The Government has legislated major changes to capital gains tax (CGT). From 1 July 2027, the 50% CGT discount for individuals, trusts and partnerships will be replaced. In its place comes cost base indexation and a new 30% minimum … Read Full Story
Self-managed super funds are generally not allowed to borrow money. A limited recourse borrowing arrangement, or LRBA, is one of the few exceptions. It lets a fund borrow to buy a single asset, with the lender’s rights limited to … Read Full Story
If your family trust gives a company a share of trust income but does not actually pay it across, the High Court has confirmed this is not automatically treated as a loan back to the trust. That matters, because … Read Full Story
If you are a foreign resident for tax purposes when you sell your Australian home, you cannot claim the usual capital gains tax exemption on it. This applies no matter how long you lived in the home. It applies … Read Full Story
With the Budget changes now legislated, perhaps it’s time to consider more closely how they may affect you, and what you can do about it – especially in relation to the CGT discount changes. So, looking at the CGT … Read Full Story
If you have a family trust there are two recent major (very major) things that have happened that will affect the way they will be taxed in the future. The first is the announcement in the Budget that trust … Read Full Story
If bankruptcy is on the horizon, one of the first questions people ask is what happens to their super. The answer turns on timing, the type of contribution, and how you draw on the fund. The general rule Money … Read Full Story
If you’ve stopped working in your early 60s and are receiving JobSeeker Payment (JSP) while waiting to access your super or the Age Pension, there’s an important rule you need to understand. The conditions attached to JSP can directly … Read Full Story
Discretionary trusts have been a familiar feature of Australian business life for generations, partly due to their suitability for asset protection and retirement planning, as well as their ability to legitimately achieve lower overall tax rates through income splitting, … Read Full Story
So, what do the Budget changes to the CGT discount mean to you? And what these changes will do is to allow any capital gain that accrues up to1 July 2027 to continue to be entitled to the 50% … Read Full Story
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