Australian private company is wholly owned by an overseas company (only shareholder is the overseas company – 100% ordinary shares). This Australian private company will be ceasing the operation in December. The business got a loss, so there is no need to pay company tax. This company wants to lodge the company tax return in January / February and deregister the …
Costs as a Tax Deduction?
We have a client who employed a new worker from Queensland to work in her Outback Hotel. The client paid the costs for the flight ticket and hotel isolation. Can our client claim these costs as a tax deduction? Answer The employee can’t claim a deduction for removal or relocation costs incurred to transfer or relocate for work purposes. This …
Trust Distribution of Discount Capital Gain
Could you advise on the information to be provided in the Trust tax return for a non-resident individual who will receive a discount capital gain from property sold in Australia by a resident Trust? And what forms, if any, are required to pay any Australian tax liability, how the tax calculation is determined and who is required to prepare, pay, …
Benefits That Attract FBT
We are a charity registered with ACNC and income tax-exempt. Would you advise which of the following benefits would attract FBT? Gym membership Community service day off or well-being day off Employer funded paid parental/maternity leave Flu vaccinations Rostered days off Higher super contribution by employer Paid health cover or contribution to health cover Car parking Concessional leave Christmas lunch …