Tax & Structuring

The CGT small business concessions are invaluable to those who make a capital gain from a small business. They can eliminate a gain entirely; they can reduce a gain; and they can allow for the gain to be CGT-free if paid into a superannuation fund. But it is often forgotten that the gain can also [...]

Looking to boost your employees’ skills and your tax deductions at the same time? Then keep reading to see if you could be eligible for the small business skills and training boost! If you run a small or medium business and are planning on investing in, or recently invested in, training your employees, taking care [...]

For property developers - or would-be property developers – a recent decision of the Federal Court may be of interest.  In Makrylos v FCT [2023] FCA 971, land acquired by a property developer was treated as trading stock from the date of its original acquisition, and not a later date proposed by the taxpayer. This [...]

Soon-to-be-implemented changes to the Australian Consumer Law will provide additional protection to consumers and small businesses prohibiting the proposal, use, or reliance on unfair contract terms in standard form contracts. The ACCC recognises that “standard form contracts provide a cost-effective way for many businesses to contract with significant volumes of consumer or small business customers. [...]

Did you know you can reduce your income tax by making a large personal tax-deductible contribution from your take-home pay to your super? This strategy may be particularly useful if you will be earning more income this financial year or if you have sold an asset this year and made a large capital gain. What [...]

The capital gains tax (CGT) discount can reduce by 50% a capital gain that you make when you dispose of (sell) a CGT asset that you have owned for 12 months or more. However, the discount is only available to: individuals (but not foreign or temporary residents) complying superannuation funds (33% discount applies, not 50%) [...]