Foreign Resident CGT Regime

The government had announced that Australia’s foreign resident CGT regime would be extended to deny foreign and temporary tax residents access to the CGT main residence exemption in May 2017. Following consultation, the government had also amended the change to the main residence exemption to ensure that only Australian residents for tax purposes could access […]

Explanatory Memorandum – November 2019

Getting the benefit of your business tax losses Made a tax loss? If you’re a sole trader or individual partner, you may be able to apply the loss against other income like salary or investment income, or carry the loss forward to a future year. When you’re starting a new business venture, it may take […]

Client Alert – November 2019

Getting the benefit of your business tax losses When you’re starting a new business venture, it may take some time before the business becomes profitable. And there may be other situations where an established business operates at a loss in a particular year. So, what does this mean tax-wise? When your deductions in an income […]

SG amnesty resurfaces in Parliament

The proposed SG amnesty is now back on the table after more than a year of uncertainty around the proposed policy. On Wednesday, the government introduced Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 into Parliament, picking off from the previously lapsed bill that had sought to introduce the SG amnesty. The SG amnesty provides for a […]

Non-compliant payments to workers: is your tax deduction at risk?

Recent changes to tax law give employers greater reason than ever to be extremely careful in complying with their tax withholding obligations. The changes were made by the Treasury Laws Amendment (Black Economy Taskforce Measures No. 2) Bill 2018 – and, as the name suggests, the new rules are primarily designed to target businesses operating off-grid in the […]