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Transfer duty exemption for small business restructuring
The Queensland Commissioner of State Revenue has issued a public ruling outlining potential exemptions from transfer duty for eligible small business entities undergoing a restructuring. Get the full details of the ruling, its implications and eligibility requirements here.
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Division 7A ITTA 1936 (Cth) – compliance & consequences
This article provides an overview of Division 7 of the Income Tax Assessment Act 1936 (Cth), covering advances of moneys and loans between private companies and its shareholders/associates, exceptions to these, and requirements for a compliant Division 7A loan agreement. The implications of failing to have a compliant agreement are explained in this article.
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Value shifting in commercial transactions explained
Value shifting is an important tax consideration in Australia. This article outlines the general regime and exemptions, as well as Australian Taxation Office (ATO) resources for guidance.
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Which entities qualify for the R&D Tax Incentive?
Companies can benefit Australia through the Research and Development Tax Incentive (R&D Tax Incentive), which offers a tax offset. Eligibility depends on an entity’s status. Trusts can also access the incentive via Trust Rollover or licence agreement.
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Transfer duty implications for loans
Transfer Duty in Queensland: does it apply to loans? This article explores the Duties Act 2001 (Qld) and what constitutes a dutiable transaction and dutiable property. Find out if transfer duty applies to loans and learn more about the implications of loan agreements.
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Transfer duty and issuing units in a unit trust
Discover how Queensland transfer duty is applied to dutiable transactions and what it means for your trust. Click through to the article for a comprehensive guide to the Duties Act 2001 (Qld).
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Eligibility criteria for the Trust Restructure Rollover
Thinking of restructuring your trust for some reason? While there are certainly a number of commercial benefits in transitioning from a trust into a company, a common pitfall is failing to acknowledge potential liability for Capital Gains Tax (CGT) or address potential liability for state based transfer duty (Stamp Duty).
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Trust restructures – relief from capital gains tax
Learn how to avoid or reduce Capital gains tax (CGT) and other taxes when transitioning from a Unit Trust to a company structure. Find out what you need to know about a Trust Restructure Rollover pursuant to Division 124-N of the Income Tax Assessment Act 1997 (Cth).
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Changes to capital gains tax rollover relief rules
The Royal Assent of the Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016 provides increased flexibility for small businesses to restructure and grow. Eligibility requirements include transfers of active assets as part of a genuine restructure. Click to learn more about the requirements and considerations.
Tax law
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