Blogs & Resources

31 August 2025

When not to apply the main residence exemption.

The main residence exemption is contained in Sub division 118-B of the Income Tax Assessment Act 1997.  It is designed to ensure that any profits made n th…

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28 August 2025

Importance of understanding your Affiliates for the Small Business Capital Gains Tax (CGT) Concessions.

When considering the Maximum Net Value Test, refer https://mcnamaraandco.au/blog/how-is-the-maximum-net-asset-value-test-calculated-for-the-cgt-small-busin…
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24 August 2025

How is the maximum net asset value test calculated for the CGT Small Business Concessions?

This test is outlined under Section 152-15 of the Income Tax Assessment Act 1997. If just before the CGT event the sum of the following amount does not exc…

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14 August 2025

How is the $2 million aggregated turnover test calculated for the CGT Small Business Concessions?

Section 152-10 (1AA) of the Income Tax Assessment Act 1997 states – you will be a Small Business Entity if your turnover is less than $2,000,000.  &n…

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30 July 2025

Basic conditions for a business to access the Small Business CGT Concessions and reduce their liability

A taxpayer must satisfy either one of the CGT Small Business Entity (‘SBE’) tests:less than $2 million aggregated turnover;or the maximum net asset …
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24 July 2025

How to reduce your tax bill to NIL when selling your business.

The Small Business 15-Year CGT Exemption is the most generous of Australia’s four small business capital gains tax concessions. If you qualify, you can di…

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30 June 2025

Happy New Year - 2026 New Year’s Resolutions. Goal Setting.

Happy New Year  - What are you goals fro 2026?Most businesses would like to improve and therefore set goals in the following areas:Revenue GrowthProfit Imp…
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19 June 2025

Tax Planning – Review your Fixed Asset Register; Stock Ledger; Debtors Ledger

These three asset categories all can affect your profit and loss and therefore your taxable income. You should review your Fixed Asset Register to see if t…
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7 June 2025

Taxation Planning - Deferring capital gains events.

Warning - What can tax planning do to the value of your business - https://mcnamaraandco.au/blog/tax-planning-v-value-planningManaging the timing of a capi…
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25 May 2025

Taxation Planning – Diverting Income

Taxation Planning – Diverting income.                      Warning - What can tax planning do …
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21 May 2025

Taxation Planning – 6 ways of increasing your business deductions.

Warning - What can tax planning do to the value of your business - https://mcnamaraandco.au/blog/tax-planning-v-value-planningIncreasing your business dedu…
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15 May 2025

Taxation Planning – 8 ways to reduce your assessable income.

Warning - What can tax planning do to the value of your business - https://mcnamaraandco.au/blog/tax-planning-v-value-planningReducing / deferring your ass…
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7 May 2025

Taxation Newsletter - May 2025

Please contact our office for a copy of our May 2025 Newsletter, where the following is discussed:•    How to manage business day-to-day transact…
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30 April 2025

Tax Planning Time.

Generally speaking tax planning is when a tax payer (whether it is an individual; trust; company; partnership or superannuation fund) organises its / their affa…

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9 March 2025

Important Tax Update – Bendel’s case - Commissioner of Taxation v Bendel [2025] FCAFC 15 (19 February 2025).

The above case may lead the way for taxpayer to be able to use corporate beneficiaries with more flexibility.   Basically, distributions from a discre…
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20 February 2025

Important tax update: Government / ATO to deny interest deductions

On 13 December 2023, the federal government announced it will amend the tax law to deny deductions for Australian Taxation Office (ATO) interest charges. &…
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