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Answer: This is a commonly used term to indicate funds withdrawn from a business by its proprietors.…
Proprietor’s funds. Question: Can you direct me to where I might find more information on the definition of “drawings”? Answer: This is a commonly used term to indicate funds withdrawn from a business by its proprietors.…
Super funds – CFDs. Question: Can a super fund invest in CFDs? If so, what is the value of the threshold? Answer: Contracts for Difference. or CFDs are a sophisticated and fairly high risk product available to investors and traders.…
Private equity investors will miss out in the Government’s newly announced Investment Manager Regime designed to attract substantial funds from offshore for management within Australia.…
In March 2010 the Government released a proposal called SuperStream to introduce an industry wide electronic data and payment transfer system for superannuation funds but excluded self-managed super funds from the scheme.…
The agreement provides: + Existing undisclosed bank account funds will be taxed in Switzerland with a withholding tax between 19 and 34 percent (depending on how long the funds have been hidden and the rate of capital gain); + The final withholding tax on future…
Employers, companies, trusts and super funds to give bank account details to ATO. FBT returns and tax returns for companies, trusts, super funds, body corporates will need to disclose the tax paying entity’s bank account details from July 2014.…
Many countries who relied on secrecy to attract investments and trade are now shedding their reputation as tax havens and providing details to other jurisdictions.…
Deductibility of interest depends on the use to which the borrowed funds are put. Always reduce your home loan before reducing any business borrowings. You can use the equity in your home as collateral to borrow money for business purposes.…
More red tape for self-managed super funds. The Government plans to increase regulation of self-managed super funds detailed in its Stronger Super announcement in September.…