Australian Tax Residency

bo2dev Tax

Question Part A Hi, I have a client that has a question surrounding Australian Tax Residency. His circumstances are as follows: Had been an Australian resident since birth In 2007 he moved to Indonesia permanently with his spouse & 2 children They rented out their Principal Place of Residence for 2 years & then sold it In 2012 he split …

Capital Loss Question

bo2dev Tax

Question The details are of a person who is involved in only a couple of racehorses. On our research it appears racehorses are treated as personal use items. In 2014 he purchased a racehorse for $180,000, had it trained and cared for, with costs of about $120,000. Overall cost about $300,000 invested. The horse never raced and eventually was sold …

HR Staff Question

bo2dev Tax

Question We are requiring assistance to resolve an issue with an employee’s personal hygiene. Our employee has attended work of several occasions with very distinct body odour. This person is our first point of contact for visitors to the premises and works in our admin department which comprises 4 staff in total. Our office is open plan and includes a …

Christmas Message 2018

bo2dev Tax

How to Avoid Christmas Party Disasters The festive season can be a happy and joyful time but it can also be a period when unruly staff behaviour can ruin careers and damage working and business relationships. The Christmas and New Year period are notorious for employee related incidents that can have a major detrimental impact on an organisation no matter …

Franking Q and A

bo2dev Tax

Scenario: 2015 – company had profit of $10,000. Company paid 30% tax 2016 – company had profit of $12,000. Company paid 28.5% tax 2017 – company had a loss of $100.00 2017 – company ceased trading, capital losses of $160,000 2018 – company had no income, trading losses of $2,000 Questions Can the company pay 30% franked dividends to its …

FBT-Question

bo2dev Tax

QUESTION We have a construction company and I was wondering if we were allowed to salary sacrifice mortgage repayments for some employees, and if so, would the company have to pay 40% FBT? This content is accessible with a current product subscription; please log in or purchase to read further.

Tax and Superannuation Query

bo2dev Tax

QUESTION I would appreciate your response to a tax and superannuation question that I have. For the purposes of the question, please assume: The entity is definitely a ‘religious institution’ according to the meaning of the term ‘religious institution’ as it appears in the ITAA and then FBTAA. This content is accessible with a current product subscription; please log in …