BUSINESS STRUCTURES There are numerous different business structures available for business, each with their own pro’s and con’s and suitability depending upon the type of business. There is rarely ever one perfect option th [...]
Simple Estate Planning
A simple estate plan can consist of a Will, Enduring Power of Attorney and / or an Enduring Power of Guardianship and even an Advanced Health Directive. A Will, generally speaking, takes 2 forms, a simple Will or a Testamentary Tr [...]
ATO Disputes and Audits: Compliance Preparation and Prevention
ATO TAX DISPUTES: Tax Audits and Evasion / Avoidance in business: Prevention and Preparation for ATO Compliance As presented by Nathan Thomson at the recent Legalwise Tax Essentials conference 13 June 2017 and published [...]
What is a Testamentary Trust?
TESTAMENTARY TRUSTS EXPLAINED General Overview A testamentary trust is simply a trust that is created by an individual’s will which does not come into effect until the taxpayer dies. A testamentary trust is like any other [...]
Want to defer capital gains tax for up to 2 years?
Deferring capital gains tax on small businesses for two years. Division 152 of the ITAA1997 allows certain small business further capital gains tax concessions, provided certain requirements are met. The requirements ar [...]