Blogs & Resources
5 January 2016
Can a Self Managed Superannuation Fund (SMSF) invest in shares in a private company?
Yes. Provided that the Self Managed Superannuation Fund (SMSF) considers the following:
- The SMSF investment strategy allows it.
- …
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28 December 2015
Have a better understanding of your business performance and financial position.
I once read that the 2 major complaints that clients have with their accountants are:
1. Lack of convenient car parking.
2. All my accountant does is my f…
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12 December 2015
Are gifts to clients / customers tax deductible?
Generally speaking yes. If the gift is designed to:
1. Promote and / or advertise your business;
2. Generate goodwill …
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12 December 2015
Can I claim my Christmas party as a tax deduction and what are the fringe benefit tax implications?
Generally speaking, if a party / function is held off the employer's premises and the cost per head is less than $300 the cost will be exempt from Fringe Be…
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11 December 2015
The importance of cashing out death benefits from Self Managed Superannuation Funds (SMSF).
The Australian Taxation Office (ATO) Interpretative Decision (ID) 2015 / 23 states that member’s benefits in a regulated superannuation fund must be &lsqu…
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2 December 2015
December 2015 - Taxation Update
Please subscribe to our newsletter for our latest taxation update, where the following topics are discussed:
1. Reminder of small business tax cuts
…
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29 November 2015
What are the tax rates for the various business and investment structures?
Individual Tax Rates
Taxable income &nbs…
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26 November 2015
What are the taxation benefits of a Testamentary Trust?
Testamentary Trusts are able to utilise the Special ‘Minor’ rules and as a result achieve great tax savings.
Typically a minor (child) that is so…
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20 November 2015
What is a Testamentary Trust?
This is a Trust that comes into existence from someone having its terms stated in their will.
When someone states in their will that their assets will be hel…
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16 November 2015
Can my Family Trust distribute money to my Self Managed Superannuation Fund (SMSF)?
Yes it is possible to this. However, it is considered to be non arms length income in the hands of the SMSF and therefore taxed at top marginal rates.
…
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8 November 2015
More Audit Activity from the Australian Taxation Office (ATO)
http://www.theage.com.au/business/the-economy/tax-man-to-hit-smes-and-individuals-with-random-audits-20151104-gkqjb0.html
It maybe worthwhile considering aud…
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5 November 2015
What is the ‘two year rule’ in terms of deceased estates?
The beneficiary of a deceased estate has up to two years to dispose of the dwelling of the deceased before they will incur tax.
The time period …
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30 October 2015
November 2015 - Taxation Update
Please subscribe to our newsletter for our latest taxation update, where the following topics are discussed:
1. Immediate deductibility of capital star…
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28 October 2015
Accounting and Tax Essentials for property investors
Whether you own the rental property in your: own name and Self Managed Superannuation Fund (SMSF), company; trust etc., it is important to be aware of the allow…
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26 October 2015
When is a Dwelling (residence) that has been inherited from a deceased estate eligible for a full Capital Gain CGT exemption (Part 2)?
Further to 21/10/15…
http://www.mcnamaraandcompany.com.au/blog/when-is-a-dwelling-residence-that-has-been-inherited-from-a-deceased-estate-eligible-fo…
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