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,
Partnership of Discretionary Trusts – pros and cons
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
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,