i have a client with a 6 month old doing child modelling. They have a TFN. its earned income for the child. taxed at marginal rates.
Some big changes from 1 Jan 2024 for digital nomads living in thailand...
Paul good response and an old TD but https://www.ato.gov.au/law/view/pdf/pbr/td1999-069.pdf says that two or more units of accommodation that are...
@Terry_w is referring to the Sale of one of the properties. Both will not be CGT Free I did a LinkedIn post recently on this. Even John Jeffreys...
as a non resident the period during which you are non resident you don't get the 50% CGT Discount - Income Tax Assessment Act 1997 Subdivision...
https://www.ato.gov.au/law/view/document?DocID=txd/td200663/nat/ato/00001 A good read
Agree with you there i always tell people the things i post are EXAMPLES not how they should do it. Revenue account - maybe a company. Capital -...
And one thing that is extremely important if its in VIC the development agreement must be drafted carefully to take into account the economic...
Thats my diagram (the one the OP posted initially) Structure one which is what @Terry_w mentions is probably the most common setup i use when...
Seems like some well respected tax lawyers and accountants in the profession think this is not only something to laugh at but also potentially...
I have a different view on this which is the basis of a Private Binding Ruling I have just submitted. Will let you know the outcome.
We both know who this is. Yet despite that they have made and continue to make millions of dollars per annum and have a net worth far greater...
Businesses that have an "aggregated turnover" of less than $50m are eligible for a 20% bonus deduction in the 2023 FY for expenditure wholly or...
Whether it goes into a rental schedule or D15 will still produce the same result. It is deductible. I think the audit risk is the same in either...
I was advised by the ATO officer to include it in a rental schedule. It doesnt cause a validation error. Ive lodged many like that. Maybe...
From 1 July 2022 the work test was abolished for most superannuation contributions and you were aged 67 or over. However the work test did remain...
There is a big sleeper issue with Div 7a loans that even many accountants have managed badly. Say you have a Division 7a from a company to an...
i thought ChatGPT answered everything for Uni assignments these days ?
it can depend. what was done when the asset was originally purchased ? did they enter into a bare trust agreement. If the co-owners enter...
@Paul@pfi agree. Where a property is used for income producing purposes and the replacement of the roof - is not an initial repair, -...
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