April 20, 2021

The client (a private company) has a loan from a shareholder (an individual). The shareholder wishes to forgive part of the loan owing from the company. What are the tax implications for the company and the shareholder, if any? No interest has been charged or paid on the loan.

A client purchased a franchise (that is, a right to operate as a franchise in a certain area). The client did not go ahead with the franchise business but did spend $25,000 on the purchase.Is the $25,000 capital or is can this be claimed as general business deductions against his other business income?

March 26, 2021

The first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny question for employers about individual rights, workplace health and safety, and vaccination enforcement.

Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.

March 7, 2020

Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.

The ATO’s recently released interpretation of the tax treatment of capital gains distributed by an Australian discretionary trust to non-resident beneficiaries will have a significant negative impact for some.