Category Archives: Income Tax

More on the Small Business Rollover

Yes I am way too excited about this… But the Commissioner has produced his first two bits of guidance on using this rollover. In the first he looks at the consequences of using the rollover. This is all pretty simple stuff … Continue reading

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Small Business Restructure Rollover and Stamp Duties

I have discussed this rollover before so if you have no idea what I am talking about have a look at these links first. The rollover is very broad, applying to CGT assets, revenue assets, trading stock and depreciable assets. … Continue reading

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Property transactions and clearance certificates

The Tax and Superannuation Laws Amendment (2015 Measures No 6) Bill 2015 is now law (just awaiting Royal Assent). I don’t like it at all… But we now need to understand that from 1 July 2016 a purchaser of certain CGT … Continue reading

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The end of tax depreciation schedules

I don’t know if the Quantity Surveyors have worked it out yet, but they have the most to lose from the changes to negative gearing that are currently being discussed. Labor is promising to remove negative gearing from all purchased … Continue reading

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The Small Business Restructure Rollover is now before the Parliament!

Its almost law!!!! Under this Bill, from 1 July 2016, small businesses can roll-over “active assets” that are CGT assets, trading stock, revenue assets and depreciating assets as part of a genuine restructure of a small business from one entity … Continue reading

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Innovation Tax Changes

Why does “innovation” have anything to do with tax changes? In the Government’s Innovation Statement most of the expenditure is making tax changes. Tax is a revenue raising device… Not a method to change people’s actions. When you use tax … Continue reading

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What a waste of time

It is stupid tax policy made worse… From 1 July 2016 there will be a 10% non-final withholding tax on payments made to foreign residents that dispose of certain  property. The effect of this will be that where a foreign … Continue reading

Posted in Income Tax, Tax Policy | 2 Comments