Monthly Archives: November 2015

Newish Tax Concession For Farmers

The Government has released draft legislation that makes certain tax concessions available to farmers even better than they currently are. In the draft legislation, the Government proposes to make the following changes to the Farm Managed Deposit scheme (and a … Continue reading

Posted in Income Tax, Legislation, Planning Idea, Planning Stuff | 1 Comment

How do I fix up a large UPE

I know they are not as common since December 2009, but now that we are generally paying interest on new UPEs to corporate beneficiaries (as required under┬áTR 2010/3) these UPEs can be a real pain. Especially if the trust that … Continue reading

Posted in Income Tax, Rulings | Leave a comment

Common property in blocks of units

So who owns the common property in a block of units, the strata trust or the owners. Legally it depends on the state legislation. However, in Taxation Ruling TR 2015/3 the Commissioner simplifies this 40. Each strata title legislation is … Continue reading

Posted in Income Tax, Rulings | 1 Comment

Please Fairfax, think…

Once again Fairfax journalists are showing how little they know about tax. Recently, the master of the tax mistake, Michael West, wrote about some recent tax amendments that have been blocked in the Parliament… The second is an amendment to … Continue reading

Posted in Tax Policy | Leave a comment

Tax Depreciation Myths

There is a field of study that shows that you cannot teach an adult anything that is contrary to their current opinion without first challenging or┬ádisproving their current opinion. I recently had an email war with a preparer of tax … Continue reading

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FPA Congress Paper

I can’t be bothered carrying hundreds of copies of my paper for tomorrow’s presentation at the annual FPA Congress up to Brisbane… So attached is the paper for delegates (and anyone else with an internet connection) to download. Enjoy (But … Continue reading

Posted in Article, Super | Leave a comment

And so there is another scheme to avoid Division 7A

A few weeks after 4 December 1997 I was told about my first Division 7A avoidance idea. And by mid 2008 the first amendment to Division 7A came about to undo this idea (the old section 109UB to stop trusts … Continue reading

Posted in Income Tax, Planning Idea, Planning Stuff, Tax Policy | Leave a comment