The small business capital gains tax concessions are extremely valuable. For small business owners who need to dispose of assets that have risen in value during the time they have owned them, accessing these concessions can mean greatly reducing any consequent tax liability, even to zero.
The Government has recently put into law a number of significant superannuation changes it originally announced in the last Federal Budget. As most of these changes will apply from the 1st of July, 2017, it makes a lot of sense to review these changes to see how these may impact upon you.
The concept of a “sharing economy” has been around for long enough now to have had a very real impact on how we transact with each other.
A recent case before the Administrative Appeals Tribunal (AAT) brought into focus a growing phenomenon that you should keep in mind for work-related or business expense deduction claims, especially where the acquisition of claimable assets is made in a certain way.
Given the state of the property market in Australia these days, a not-uncommon situation can arise where a residential property owner seeks to demolish and subdivide the block containing the family home and build residential units.
The Budget announcements contain a suite of tax and superannuation measures aimed at increasing housing stock and improving housing affordability.