ATO Updates View (Changes Mind) on Everett Assignments

As part of the ATO’s focus on the taxation of professional firms, started with the release of TA2013/3, the ATO has updated their view on the tax effectiveness of Everett assignments. The term ‘Everett assignment’ is used to describe an agreement where a partner in a partnership assigns their entitlement […]

2015 Trust Distributions – Getting it Right

As we approach the end of the financial year there is plenty of advice on things that should be done to get a better tax result, ranging from buying a new car to getting health insurance. Note that I didn’t say all the advice was credible, nor should be followed. […]

Structures Part 1, Sole Traders & Partnerships

This is part one of a three part mini-series on structuring a business in Australia. When carrying on a business, there are generally four structures that can be chosen: An Individual (Sole Trader) A Partnership A Company A Trust This part will cover individuals and partnerships, part two companies and […]

2015 Federal Budget

Last night Joe Hockey delivered the Abbott Government’s second budget. As there is no shortage of commentary on the politics of the budget, we have focused on taxation and related changes within the budget and their impact of this budget on small businesses, individuals and families. There are other announcements, […]

New Website Goes Live

We are delighted to present our new website. This is the place we will share tax developments that are relevant to individuals, families and small businesses, as well as other interesting tips along the way. To mark the launch of our new website, we are also starting our promotion for […]