Categories
Uncategorized

A paper on the proposed changes to Division 7A

If you want more analysis of the Treasury’s proposed changes to Division 7A in its October 2018 paper, and lots of complaints about how they have handled the process and the outcomes, I have written a paper on it that can be downloaded by clicking on the link below. Enjoy. Division 7A to change

Categories
Uncategorized

Division 7A – Changes, changes and more changes proposed to start from 1 July 2019

The Government has promised a series of changes to Division 7A and we have finally got an idea of what these changes will be.  Remember this is just a discussion paper, but I am confident these all will occur. Change 1 – Simplified Loans The biggest change is that the current 7 year and 25 […]

Categories
Uncategorized

No deductions for expenses related to holding vacant land

On Budget night in May the Treasurer indicated there would be changes from 1 July 2019 that would deny some deductions for expenses related to holding vacant land. In Exposure Draft – Treasury Laws Amendment (Measures For A Later Sitting) Bill 2018 we finally have an idea of what they are going to stop us claiming […]

Categories
Uncategorized

Yes, changes to company tax rates again…

But not for a few years… As we have previously discussed here, there are two company tax rates. They are 30%, or if the company has an aggregated turnover under $50m ($25m last year) and has less than 80% of its income from “base rate passive income”, the rate is 27.5%. In the Treasury Laws […]

Categories
Uncategorized

Everatt assignments and the SBCGT concessions

We now have Exposure Draft legislation that proposes to prevent the small business CGT concessions from being available for assignments of the income of a partner and other rights or interests in the income or capital of a partnership that are not a membership interest in the partnership. Since the 1980 High Court decision in […]