Blogs & Resources
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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24 October 2015
How effective is your structure for tax purposes?
The following is real life example of a client of ours:
Purchased an investment property in 1992 for $180,000
Sold the same investment property in 2007 fo…
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21 October 2015
When is a Dwelling (residence) that has been inherited from a deceased estate eligible for a full Capital Gain (CGT) exemption.
Section 118 – 195 of Income Tax Assessment Act 1997 states that a beneficiary may claim a full main residence exemption (CGT Free) of the deceased dwellin…
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17 October 2015
Factors to consider when applying the Capital Gains Tax (CGT) main residence exemption after death?
Under certain circumstances a full or partial CGT exemption may be available to a beneficiary that disposes a main residence. Things that need to be consi…
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13 October 2015
What are the steps in administering someone’s deceased estate?
After attending to the burial arrangements, the steps involved typically involve:
1. Contact the relevant people and organisation…
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1 October 2015
October 2015 - Taxation Update
Please subscribe to our newsletter for our latest taxation update, where the following topics are discussed:
1. GST on all (taxable) online transaction…
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26 September 2015
What happens if my Transition to Retirement Income Stream (TRIS) payments exceed the maximum annual payment limit for my Self Managed Superannuation Fund (SMSF)?
A TRIS http://www.mcnamaraandcompany.com.au/blog/what-is-a-transition-to-retirement-income-stream-tris
A Transition-to-retirement income stream (TRIS) can be…
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