The tax consolidation rules in Part 3-90 of the Income Tax Assessment Act 1997 offer Perth SME’s and their business accountants a range of benefits. This is especially so for private groups, family businesses, and small to medium enterprises (SMEs). The article will address the following topics: A. Pro’s and Con’s of Forming a Consolidated […]

Family Trust Elections (FTEs) and Family Trust Distribution Tax (FTDT) have been integral components of Australia’s income tax framework since 1998. While tax professionals across Perth, such as lawyers and accountants, should be well-versed in these concepts, it’s essential not to let familiarity lead to complacency. As families evolve and children grow, establishing new tax, […]

Closing a company in Australia is a decision that requires thorough planning and strict compliance with legal requirements. Whether driven by part of a succession of the family business, financial difficulties, taxation, strategic realignments, or other factors, understanding the available options that a Perth business accountant can employ will make a more streamlined process for […]

A common misconception is that Australia has no inheritance tax. While that is technically true, it is not the case in practice. The death of a loved one almost always raises a raft of tax issues and triggers events that have a tax implication or trigger a tax event. As Perth tax accountants, tax planning […]

Tax law structuring options for employee share schemes are generally not attractive to medium-sized businesses and their accounting advisers in Perth. The ATO-endorsed employee share scheme incentives are good on scale, but the tax-free discount of $30k ($1,000 for others) for start-ups is ordinarily too small compared to the accounting advice and valuations needed for […]

When it comes to capital gains tax, the 50% CGT tax discount is a powerful tool. The knowledge that you can potentially enjoy half of your profits tax-free is common among Perth tax accountants and business families, but it’s also a key advantage that can significantly impact your financial decisions and how you go about […]