The Government is currently considering removing the main residence exemption for taxpayers who are foreign residents when they sell their property. Many taxpayers who move overseas, rely on the 6 year absence to rule to sell their property which
Salary sacrificed super – info for Employers
Your employees can ‘sacrifice’ part of their wages into super contributions under an agreement with you. From 1 January 2020, salary sacrificed super contributions cannot be used to reduce your super guarantee obligations, regardless of the amount
Foreign income tax offsets on US capital gains
In a recent court decision, it was found that disposal of a CGT asset held by an Australian Resident Shareholder was not entitled to the full foreign income tax credit. In practical terms: Let’s assume an individual Australian tax payer owns
Disclosure of business tax debts
There is legislation currently before Parliament that proposes measures allowing the Tax Office to disclose the tax debt of a taxpayer to credit reporting bureaus. This legislation has been fiercely debated since 2013, but the Government has now
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