Category «Small Business»

Electric Car FBT Concessions When Own the Company

Question Hi Julia Given you wrote about this Bill in August, I assume you’ll be addressing it more in further detail, however we have a specific question about our situation. We own a small business (a service business trading as a Pty Ltd company) and we are wanting to purchase an electric vehicle. The car …

Transferring Ute to Own Company for Immediate Write Off

Question Hi, My question is in two parts, but relates to company car purchase, so have deemed this to be a simple question. I started a private company (GST registered, sole director, transferred from Sole Trader structure) in 2021 and am also continuing the sole trader business (has ABN) that was started in 2019. I …

The Process to Drag the Cash Flow Bonus Out of the ATO

Question Cashflow Boost- Hi there, A new client of mine has been trading for many years under a company. I noticed that the company did not receive the Cashflow Boost ( they did get Jobkeeper for some periods) The reason for not receiving the cashflow boost seems to be: The quarterly BAS returns for September …

Going from Sole Trader to Company, What to do With the Cars?

Question Hi We have recently restructured the business from a sole trader to a company (shareholder of new company is a discretionary trust) I had a question in relation to the motor vehicles currently owned under the sole trader. It appears that the roll over relief will not be available as the ultimate economic owner …

PSI and Immediate W/off of Vehicle

Question Hi there, I hope this question is appropriate. We have a construction company. The income is Personal services income and doesn’t pass any of the tests. The company bought a Toyota Hilux double cab recently for the business. My question is as follows: Is this company entitled to claim the instant asset write on …

Distributing Discounted Capital Gains to Trust Beneficiaries

Question I have several questions regarding how Capital Gains Tax would apply to a transfer of title of a residential property to one of my children. Background: In 1981, I purchased a residential property in Sydney and I was registered as the sole proprietor. From the date of purchase, my wife and I occupied the …

Questions about how a Trust Operates

Question Facts * I setup a Trust and Corporate Trustee for our family back in 2009 shortly after our first son was born. * My wife and I are the (only) two directors of the Corporate Trustee. * I’ve not had any updates made to the Trust Deed since. * We made two—highly speculative, illiquid—private …


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