Where to next?
This is what we’re asked by many people and the reason why our clients chose Hayes Knight.
Our clients know we are good at the fundamentals – accounting, tax compliance, and audit – but they come to us because not only are we good at the fundamentals, we have the expertise to help them identify, structure, and secure, their future … their next step.
Bad Deeds: Is your SMSF at risk?
Your SMSF’s trust deed is its rulebook. If the deed does not allow or recognise something, then the trustees can’t do it.
Despite this, a lot of trustees are unaware of what their trust deed says – it was just something that was required when the fund was established.
The problem with any document is that unless you amend it, it is only current for the circumstances that existed at that time. However, the law changes regularly and so do individual circumstances.
In this article, we shortcut the review process and highlight the key SMSF trust deed problem areas… MORE
Capital gains TAX & property: The top 3 Q&A’s
The thought of the Australian Tax Office (ATO) sharing up to 50% of any gain you make on an investment decision is enough to strike fear into the hearts of most people.
Given Australia’s love affair with property, it is little wonder that we are often asked about the impact of capital gains tax (CGT) on property. This month, we explore the most frequently asked questions.
In general, CGT applies to any change of ownership of a CGT asset, unless the asset was acquired before 20 September 1985 when the CGT rules first came into effect.
Most questions about CGT on property are based on the main residence exemption that exempts your home (your main residence) from any CGT exposure when you sell the property… MORE