Author Archives: Ken Mansell

About Ken Mansell

As a stay at home Dad most of the week this is my way of pretending I am still the tax counsel of ASX and SEC listed companies, working at big 4 firms, working at the Federal Treasury, on the Henry Review and at Parliament House for the previous government.

The R&D Tax Incentive is cut by half

In the Budget we got the following announcement… From 1 July 2018, companies with turnover of $20 million or more, the rate of the R&D tax offset will depend on the R&D expenditure as a proportion of total expenditure for … Continue reading

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Remember that if you don’t like this budget there is an alternative… The Opposition…

The facts… A taxpayer has a discretionary trust and the trust owns a share in a company that runs an accounting practice. The taxpayer is paid a salary of $250,000 for his work in the accounting practice. The profits of … Continue reading

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Beer, Tax Cuts and Fairness

Sent this into a newspaper that will be screaming about unfair tax cuts tomorrow. Let’s see if they publish it. UPDATE… They did (it’s near the bottom of the page – https://www.canberratimes.com.au/national/act/roos-are-a-capital-asset-20180509-p4zecz.html) Five men decided to split the $100 beer … Continue reading

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Last sitting week of Parliament B4 the Budget..

So what tax laws are sitting in the Parliament for our hard working MPs to consider in the last sitting week before the May Budget? A bill that has been in the Parliament for 4 days less than a year … Continue reading

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Is the Opposition just trying to kick SMSFs?

As I have commented on before, the Opposition has announced that if there is a change in the Government, they will stop almost all refunds of excess imputation credits. Resident individuals or super funds will still be able to use … Continue reading

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ALP Tax Policy for 2019 election

The ALP don’t appear to be scared to take some radical tax changes to the next election. Today they announced removing the ability to get excess imputation credits refunded… There will be some very unhappy SMSF and retirees (and charities) … Continue reading

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Main Residence Exemption and Foreigners

Individuals who are foreign residents at the time a CGT event occurs to a dwelling (or for a compulsory acquisition a part of a dwelling) in which they have an ownership interest are not entitled to the CGT main residence … Continue reading

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