As an SMSF Trustee, you have a lot of obligations to manage an SMSF and to understand what is a SMSF and how does it work.   As SMSF tax accountants across Perth, we see a common list of mistakes Perth SMSF trustees make for a range of reasons.     The benefits and downsides of an SMSF […]

When conducting international business operations in Australia, it is essential to understand the concept of a Permanent Establishment (PE) under Australian tax law.  A PE is a critical element that can have far-reaching consequences on the international tax impact of your operations in Australia.    Why is a permanent establishment critical?  As international tax accountants in […]

The adage “You need to spend money to make money” is a common refrain in business and across the business accounting community in Perth. However, without sound budgeting and financial planning, Perth SME’s risk overspending and accumulating excessive debt.  A well-structured budget crafted by your business accountant acts as a compass guiding family business owner […]

Perth tax accountants have discussed the taxation of frequent flyer points over the years. This blog post provides a comprehensive understanding of the income tax and fringe benefits tax implications surrounding frequent flyer programs and classic reward flights in the wake of the Federal Court’s decision in Payne v. FC of T (1996) 66 FCR […]

You generate a taxable capital gain when you sell an asset, like property, for more than you paid. Conversely, you incur a capital tax loss if you sell the asset for less than your original investment.  These gains or losses need to be reported on your income tax return, and you’ll usually owe taxes on […]

The landscape of Self-Managed Super Funds (SMSFs) is continually evolving, and a growing trend involves investments in 50/50 unit trusts (or, more technically, an unrelated unit trust).  In this structure, an SMSF holds a 50% interest in a unit trust, with another unrelated person holding the remaining 50%. The other unrelated party can be another […]