Franking Q and A

Joshua Easton 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 …

Super Contributions and Director Fee Question

Joshua Easton Tax

QUESTION My question is about Super contributions & Director fees. Super contribution: – My accountant has suggested we salary sacrifice contributions to the super limit of 25,000. Can I make the personal contribution of $25,000 direct into SMSF account as we use a family trust (my husband is a director – he does not work in the business) to operate …


Joshua Easton 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

Joshua Easton 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 …

Textbook Tax Deduction Query

Joshua Easton Tax

QUESTION I am enrolled as a full-time master’s student at Melbourne Uni. I receive a tax-free graduate research stipend. The role is part of a training program, so I can qualify as a veterinary pathology specialist, and I teach, perform research and also perform diagnostic duties as part of the role. In recently submitted my tax return and claimed $2000 …

Expense Deduction Question

Joshua Easton Tax

n QUESTION n We require an opinion on the following: – n We have a client that owns two car yards with multiple brand dealerships and they run a sprint car operation that competes around Australia. We aren wanting to know more about the deductibility of the sprint car expenses. n The sprint car set up is a serious operation, …

FBT Query

Joshua Easton Tax

QUESTIONHi, I would like to ask one question. We are a building materials wholesales company. If we provide the company Ute to our sales rep. who need to carry the goods to customer from time to time, does it fall into the FBT? I don’t know the percentage of private use but from my understanding, at least driving between home …

Mid-Year IR Update 2018

Joshua Easton HR/IR, Tax, WHS

Mid-Year Industrial Relations Update July 2018 Increase in Award Wages The Fair Work Commission issued the Annual Wage Review decision on 1 June 2018, and increased the national minimum wage and award minimum wages by 3.5 percent. This will bring the national minimum wage to $719.20 per week, on the basis of 38 ordinary hours per week, or $18.93 per …


Joshua Easton Tax

n Deceased Estate Tax Questionn n I have couple of questions on how income from deceased estate are taxed. Unfortunately, one of our director has passed away with a massive heart attackn before Christmas so I need below clarifications:n n n Main Residence: Director has a house which is his main residence. He brought that house before 1985 (Pre CGT). …


Joshua Easton Tax

n GST Question  n We are an Australian consolidated group registered for GST with a subsidiary company in NZ. An IT firm (Australian Entity) did some work for our NZn business, and have charged out Head Company for the work but with no GST. Is this correct or should they charge us GST?n n n Answern n It is suggested …