By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Published in Australian Tax Week Issue 15 (20 April 2018) A often asked question by the trustees of self-managed superannuation funds is whether they can make investments involving associated or
Company Rollover – A Last Resort Option?
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) In the evolution of a business, there may come a time when it is necessary to restructure into a company. Often, non-tax factors will trigger this: government regulations, a need
Is a Company the Best Structure in the Current Tax Environment?
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
Superannuation Reform 2016 – Planning Pointers
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Effective Date: 30/07/2017 The superannuation reforms announced in the 2016 Federal Budget have largely been implemented. Many of the changes simply adopt the government announcement. However, there are some changes
Superannuation Reform 2016 – A Roadmap to guide you through the maze
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