Fringe Benefits Tax – Ensuring you are ready for the 2022 FBT Season

    14/04/2022
  • . 14 April 2022 In readiness for the 2022 FBT season, we provide you with the latest updates and developments. 2022 FBT Rates, Dates and Thresholds For the 2022 FBT year, the FBT rate will remain the same at 47% with the associated Type 1 and Type 2 gross-up rates also remaining unchanged. Do I Read more…

  • ATO releases impacting private family arrangements – Part A

    05/04/2022
  • 29 March 2022 Last month the ATO released a new draft ruling and other practical guidance relating to their position on various common trust administration practices and structures used in private family arrangements. In particular, what is referred to as section 100A reimbursement agreements and the ATO’s administration of unpaid distributions to corporate beneficiaries under Read more…

  • Is the change in control of trusts as you actually intend?

    14/03/2022
  • 8 March 2022 Trusts are a preferred vehicle to accumulate and preserve investments for the benefit of the family group. Overtime assets with significant value are built up and as a result careful consideration is required to ensure the appropriate persons are given control to continue your wishes as to how your trusts are to Read more…

  • An update on the use of a corporate beneficiary

    08/03/2022
  • 21 February 2022 It is common amongst private groups to have structures that involve discretionary trusts that have distributed to companies that are eligible beneficiaries of the trust. Although it was always intended that these distributions were eventually paid down in cash to the company, invariably the trust would not have such sufficient available liquid Read more…

  • Who should be Trustees, Appointors, Shareholders and Directors?

    21/02/2022
  • 14 February 2022 Discretionary trusts and companies are common vehicles used as business and family group structures. Both entities have advantages and disadvantages and where correctly structured they provide a layer of asset protection for the ultimate beneficiaries and shareholders of these entities. In order to achieve your asset protection and succession objectives consideration should Read more…

  • Asset protection lessons for Small to Medium Enterprises

    14/02/2022
  • 7 February 2022 Asset protection is a key consideration in any business continuity plan, to not only protect the business but also its future owners including family members from the three ‘D’ of claims – debt, divorce & death. Safeguarding your personal assets It’s the front of mind concern for corporate directors or owners of Read more…

  • Beneficial Superannuation Legislation Passes Through Parliament

    11/02/2022
  • 11 February 2022 Last night (10 February 2022) legislation passed both houses to implement the bulk of the changes to superannuation announced in the federal Budget in May 2021.. This includes: Reducing the age where the downsizer contribution is available to 60 Removing the work test up to age 75 for non-concessional contributions and salary Read more…

  • ASSET PROTECTION – Protecting your family home

    07/02/2022
  • 24 January 2022 There have been a number of recent developments that have impacted the future structuring of asset ownership particularly for business owners. It is now timely to review structures and succession planning from a practical perspective to ensure your assets are protected. What has become evident is asset protection considerations in isolation without appropriate Read more…

  • Mandatory Director Identification Number – Have you applied?

    24/11/2021
  • 24 November 2021 Director ID Numbers required for both current and future directors All company directors can now apply for their new Director Identification Number (DIN). Directors will need to verify their identity as part of a new DIN regime being administered by the newly created Australian Business Registry Services (ABRS) via the implementation of the Modernising Read more…

  • Employee Share Schemes – Are you aware of the tax implications for participants?

    17/09/2021
  • 17 September 2021 Many companies offer equity incentives to employees, directors and consultants as a remuneration incentive. The regulatory and tax rules relating to Employee Share Schemes (ESS) are complex and it is important to ensure that arrangements are structured to ensure that individuals do not have an unexpected tax liability at a time when Read more…