This article discusses the implications if the debt forgiveness legislation that was contained in the TLAB (No 5) 1995, is reintroduced. Issues highlight in the article include: forgiveness of a commercial debt; calculation of the gross forgiven amount; calculation and application of the net forgiven amount; debt/equity swaps; debt parking; intragroup debt; partnerships; liquidations; debt waiver; and natural love and affection.
This paper provides a guideline to the assessability of benefits under FBT legislation. It outlines: useful exemptions and concessions; exclusions; reductions in taxable value; rebatable employers; when should motor vehicles be provided; salary sacrifice; entertainment rules; and redirection v FBT.
This article discusses and highlights the tax and legal aspects of the purchase, operation, and disposal of a franchise. It deals with the various forms of franchises (product, manufacturing, and system) and includes: the Franchising Code of Practice; a structure; types of fees payable; capital and revenue implications; treatments of the initial fee and pre-franchise payments; goodwill; and stamp duty.
This article discusses direct investment versus managed trusts. It concentrates specifically in the areas of Australian Equities and Property sectors, due in part, to their easy accessibility to the Australian investor.
This article discusses leases and leasing, highlighting areas such as: leases for tax purposes, residuals, tax treatment of genuine and non-genuine leases, balloon payments, prepayments, trade-ins, sales and leaseback of assets, anti-avoidance provisions, fixtures, installation costs, motor vehicles, and capital gains tax.
This article discusses Part IVA, and concerns to keep it within sensible and practical bounds. Issues raised include: the scheme; tax benefits; section 177D; the Commissioner's discretion; assessments; and the past and future.
Payments to contractors/employees - the new regime
This article discusses the proposed new pay-as-you-earn (PAYE) provisions set out in TLAB (No 5) 1995. The main purpose of the amendments is to counteract arguments that independent contractors are not caught by the PAYE provisions if they are engaged to produce a particular result.
5 act play: Pollorosto's plight - a continuing saga
This convention paper is a fictional play about a couple being audited by the ATO and being caught out understating the income derived by their partnership from the chicken shop which they operated.
This article primarily discusses succession planning, however ideas highlighted in the paper will also benefit primary producers who may not have successors to their land and business. Topics covered include: the essential elements of a succession plan; farm ownership; business structures; income tax planning (including trusts); retirement incomes; wills; and stamp duty.
The article highlights some of thorny issues associated with trusts, brought about by the Government's crackdown on the use of trusts by the richest 100 Australians. The crackdown however, has the potential to hurt charities and small family trusts.
This presentation covers:
- the nature of goodwill
- the characteristics of goodwill
- restrictive covenants
- CGT implications of selling goodwill, licensing (leasing) goodwill, apportionment of consideration and Everett assignments
- stamp duty implications of those dealings
- pre-consultative document on CGT and goodwill
- other practical issues.