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Small business CGT tax concessions
- Are you entitled to the small business CGT tax concessions?
The small business CGT tax concessions are one of the most favourable tax concessions available. The very best small business CGT concession is the 15 year asset exemption which disregards CGT derived from the sale of from an “active asset”.
Active asset
The small business capital gains tax (CGT) concessions allow you to reduce, disregard or defer some or all o
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Landlords: don’t get caught making false claims
The ATO is targeting landlords who make false rental investment claims by inflating their expenses https://www.ato.gov.au/media-centre/in-the-ato-s-sights-this-tax-time Generally, the ATO will send you a letter advising that […][…]
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Responding to a Summons
Recognising the importance of responding to a summons is vital, given its potential alarm. Whether it’s a general legal notice or a tax-related issue, understanding your […][…]
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Have You Falsely Claimed GST?
In recent efforts to clamp down on GST fraud, the Australian Taxation Office (ATO) has been vigilant, particularly through initiatives like Operation Protego. This crackdown targets […][…]
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Unlocking the First Home Buyers Grant in NSW: Eligibility, Oversight, and Compliance
With a recent uptick in Revenue NSW investigations related to the First Home Buyers Grant, understanding the intricacies of this process is vital for first-time homebuyers. […][…]
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Understanding Land Tax for Trusts with Foreign Beneficiaries in NSW
In New South Wales (NSW), trustees managing trusts need to be aware of the implications of having foreign beneficiaries on land tax obligations. Trusts with foreign […][…]
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COVID-19, Tax Fraud and The ATO
The Australian Taxation Office (ATO) is aggressively stepping up its campaign against ATO COVID-19 Fraud, focusing on deceitful activities and tax schemes that misuse the government’s […][…]
