Insights
The windfall gains tax – plunder or taxation?
The windfall gains tax (WGT) was first announced on 15 May 2021. Despite it being a major announcement, very little detail was provided on the scope and application of th...
Accountant’s road map; business exits
Family businesses often trust (and expect) their accountant to guide them through every stage of the business life cycle, including significant one-off events such as a b...
Putting non-COVID changes on the radar
Amid the focus on COVID-19 support measures, it’s easy to lose sight of the new non-COVID measures that are scheduled to commence in the months ahead. This article cons...
Commercial debt forgiveness and payout deductibility in a management buyout
How does commercial debt forgiveness and payout deductibility work in the case of a management buyout? Let’s look at a scenario.
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Working from home during a COVID-19 lockdown: Can you claim a tax deduction for rent?
The ATO has long held firm on the principle that rent payments (being a form of occupancy costs) are generally outgoings “of a private or domestic nature” and therefo...
Accountants hold the key to unlocking stimulus for small business
In a normal year, accountants would currently be in the thick of tax season, supporting their clients with their returns and business-as-usual requests. However, as we’...
Time for some tough talking
In July, my colleague Hayden Asper, wrote in this publication that when it came to collecting outstanding tax debts, while the Australian Tax Office had cut businesses so...
Pitfalls and proposed changes in the use of R&D tax incentives
Since its introduction, a number of taxpayers have fallen foul of the ATO in its administration of the research and development (R&D) tax incentive scheme under the I...
Traps with tax depreciation incentives
The myriad of tax depreciation incentives are designed to boost cash flow and encourage capital investment but they are overly complex and can leave businesses with unexp...
Lockdowns demand more from staff engagement programs
For most businesses, there has been a recognition that working during a global pandemic comes with a heightened need to manage the safety and wellbeing of staff.
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Family Law property settlements and extracting money from companies
With the increased use of private companies to hold wealth or operate businesses, parties in family law property settlements are more and more likely to find themselves i...
