What you need to know about trust distribution resolutions - Tax Accountants Burwood
An essential starting point for consideration of trust income and how that income is to be distributed is to look at the trust deed. This very central document sets out the rules and expectations for the governance and operation of the trust and the powers that can be exercised by the trustee.
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Tax when you’re headed overseas - Tax Accountants Brunswick
Most people’s “to-do” list when they are planning a trip overseas will likely include items such as travel insurance, phone chargers or taking photos of their passport — but probably the last thing on anyone’s minds will be their likely tax situation before, during or after that trip-of-a-lifetime.
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Businesses get increased access to losses - Tax Accountants Brisbane
In the first quarter of this calendar year, legislation was passed that will supplement the ATO’s current “same business test” for losses with a more flexible “similar business test”. The new test will expand access to past year losses when companies enter into new transactions or business activities.
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Event-based reporting mistakes lead to more SMSF audits - Tax Accountants Bankstown
In the year since event-based reporting (EBR) started for SMSFs (from 1 July 2018) the ATO says an unprecedented number of transfer balance cap reports have required re-reporting.
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Business trading structures: What’s best for your business? - Tax Accountants Artarmon
When you have plans for starting a new business, one of the central decisions is which business trading structure will work best for your venture.
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Carrying forward concessional super contributions - Tax Accountants Werribee
The income year of 2019-20 has just ticked over, which is also the first year in which an individual is able to make additional catch-up contributions to super through the application of unused concessional (before tax) contributions.
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