Tax Stings

Snapshot: Acquiring assets through a company may attract various tax implications. Always advise the client to talk to an accountant before buying property in the name of a company. Your farmer...

Will and Kate are an elderly couple you have been working with for only a little over 12 months. You have done four jobs for them already, and so thrilled when Will calls you again in the space of 2...

You are relaxing by an open fire nursing a mug of warm mulled wine when your phone starts ringing.  You look down and see it is work.  Whilst you had asked not to be disturbed on your skiing...

Snap shot: Always follow testamentary options strictly in accordance with the will. Check for Revenue Rulings for guidance Megan, a long-term client and friend comes in to see you about her late...

Given the complexity of the taxation regime and the requirement for taxpayers to initially self-assess their liabilities, disputes between taxpayers and the Australian Taxation Office (ATO) will...

Division 7A of the Income Tax Assessment Act 1936 is a poisonous well of hissing snakes for general practitioners when dealing with companies.  In very broad and simple terms it can claim income tax...

Where a discretionary trust owns residential property and the deed for the discretionary trust does not specifically exclude foreign beneficiaries, the trust will automatically be classed as a...

Tax stings lurk in all kinds of succession planning matters. The following scenarios illustrate the importance of lawyers and accountants working together in the best interests of their clients. The...

Your good client and friend Fergus rings and asks you to act for him on a sale. Fergus is a solo accountant and a bit of a wheeler and dealer. You do a fair bit of work for him. He says that he has...

It is first thing on Tuesday morning when you receive a call from your client Lachlan who wants you to review an auction contract for a farm that has come up for sale next to his. The auction is...