By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The 2016 Federal Budget proposed the most significant reform to superannuation since 2007. Much of the legislation for the implementation of that reform has been implemented with the passing of
Small Business Restructure Rollover – Opportunities with Some Limitations
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The Tax Laws Amendment (Small Business Restructure Roll-over) Act 2016 implements the Small Business Restructure Rollover announced in the 2015-16 Budget. It is operative for restructures that occur on or
Foreign Resident Withholding Tax – Practical Effects
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The general thrust of this new CGT withholding regime is to require a purchaser to withhold 12.5% of the purchase price on acquisitions from foreign vendors of real property (real
2016 BUDGET POINTERS
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The passing of each federal budget will always be of interest to those of us that practice in the tax structuring sphere. We will be keenly conscious of changes that
Structures for Property Development
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The choice of structure adopted for a property development project often has a key bearing on the tax implications and commercial viability of that particular property development project. In this
The Value of Legal Expertise in Tax Disputes
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Key Points Court appeals will often cost in excess of $200,000, which most clients will not want to pursue and will wish to avoid (a cost benefit analysis will not
Small Business Restructure Rollover – Opportunities and Drawbacks
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) On 5 November 2015, Treasury released an exposure draft of a proposed Small Business Restructure Rollover. The concept behind the rollover will be welcomed, as announced in the 2015-16 Budget,
Protection of Superannuation
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Bankruptcy law excludes some assets from being available to meet liabilities owing to creditors: for example, certain kinds of household property, a motor vehicle worth less than $7,500, and an
Employee Share Scheme changes for Start-Ups: an opportunity for SMEs?
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Effective Date: 30 April 2015 A growing business will often identify one or more key employees that are considered instrumental in driving the business. These key employees will be a
I’m an employee – why do I need asset protection?
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) A common misnomer is that an employee cannot be liable for work performed on behalf of their employer. It is certainly true that an employer does not have any claim