The use of the small business restructure rollover may have impacts such as resetting the clock in respect of the 15-year exemption, or making the active asset test much harder to pass. In this article we highlight some issues to watch out for.
Webb Martin Consulting is excited to announce that Neil Jones will be joining us as a consultant. Neil brings with him a wealth of experience with over 40 years in the tax industry. Having Neil on board provides us with added depth and experience to draw from when advising clients.
The Victorian government announced a new program, granting eligible applicants $2,000 to cover the cost of seeking legal or financial advice.
The Government recently announced a proposal that may provide FBT exemptions for electric vehicles. Read our latest article to learn more.
Read our article to learn the facts and impact of the Commissioner of Taxation v Sharpcan [2019] HCA 36 case.
As the 2022 financial year comes to a close, practitioners will be working closely with their clients to ensure they meet their income tax obligations. This article seeks to highlight some of the recent tax developments for consideration as practitioners finalise and implement their clients’ year end plans as well as some of the key changes that apply from 1 July 2022.
The end of the financial year (30 June) usually prompts a review of bad and doubtful debts. So, it is worth revisiting the GST rules that apply to bad debts.
With 30 June approaching, one of the annual year end processes required of a trustee is to ascertain the proportion of the income of the trust estate that is to be appointed to certain beneficiaries. Often a desired tax outcome is one of the factors considered in making this decision.
The recent release of a trio of tax guidance documents by the ATO addressing section 100A, has caused quite the stir amongst advisors and their clients. Of key concern is the apparent retrospectivity in which the Commissioner’s views expressed in these documents could be applied.
The recent release of a trio of tax guidance documents by the ATO addressing section 100A has been described as being the most significant development for trust taxation in almost 40 years. In this article we focus on a key shortcoming of the anti-avoidance provision.
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