog
The High Court has in FCT v Thomas & Ors unanimously upheld the Commissioner’s appeal against a Full Federal Court decision, effectively confirming trustees are unable to ‘split’ franking credits from the associated dividend income. Facts Based on powers within...
by Quinns_News | Oct 24, 2018 | Blog
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...
by Quinns_News | Oct 24, 2018 | Blog
The Administrative Appeals Tribunal (‘AAT’) has in Mitchell v FCT held that a taxpayer was not eligible to deduct meal expenses in excess of his overtime meal allowance. Facts The taxpayer was an employee site surveyor who was employed under an enterprise bargaining...
by Quinns_News | Oct 17, 2018 | Blog
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...
by Quinns_News | Oct 17, 2018 | Blog
A will should be a true reflection of a person’s final wishes in relation to how their estate is distributed. Naturally, our wishes in relation to this are likely to change as our lives and circumstances change. Births, deaths, the purchasing of property, the...
