Fringe Benefits Tax and exempt vehicles
One of the most common fringe benefits provided to employees is the use of a vehicle such as a utility or a van.
Tips and traps of property development
Property remains a target for consideration with the ATO, and there is increasing engagement of people from all walks of life in “property plays” that often involve some level of improvement, if not complete development. With the real estate markets in Sydney and Melbourne experiencing sustained growth in residential property values, almost every owner has […]
Changes to Victoria’s off-the-plan stamp duty concession from 1 July
The Victorian Government has announced significant changes to the off-the-plan (OTP) stamp duty concession. These changes will increase the stamp duty cost to property investors and some home buyers. What is the existing OTP concession? The existing OTP concession applies to all properties that are purchased off-the-plan, including residential and commercial properties. The concession reduces […]
Are you ready for the new common reporting standard (CRS)?
The new CRS regime is likely to apply to Australian managed investment schemes and investment entities of family offices from 1 July 2017. Understanding your obligations now is therefore critical. Overview From 1 July 2017, Australian Financial Institutions will need to start applying the Common Reporting Standard (“CRS”) in Australia. The CRS is very similar […]
When is expenditure on a website tax deductible?
With more and more businesses having websites, the taxation treatment of the costs associated with building and maintaining those websites is an important topic.
Airbnb: Still plenty of questions
Whether speaking to clients or simply to people at a barbecue, I still find myself regularly asked the question, “is Airbnb a problem for me or my tax?” I usually respond with, “no, not really as long as you know what you’re doing … are you doing it? Does it work for you?” This counter-question […]