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Limited recourse borrowing arrangements

The Australian Taxation office has put Limited Recourse Borrowing Arrangements (“LBRAs”) under the microscope. The LBRAs expert report recommended the LBRAs should be scrapped, however such advice has not been implemented by the Turnbull government. The government in the form of give and take, has publicly stated LBRAs will be…
Company Director

Being a responsible company Director

As though business owners and principals don’t already have enough on their minds, the words “slowing economy” are being heard around the barbecue again — just to add to the list of excuses for not sleeping well at night. Company directors especially need to keep in mind that the Corporations…
Tax-free life policy bonuses

Tax-free life policy bonuses

When a life insurance policy has been held by the taxpayer for 10 years or longer, reversionary bonuses received on that policy are tax-free. (A reversionary bonus is the profit earned annually on traditional life contracts on top of the sum-insured.) For policies held less than 10 years, stipulated amounts…

Property transactions: Got an appropriate valuation?

Not all taxpayers may be aware of how the use of estimates can affect their annual tax bill. Estimates are most commonly used in apportioning expenses between private and business use. More important however is the use of valuations to estimate the cost of transactions that are not arm’s-length or when…

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