I have been collecting private rulings, ATO IDs and any other ATO publication that covers the topic of deductibility of interest when one spouse...
A bucket company is a company that is set up with the sole purpose of receiving income from a discretionary trust. The main benefit of a bucket...
Loans can be converted into gifts but gifts cannot be converted into loans. A gift is the transfer of ownership of an asset from X to Y. X would...
A discretionary trust with negative income means the loss is trapped in the trust and any franking credits attached to share dividends will be...
Tax Tip 498: Will Bucket Companies be Redundant after the Tax Cuts in 2024? Individual tax rates are changing on 1 July 2024 which is just over...
When one Joint Tenant becomes bankrupt their Joint Tenancy is severed and the other owner will end up owning the property as Tenants in Common in...
Legal Tip 417: Can a Person Lend a Related Entity Money at 2 different Interest Rates? Sure, a person can lend money to some at different at...
No. S 128-10 ITAA97. Also see TD 95/47 Taxation Determination Income tax: capital gains: how is a net capital loss treated if it is unrecouped...
Generally, it is better for your children if you die and leave them the assets in your will rather than you selling the assets before you die and...
If the main residence was not used to produce income at the date of the owner’s death it could generally be sold within 2 years without having to...
Ideally you want to have the potential to choose which property you can claim the main residence CGT exemption on. Where people have a home and...
What happens to the interest on a loan if a person has borrowed to buy property and later makes a declaration of trust saying they now hold that...
This is little understood. From a tax point of view a refinance is paying out one loan with another. From a lending point of view, it is generally...
Many people want to help out relatives and do this by transferring existing properties to them for under market value. This might be a noble...
Can someone sell existing shares that they own and then debt recycle to buy them back and claim the interest? Example Homer holds $100,000...
In VIC trusts pay a higher rate of land tax then non-trusts such as individuals and companies. But for someone who owns a large amount of land...
Most people would assume that there is no point in debt recycling an investment loan where the interest is already deductible. But it could be a...
It is possible for the main residence of a deceased person to be sold within 2 years of the death with the property fully exempt from CGT. The...
Just because you are married, or in a defacto relationship, doesn’t mean you cannot contract with your spouse. You can, but there is a general...
The so called 'stage 3 tax cuts' come into effect in 2024/25 financial year. This is law - it has been legislated and it can be found in Schedule...
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