The government’s acceptance of a new bright line test should put to rest much confusion over individual tax residency rules that have not kept pace with Australians who lead global lives. The Federal Government’s 2021‑22 Budget announcement that it intends to implement a revised set of individual tax residency rules as recommended by the Board […]
For many small business owners, the major source of retirement funding is the sale of their business or assets owned by the business. Fortunately, there are a number of capital gains tax (CGT) concessions available to small business that reduce or even eliminate the capital gain on the disposal of certain assets. We’ve compiled five […]
Gifts provided to employees or their associates — that gold, frankincense and myrrh you picked up at the Black Friday sales — will typically constitute a property fringe benefit and therefore are subject to FBT unless the minor benefit exemption applies. Gifts, and indeed all benefits associated with a Christmas function, should be considered separately to […]
