Issue There is a concerning trend of the ATO rejecting interest remission requests. In the past, even pre-COVID-19, you and your clients...

There are many instances where we need the ATO to be on our side, for example, requesting interest and/or penalty remission, private...

Facts Mum and Dad are married, Mum has one child from a previous relationship. They own their home as joint tenants. Mum has prepared her...

This post is no longer up to date. Please refer to Tax Tip #43 for more information. Alert From 30 June 2023, Queensland land holders...

Mum and Dad own a property where they live. The property was transferred to their daughter in error, as part of a separate transaction.

Facts Your client operates a business in a discretionary Trust T. Trust T has made a family trust election (FTE). The eventual end to...

Facts Individual A is a senior mechanical engineer in a global mining company. She sought approval from her employer to apply for the...

Facts Company A operates a medical centre. Doctor B carries on her business from the medical centre under a written service agreement...

Facts Mum has passed away leaving: 1. Dad with the main residence; 2. Daughter with the pre-CGT investment property; and 3. Son with a...

Facts Dad owns 100% of the family home. Dad is an at-risk person, for example, he is a director of a trading company. Dad wishes to...

In Tax Tip #7 we discussed sub-trust arrangements to extend the ‘life’ of a UPE, in respect of Division 7A, from 7 to 14 or 17 years. ...

Facts Mum and Dad built a new home, in which they lived in, for four (4) years. They decide to sell. Mum and Dad are not property...

Facts A company is 100% owned by an individual. There are 100 issued ordinary shares at $1 each. The current share value is $250,000. The...

Facts A company sold a pre-CGT asset for $100,000. The shareholder wishes to access the sale proceeds from the sale of that pre-CGT...

Facts Your client owns a house where they live and a holiday house. They propose to sell the holiday house. Question Can your client...

Facts A shareholder wishes to exit a company. It is proposed that the company buys back those shares for $100,000 so that the other...

Facts Scenario 1: your client has lived in the home (main residence) and decides to move out and rent the property. Scenario 2: your...

Facts Accountant A operates an accounting practice through Trust T. Trust T makes trust distributions to Accountant A’s spouse and...

Facts Mum & Dad wish to purchase an existing vacant property, subdivide into 2 x lots, build 2 x houses and sell both. Mum & Dad have an...

Facts Company C is a trading company. Over several successful years it has accumulated retained profits that it re-invested into the...