Monthly Archives: March 2014

UPEs and Division 7A…

Another discussion paper on how to solve the problem of UPEs and Division 7A has been released… And it is very very interesting. This discussion paper is by the Board of Taxation. And they suggest that a UPE to a … Continue reading

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Increased tax rate starts now

Remember that from 1 July 2014 the Medicare Levy goes to 2% (from 1.5%) so the marginal tax rates all go up. And remember we are doing this to afford the NDIS… Raising $3.3 billion a year to “afford” a … Continue reading

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Why worry about what is important when you can focus on the irrelevant?

Late last year the government indicated it was not going to continue with more than 60 “announced but unenacted” tax and super measures. But it is hard to keep people (and especially tax lobbyists) happy. Even while they applauded this … Continue reading

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Luxury Cars and Hire Purchases

We now have a final ruling that is exactly like the draft – LCTD 2014/1 – so have a read about the draft

Posted in GST, Rulings | Leave a comment

Tax avoidance history…

In 1660 there was a tax on fireplaces in England. So everyone covered up their fireplaces and the tax was repealed in 1689. In 1696 there was a tax on the number of window a house had in England. So … Continue reading

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Clearing the Tax and Super Decks

Apart from the changes in the Mining Tax and Carbon Tax repeal bills (small business instant asset write off, carry back losses…), and the promise to remove the means testing of the private health insurance offset, the government only has … Continue reading

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Employee Benefit Trusts And “Deep Throat”

Many years ago I received a call from a very junior ABC journalist (her career has very much blossomed since the and she is now a household name). We met in a meeting room where I worked an she provided … Continue reading

Posted in FBT, Income Tax, Part IVA, Planning Idea, Planning Stuff | Leave a comment