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The ATO’s final position on risky trust distributions Copy

Heather Moore
Money Talk, Property, Self-Managed Super Fund
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The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach.   Section…
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States Move on Property Based Taxes

Heather Moore
Insight, Money Talk, Property, Spending
Queensland backs down on Australia wide land tax The Queensland Government has backed away from an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s Australia wide land holdings from 1 July 2023, not just the value of their Queensland property. The amendment…
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Tax Increase

To Cut, or Not to Cut?

Heather Moore
Budget, Information, Money Talk
Stage three personal tax cuts In September, amid a climate of startling interest rates, UK Chancellor Kwasi Kwarteng announced a series of tax cuts, including the reduction of the top personal income tax rate that applies to those earning more than £150,000 from 45% to 40%. Just ten days later, following market turmoil that saw…
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120% deduction for skills training and technology costs

Heather Moore
Case Study, Information, Insight, Money Talk, Small Business, Spending
The Government has reinvigorated this announcement for small and medium businesses An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and details released in recent exposure draft…
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