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We can help you take on an overseas employment position by offering planning guidance to optimise your tax residency circumstances so you do not pay unnecessary double taxation.…
Case study: Tax residency and main residence exemption. Bert Lancaster is an enterprising young mining engineer who has just been offered a new job in New Zealand. He recently bought his first home in Brisbane in January.…
Appeal lost: Foreign companies were tax residents of Australia. The Full Bench of the Federal Court declined an appeal by multiple foreign companies against an assessment based on them being Australian tax residents.…
Can you claim the main residence exemption after you move overseas? The answer depends on timing, tax residency, and a few rules that catch people out. Let’s say you have lived in your home in Brisbane for years.…
Save Tax - personal use assets. These are assets (other than collectables) kept primarily for your personal use and enjoyment. If acquired for $10,000 (excluding GST) or less, any capital gain is exempt.…
Save Tax - wash sales. If you have listed company shares showing a book loss you can generate a capital loss by selling those shares. Take care if you intend re-purchasing. You need a good commercial reason for this to avoid application of Part IV A.…
Save tax - pre-payments. For individuals and small businesses, prepayments can be claimed in full provided the period covered by the prepayment does not exceed 12 months and concludes before the end of the financial year.…
Tax Insight. Tax Accounting. Tax Returns. Activity Statements. Superannuation Tax & Regulation. Tax Planning. Business Structuring. Trust Structuring. Company Structuring. Tax Audit. Tax Dispute. International Tax. Profit Plans. Revenue Growth Plans.…
The Tax Office has announced that it will commence issuing letters warning tax payers they will receive a default assessment for tax where they have not lodged their tax return by the due date.…
Save Tax: relocation costs. Expenses paid by an employer to meet or reimburse relocation costs of an employee who is required to relocate for work purposes, are exempt from FBT.…