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What is my superannuation taxed at?
This article summarises the Australian Privacy Principles (APPs) and the importance of having a data destruction policy (DDP) in place. It outlines the steps to take when destroying or deidentifying personal and sensitive information, and the consequences of not doing so.
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Division 293 tax – explained
Learn about the Division 293 Tax, a 15% additional tax on pre-tax super contributions over $25,000 for individuals earning over $250,000. Understand the criteria, how it is applied and related tax articles.
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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).
Tax law
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