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New Legislation Restricts Access to the Reduced Company Tax Rate

New Legislation Restricts Access to the Reduced Company Tax Rate

Legislation restricting access to the small business company tax rate reduction entered Parliament last month. The changes specifically preclude companies with passive investments such as rental property income from qualifying for the small business entity tax rate of 27.5%.

For th...

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Taxing Bitcoin

Taxing Bitcoin

Cryptocurrencies, like Bitcoin, are independent and not regulated by any central authority. Until recently, these digital currencies were not treated in the same way as cash for tax purposes in Australia. New legislation passed by Parliament last month seeks to change all of that by removi...

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How Small Subsidiaries Are Being Caught By Australia's New Multinational Tax Crackdown

How Small Subsidiaries Are Being Caught By Australia's New Multinational Tax Crackdown

Entities with a global parent or that are part of a large group of companies are being caught in the multinational tax crackdown regardless of their size in Australia. 
   
With effect from 1 July 2016, many smaller entities connected to a larger par...

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Tax incentives for investing in affordable housing

Tax incentives for investing in affordable housing

In the 2017-18 Federal Budget the Government announced a series of measures intended to improve housing affordability in Australia. To entice investors, the Government is providing an increase in the CGT discount for individuals who choose to invest in affordable housing.

...

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Safe harbour for directors of struggling companies

Safe harbour for directors of struggling companies

Australia’s insolvent trading laws impose harsh penalties on directors of companies that trade where there are reasonable grounds to suspect that the company is insolvent. Criminal and civil penalties can apply personally including penalties of up to $200,000, compensation proceed...

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Alert: What you need to tell the ATO about your SMSF

Alert: What you need to tell the ATO about your SMSF

The 1 July 2017 superannuation reforms introduced a new reporting regime for funds.

Funds now need to advise the ATO of key events within the fund that impact on retirement income streams (pensions):

  • When you start a pension
  • When you stop a pen...

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New laws hold franchisors responsible for vulnerable workers

New laws hold franchisors responsible for vulnerable workers

Franchisors and holding companies could be held responsible if their franchisees or subsidiaries don’t follow workplace laws.

The Government has stepped in to protect workers following months of controversial headlines uncovering poor record keeping, questionable workplace ...

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