While much of the information Australians need to complete their tax returns is pre-filled these days, it's not as simple as logging into myTax and punching a button. "While we receive and match a lot of information on rental income, foreign sourced income, and capital gains events...
Topic 6 Capital Gains Tax (CGT) 1. The net capital gain is assessable under s. 102-5(1). 2. Meaning of CGT asset S. 108-5(2): a. Part of, or an interest in, any kind of property or legal right. b. Goodwill c. An interest in an asset of a partnership. d. Partnership in...
It was reported that the capital gains tax net were now cast wider to catch the sale of shares in a foreign company or an interest in a foreign trust that directly or indirectly owns "taxable Australian property." The term covers land and buildings physically located in the country and ...
There can be no guarantee that the tax position or proposed tax position prevailing at the time of an investment will not change. Dividends and capital gains on securities may be subject to withholding taxes imposed by the countries in which the investments are held. ...
Laura and her team have been instrumental in giving me peace of mind in owning an overseas property. She has always been prompt and responsive and has shown resilience by not giving up on my VCAT case which has taken almost 2 years to resolve. ...
The dividends and capital gains should be declared on the grandson’s tax return. The general cost of living has sharply increased in Australia over the last few decades and we can assume that it will continue to climb. Investing a small amount for the benefit of your child or grandchild ca...
If the property sold was held in an individual’s name or in a trust for 12 months or more, the taxpayer may be able to discount the capital gain by 50 per cent. The tax on capital gains must generally be paid in the year in which the sale contract is entered into, but capital lo...
“When our family business was split up I didn’t inherit a property. I got some cash and cattle but also the tax liability of whole lot of forced sales. Land values at the time were skyrocketing and it looked nearly impossible to get back into some land that was a livi...
Sometimes, where children are born in Australia and the family is considering a move overseas on a trial or permanent basis, couples will be advised to put in place a "pre-emigration contract" that details what will happen to their children if they separate. However, the risk of separation ...
Brand Finance's services support a variety of business needs: • Technical valuations for accounting, tax and legal purposes • Valuations in support of commercial transactions (acquisitions, divestitures, licensing and joint ventures) involving different forms of intellectual property • ...