Why the death of your business partners can have dire consequences
Imagine this scenario…. Michael, James, and Nadine are shareholders in a successful business, MJN Solutions. The shares in the company are fairly evenly split reflecting the contribution that each has made to the business, with Michael and James each holding 35% ... |
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There are some businesses that the ATO do not really think should be taxed like a businesses. Unfortunately, just having a company or other structure set up does not protect you.
If you earn income mostly from your own personal skill or effort, like many contractors – then you are in danger of the ATO preventing you from accessin... |
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If you have a digital coin, is it real? And if it’s real do you have to pay tax on it? According to the Australian Taxation Office (ATO), the answer depends on how you are using it and why.
The ATO recently released its position on the tax treatment of the virtual coin bitcoin and other virtual currencies - much to the chagrin of... |
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The general rule is that superannuation is not part of your estate unless you expressly make it part of your will, right? Well, maybe not. A recent case before the courts serves as a warning to make sure that you take care of the details.
Generally, superannuation is passed directly to your nominated beneficiaries and not to your estat... |
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Individuals
Temporary Budget Repair Levy. Adds 2% to the tax rate for every dollar of a taxpayer’s annual taxable income over $180,000
Increase in the Medicare Levy from 1.5% to 2%
Superannuation Guarantee charge increases from 9.25% to 9.5%.
Aged care reforms introduce new assets tests for resident’s acc... |
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