Tax exemption for ‘granny flat’ arrangements

To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.

Investment, TaxationJPR BUSINESS GROUP4 May 2021tax exemption, taxation

Tax & Employee Benefits: FBT 2021

A fringe benefit is a ‘payment’ to an employee or an associate (an associate is someone related to you such as a spouse, child or even a friend), but in a different form to salary or wages. A benefit might be as simple as hosting a work Christmas party, providing car parking, using a work vehicle, or providing the goods or services of the business at a reduced rate to what the public pay.

2021 Risks & Opportunities

With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to ‘normal’. The recent Westpac-Melbourne Institute Index of Consumer Sentiment articulates this desire to ‘get on with things’; sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.

What is a financial plan and why do you need one?

Understanding what a Financial plan is and how Financial Planning can help is often misunderstood.

This is because people typically associate the potential solutions a financial planner can offer – like investing, insurance or super advice for example – as being the main value of the financial planning relationship. But in reality it is the plan we help you create itself, that is where the true value lies. A plan that is yours – to achieve what is important to you – and only then, do we relate the products that can help you achieve your objectives to your situation.

Covid-19 Business Support and Financial Assistance Finder

The Victorian Government has released the Covid-19 (Coronavirus) Business Support and Financial Assistance Finder online.

Capital Gains Tax and the family home: foreigners and expats excluded from tax exemption

Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the impact.

Investment, TaxationJPR BUSINESS GROUP31 January 2020cgt, Capital Gains Tax, Taxation, capital gains

Can the tax office take money out of your account? Your right to know

You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. The question is, do you really know what powers the ATO have?

Investment, TaxationJPR BUSINESS GROUP1 November 2019tax, Taxation

Vacant land deduction changes hit ‘Mum & Dad’ property developments

Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.

Investment, Superannuation, TaxationJPR BUSINESS GROUP1 November 2019tax, Taxation, property, property law

Towards Zero Interest Rates (and what it means to you)

The Reserve Bank of Australia is widely tipped to reduce interest rates again to historic lows. Easton Wealth economist Emmanuel Calligeris explores the impact.

The ATO 'removes the gloves' on overseas income

How you are taxed and what you are taxed on depends on your residency status for tax purposes. As tax residency can be different to your general residency status it’s important to seek clarification. The residency tests don’t necessarily work on ‘common sense.’