Taxing Foreign Income in the Hands of an Australian Resident
Written by Emily Baulderstone: Under Australian Tax Law, income derived by an individual who is considered to be an Australian resident for tax purposes is subject to income tax whether this income was derived from an Australian or Foreign source. Determining if you are an Australian resident for tax purposes can be a difficult issue […]
Depreciation game changes for residential investment properties
Last week marked the biggest change to depreciation legislation in 15 years. As part of the government’s efforts to claw back negative gearing parliament passed the Treasury Laws Amendment (Housing Tax Integrity bill) into legislation. This legislation means that you can no longer claim income tax depreciation for plant and equipment assets in second-hand properties […]
Testamentary trusts: tightening control on the distribution of your assets
A common question that we often get asked by our clients is “How can I protect assets left to my children from in-laws if their marriage breaks down?” The best way to achieve greater control over the distribution of the assets in your will is to establish a testamentary trust. A testamentary trust is also […]
Corporate beneficiaries: the complete story
Corporate beneficiaries are a popular and effective strategy for delaying tax. However if you use a corporate beneficiary it’s important that you remember just that; it is a delaying strategy. Recently I have noticed a number of new clients telling me that their previous accountant saved them a fortune through the use of a corporate […]
How To Reduce Taxes: Are You Paying More Tax Than You Need To?
Are you paying more tax than you need to? Are you looking at how to reduce taxes including the tax paid by your business? Then read on as we have some top tips for you to consider! How to reduce taxes: Timing is everything Accelerate deductions For businesses, if your cashflow is good, make the […]
