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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 …
Question I am an Australian citizen living in India Bangalore for the last 5 years for family reasons. I am 64 years old and ceased full time employment in July 2016. I bought a house on 29/4/2004 for $215000 as an investment property and rented it out and it was rented out throughout till I …
Question My questions relate to Super death benefits taxes, transfer costs, and deceased estates. My father has an SMSF, for our purposes he is the only Member. He and I are the Trustees. I will be the executor of his estate. You can assume: The SMSF has large amounts of cash and shares, but the …
Question I need your help to check whether I have included P&E items correctly in my CGT calculation. ATO is talking about balancing act. I want to legally reduce my capital gains. Many thanks Purchase Details: Purchase cost of CGT asset $429,900.00 Add: Incidental costs to acquire the CGT asset $5,973.75 Less: Plant & Equipment …
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 …
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 …
Question Subdivide PPR, Build on New block…eventually selling New PPR & CGT. 1) 2015- Purchased PPR for $600k 2) 2020- Subdivided PPR (Old PPR worth about $850k, Vacant Block approx $450k). 3) 2021- Commence Build new PPR on Subdivided Block, at cost of $250k. 4) 2022- Sell Front/Original PPR (CGT Free), move into completed New …
Question I purchased a property in Melbourne in 2015, for $600k, due to its large backyard and proximity to schools, transport etc. The house was in very poor condition, with other similar houses selling for closer to $450k at the time. We moved in asap after settlement. We have made renovations and small extension to …
Question Hi, in October 2014 I bought an investment propoerty in Townsville just in my name for tax purposes as I was the higher income earner. This was rented out from purchase until February 2018. My wife and I then moved into the property and it became our principal place of residence. From when we …
Question I bought a house in Sydney with my then husband in June 1997 for $265,000 and lived in it with him until our separation in 2008. I retained the house in the divorce and transferred it into my name as part of the settlement in 2009 (this was not considered a sale). It was …
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