by Chan & Naylor | Nov 13, 2020 | Property Investment, Tax & Accounting
Discretionary Trusts in NSW: Foreign Persons – Surcharge land tax & purchaser duty Recently enacted changes to purchaser duties and land tax arrangements will expand surcharges for trusts which include foreign persons as beneficiaries. Legislation passed to amend...
by Chan & Naylor | Nov 13, 2020 | Property Investment, Tax & Accounting
Absentee Owner Surcharges | Duties Act 2000 (Victoria) From the 2020 land tax year, an absentee owner surcharge of 2% applies to Victorian land owned by an absentee owner. The surcharge was 1.5% from 1 January 2017 and 0.5% for the 2016 land tax year. The absentee...
by Chan & Naylor | Sep 15, 2020 | Property Investment, Superannuation, Tax & Accounting
Reasons for setting up an SMSF Most people invest their Superannuation in Retail or Industry Superfunds with their employers making contributions of Super guarantee contributions and sometimes salary sacrifice. Fund managers then make investment selection on behalf of...
by Chan & Naylor | Sep 2, 2020 | Business, Small Business, Tax & Accounting
An understatement is that this has certainly been a difficult year, and we are certainly seeing that many businesses have made a tax loss. A tax loss is when the total deductions you can claim, excluding gifts and donations, are greater than your total income for any...
by Chan & Naylor | Jul 22, 2020 | Business, Tax & Accounting
JobKeeper extension has been announced by the government. Payment for JobKeeper is now extended until 28 March 2021 for businesses and not-for-profit organisations severely affected by the COVID-19 pandemic. The payment extension, however, will be reduced and paid at...
by Chan & Naylor | Jul 6, 2020 | Business, Tax & Accounting
A reminder has been issued by the ATO to employers reporting through STP (Single Touch Payroll). That applies to just about every employer, assuming that deferral or exemption isn’t involved. Employers need to have payroll information finalized for the income year of...
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