On October 22nd, 2018, the Australian Government released a document proposing the implementation and amendments to improve the integrity and operation of Division 7A. This was in response to the Government’s investigation for improvements to the Income Tax Assessment Act 1936.Division 7A BackgroundIf you’re a...
The Australian Parliament has recently passed new legislation to fast-track the reduction of corporate taxes from 27.5% to 25% within the next five years. The new ‘Treasury Laws Amendment Bill 2018" is estimated to provide tax relief for around 3.3 million small to medium-sized businesses....
As parents, and even grandparents, one of the ways we like to give to our children is through money or financial assistance. There are, however, a lot of issues that can arise when it comes to gifting money. It’s always best to get advice on...