There is a proposed legislation before the NSW parliament seeking to amend legislation relating to stamp duties and land tax. How does this impact Discretionary Trusts? Under the relevant Acts, a foreign trustee will be liable to pay surcharge transfer duty and surcharge land tax (2%) on the acquisition of and holding an interest in residential […]
The Australian Financial Review Top 100 Accounting Firms in Australia for 2019 has been released and Rede Accountants are very proud to announce that we have been named on the Australian Financial Review Top 100 Accounting Firms for the second year running! To say we are proud to be included on the Australian Financial Review […]
This article originally appeared on the Australian Consumer Law website. The Australian Consumer Law (ACL) has been amended to provide protections for gift card consumers across Australia. These national changes apply to gift cards supplied to consumers on or after 1 November 2019. Cards and vouchers sold before 1 November 2019 continue to have the […]
This article originally appeared on the ATO website on 19 August 2020. If you run your home-based business as a company or trust, your business should have a genuine, market-rate rental contract (or similar agreement) with the owner of the property. The agreement will determine which expenses the business pays for and can claim as […]
This article originally appeared on the Australian Taxation Office website on the 13th of August 2019. The Federal Court handed down two decisions relating to personal services income (PSI) rules yesterday. Income is classified as PSI when more than 50% of the income received under a contract is for a taxpayer’s labour, skills or expertise. The […]
“Temporary” Apartment Qualifies as Permanent Place of Abode This article originally appeared on Accountants Daily on the 16th of September. The High Court has refused the Commissioner of Taxation’s application for special leave to appeal against the decision of the Full Federal Court’s decision in Harding v Commissioner of Taxation. Big four firm PwC, who acted […]
Government Floats Changes to Downsizer Contributions Sarah Kendell This post originally appeared on accountsdaily and has been republished with their permission. The government has floated a number of imminent changes to eligibility for downsizer contribution rules, including clarifying who can contribute the proceeds of pre-CGT properties and how contributions from jointly owned properties are […]
Guidelines on Director GST Liability Expansion Released Jotham Lian This post originally appeared on accountsdaily and has been republished with their permission. The ATO will only make estimates of outstanding GST, WET and LCT liabilities where taxpayers are suspected of phoenix behaviour or dissipating assets, according to new draft guidelines. The Tax Office has released […]
Having a break-in or theft at your home is traumatic enough without the added stress of your home and contents insurance provider rejecting your claim. Consumers are risking voiding their home and content insurance by making some common mistakes. A recent survey of 3300 Australians found that more than 20% of Australians chose to hide […]
Super Guarantee Opt-Out Coming for Certain Individuals Like the SMSF penalties here, this event also passed through both houses of parliament and awaits royal assent. Certain high income earning individuals will be eligible to get an employer to not make super guarantee payments on their behalf in the future. The intention of the new law […]
COL WILSON B.COM, FCPA, REG'D TAX AGENT
KEN LUDEKE FCPA, FCA, REG'D TAX AGENTCertified Practising Accountants
Suite 1004, Level 10 "The Rocket" 203 Robina Town Centre Drive Robina QLD 4226
Tel: 1300 399 599
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