LSL to cover Sick Leave

James Murphy Tax

Question: I have a staff member who has been employed for nine years as of May this year. He has no personal leave. Can he use his long service leave entitlements to cover his sick leave? He was away for surgery for five days. Answer If workers require more time off work than they have accrued in personal leave, they …

Super member investment

James Murphy Tax

Question: This question is about my client. They belong to the APSS superannuation fund with a member saving account and defined benefits. The trustee has decided to change strategy and next year 2022 and merge with Sun Super. Will the change and the merger impact member investments as their savings are invested in conservative investment options and are 68 years …

Sale of Shares

James Murphy Tax

Question: Could I have your thoughts/comments on my client’s position? He has sold all his shares to another Company that will assume the running of the business in which he and 2 others were the operators/employees/directors. They have also sold all their shares, like my client. My client’s shares sold [600,000 units] were acquired [for $900] upon incorporation some 10 …

Transfer of Livestock on Cessation of a Partnership

James Murphy Tax

Question: Just requiring verification of transfer of livestock on Cessation of a Partnership, 4 Partners in equal shares.  The livestock is transferred to 2 Sons in equal shares, and they will trade individually going forward. Can I use the election and transfer the livestock at book value, i.e.  3661 Sheep at $21966?  Also, can you please very the correct Notice …

GST on Land Sale

James Murphy Tax

Question: The client is getting old and wants to sell the land they own. It is approx. 30 acres on the edge of town. They are not registered for GST, and no business has been carried on, on the land. Meaning not having any cows, etc., on the land. They have owned the land for several decades. Do they have …

Annual Leave – Leave Loading

James Murphy Tax

Question: I have an educator who is on leave without pay until the end of the year. They have requested two weeks of their annual leave. I am going to pay it. Do I have to pay leave loading on these two weeks? Do you have a template letter that I can give to the employee to sign off on …

GST on House and Land Packages

James Murphy Tax

Question: My client has purchased several blocks of land. Some with GST, some without. They are registered for GST. Their business is property development; they contract to the builder to build the house and sell it to people. Hence a house and land package. I.e., they purchased one block for $143,000 incl. GST. The block is a standard size house …