Author Archives: Ken Mansell

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 →

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 →

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 →

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 →

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 →

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 →

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 →