By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) When starting a business or contemplating a significant investment, the first consideration is which entity should be used for the ownership of that business/investment. Traditionally, a common structure for private
Is My Company Constitution Tax Effective?
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Many will think of the Constitution of their company as a predominantly commercial document setting out the powers and procedures for the making of decisions by directors and shareholders, and
Main Residences in Estate Planning – Caution Required
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The use of testamentary trusts in estate planning (particularly for clients with a reasonable level of income producing investments) is relatively standard practice. It is not uncommon in preparing the
Is the ATO Changing its Approach on LRBA’s?
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Effective Date: 6 September 2017 The rules for LRBA’s and superannuation funds do not prohibit the loan being made by related parties. A question that some ask is whether the
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,
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