Blogs & Resources
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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22 September 2015
What expenses can I claim if I use a home office / work from home?
Working from home may allow you to deductions for part of your home expenses / payments.
The deductions available will depend on whether the home can be rega…
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19 September 2015
Can I roll / move an asset from one SMSF to another SMSF of which I am a sole member of both without causing a Capital Gains event.
Many people believe that as the ‘beneficial ownership’ has not changed, i.e., the member is still the owner, that there is not CGT event. …
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12 September 2015
Chartered Accountant wants to become a Lion Tamer - John Cleese and Michael Palin
Chartered Accountant wants to become a Lion Tamer - John Cleese and Michael Palin.
For the stereotypes of a Chartered Accounta…
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6 September 2015
What clients are looking to achieve in their business?
What clients are looking to achieve in their business?
1. I often ask clients this question and the majority of them will answer:
•…
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30 August 2015
What are some the key areas of consideration required when selling a business?
Selling a business can prove to be one of the most stressful and complicated time in a persons life.
It is therefore important that you have some time …
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