From Leigh’s Corner #46 Disciplinary meetings between employers and employees are often difficult and tense processes and many employers are not trained in dealing with difficult situations involving workplace disputes, breaches of policies and procedures and conduct that requires disciplinary action up to and including dismissal. There are some basic steps that can be followed which may alleviate some of …
Structure of Joint Commercial Property Investment Purchase
Two individual persons want to buy the commercial property together for investment. We would like to know the best business structure for this use regarding tax minimisation and asset protection. Answer Here are some variables (not exhaustive) What is the gearing ratio, and will the property be negatively geared?What is the investment horizon and how long do they intend to …
Capital Gains on Client Base Sale
I have a Corporate Client who is selling off part of a Client Base and I’m unsure of the Tax Consequences, although it does appear to be a CGT Event. The Sale Price is expected to be $175,000. A Cost base is yet to be established, but it will probably be between $40,000 and $80,000. It’s all Goodwill. The ATO …
Leighs Corner 46
Article Number 46 The Role of a Support Person in Disciplinary Matters Disciplinary meetings between employers and employees are often difficult and tense processes and many employers are not trained in dealing with difficult situations involving workplace disputes, breaches of policies and procedures and conduct that requires disciplinary action up to and including dismissal. There are some basic steps that …
Property Purchase and Main Residence
Hello. I refer to October 2014, Tax Smart magazine, issue number 0071, example 1, on page 29. This is where Susan purchased a property in Melbourne for $300,000 and occupied it as her main residence for 5 years. She moved to Sydney for work in 2000 and rented out her Melbourne house. A qualified valuer valued the MV of her …
Employment Type of Appointment-Based Worker
The new dentist has no set hours during the 5 days at an office (pay rate 40:60 inc. super & etc.), so he works only if there is a patient. The employern is managing the dental assistants and receptionists. He also has P.I and works no other place. I think that he can be an employee any time. But he …
PAYG Calculation Question
We have questions relating to PAYG and the possible calculation of such for the below situation. We have an employee who has resigned and given no notice. According to their contract, the employee is required to give 3 months’ notice and if they don not, then they are required to compensate the council similar as defined in the below clause …
How to Calculate Flat Rates of Pay
Q: Can you provide information about flat rates of pay and what is included in the rate? Are holidays & holiday pay incorporated in the rate? How aren public holidays paid? How is sick leave applied or are these all part of the Flat rate payment. Can the flat rate for ordinary hours 38 hrs be sayn $40.00 and the …
Tax Deduction for 25k Super Contribution
Part (1) – The Client is 66years old, has made a concessional contribution by way of salary sacrifice to a defined benefit fund since 1/7/2017: $25,000.n The question: Is he entitled to get a tax deduction up to $25,000 in the year 2018 income tax? If so, what is the negative effect on his retirement in the near future. The …
How to Calculate Loan Interest Portions Based on Use
Q: Mr A has obtained a loan $250k using his residential house as security. For example, he used $100k for personal use and used $150k for investment use. Unfortunately, his loan statement does not distinguish the monthly interest and principal payment for personal use and investment use. What’s the best way to calculate the interest and principal payment of investment …