Author Archives: Ken Mansell

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 … Continue reading →

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 … Continue reading →

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 … Continue reading →

Last year, 6.7 million taxpayers claimed a record $7.9 billion in deductions for ‘other work-related expenses’ which includes expenses related to working from home. This worries the Commissioner… Technology-driven changes to the employment market are seeing record numbers of Australians … Continue reading →

We finally have some long-feared changes to the small business CGT concessions. These are in the Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018 and have now passed the Parliament. These changes propose to add additional basic conditions for … Continue reading →

I have spent some time working with the Inland Revenue Division of the Solomon Island. Way back in 2005 the Solomon Island Government introduced subsection 20(2A) into their income tax legislation. It states: By 1 July 2019 the Australian tax … Continue reading →

For Fathers Day My boys bought me a new electric shaver… All I could think about was tax avoidance… That is because in 1698, the cleanly shaved Emperor of Russia, in a hope to make Russia men look more European, … Continue reading →