By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) When considering the acquisition of an asset or the commencement of a new business, the first question that should be considered is the form of ownership. When more than
Private company UPEs
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) In recent times, the ATO has clarified/revised its views on the application of Division 7A to private company UPEs. In a continuation of that theme, on 2 July 2014
Attack on Phoenix activities affects ordinary business 11 November 2013
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The classical form of Phoenix activity involves a person, behind the shield of a limited liability company, incurring debts (such as payments due to subcontractors, PAYG deducted from employee’s wages,
Imposing penalties on SMSF
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Self-managed superannuation funds (SMSFs), like all regulated superannuation funds, are eligible for significant taxation concessions – most classes of income are taxed at 15%, discount capital gains at 10%,
Improvements to super fund property
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) When considering a suitable investment strategy (particularly for assets that are held outside of superannuation) alternatives for gearing, both in relation to the acquisition of the asset and improvements to