By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) On occasions, it is desirable to restructure the assets of a trust. The motivations for a restructure can include: succession planning, separating control of certain assets to different persons, separating
ATO attack on Stapled Structures: Does it affect Private Business
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) The ATO has had on its radar what it describes as stapled structures. It has identified a number of concerns that it has with stapled structures. Then in the May
Effect of Trust Vesting Date: ATO confirms our long-held view!
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Most trusts, and all private discretionary trusts, have what is known as a vesting date which is described differently in different trust deeds e.g. Vesting Date, Perpetuity Date, Termination Date,
CGT Amendments – A Missed Opportunity
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Published in Australian Tax Week Issue 25 (22 June 2018) Amendments to the small business CGT concessions (SBCC) were introduced to Parliament in the Treasury Laws Amendment (Tax Integrity and
CGT Amendments Introduce Unnecessary Complication for Small Business
By Domenic Festa (Accredited Tax Specialist and Chartered Tax Adviser) Published in Australian Tax Week Issue 3 (8 June 2018) and The Tax Institute Volume 53(1) Amendments to the small business CGT concessions (SBCC) were introduced to Parliament in the
The Case of Aussiegolfa: SMSF’s Beware!!
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