Knowledge Shop Blog

March 2018 Top Tax & Accounting Q&As

Knowledge Shop Editor | 27/03/18 13:59

This months top tax & accounting Q&As live from the Knowledge Shop Help Desk: Are management fees for a salary sacrificing arrangement deductible? Changing the term of a Division 7A loan agreement Applying the rollover rules when restructuring from a sole trader to a company Consolidating franking accounts when companies consolidate Restrictions on applying the main residence exemption to the sale of a property
Accountants Q&As

Foreign Residents Excluded from Main Residence Exemption - legislation before Parliament

Michael Carruthers | 08/02/18 15:32

New legislation introduced into Parliament today will prevent foreign residents accessing the capital gains tax (CGT) exemption on a main residence. If the legislation is enacted, a taxpayer will not generally be able to claim any exemption under the main residence rules if they are a non-resident at the time of the CGT event, even if they were a resident for some (or even most) of the ownership period. No apportionment applies – the exemption simply doesn’t apply at all if the individual is a foreign resident when the CGT event is triggered.

Feb 2018 Tax Round Up - Profits inside professional services firms

Knowledge Shop Editor | 01/02/18 13:37

Profits of professional services firms guidelines suspended, recalcitrant employers targeted in SG integrity measures, and a shake-up for the effectiveness of trust distribution resolutions - all this and more in the tax round up. Members can download the full February 2018 Tax Round Up from the member-only website. To see what Knowledge Shop membership offers, call Julie on 1800 800 232 or take a tour online.  
Tax Round Up

Knowledge Shop acquires Taxbytes

Knowledge Shop Editor | 23/01/18 17:00

Knowledge Shop has acquired a majority interest in in-house training company Taxbytes. Taxbytes is a leading provider of in-house training to the accounting profession. The current managing director of the Taxbytes business, Jo-anne Hotston will continue to lead the business, providing the high level of training service that Taxbytes has built its reputation on. Jo-anne has an exceptional reputation within the profession and we’re excited to have her and Taxbytes as part of the Knowledge Shop family.

Top Tax & Accounting Q&As - travel allowances, director loans, and calculating CGT for a partial main residence

Knowledge Shop Editor | 20/12/17 13:41

This month's top tax & accounting Q&As live from the Knowledge Shop Help Desk: Does a truck driver need to keep receipts if the travel allowance is under the ATO’s rate? Treatment of director loans from a company with no distributable surplus Can you choose the method to calculate a partial exemption under the main residence rules? Prior year turnover levels and small business entities Can I offset PSI against trust losses?
Tax & Accounting, Q&As

What's your Christmas wish?

Lisa Armstrong | 15/12/17 09:56

From all of the Knowledge Shop team, we hope your Christmas wishes come true! To grant the incredible healing power of a wish this festive season to a kid facing a life threatening illness, please donate to Make A Wish Australia. We've raised over $1,000 so far, let's keep it coming!

Dec 2017 Tax Round Up - ATO backtracks on reasonable rates for travel allowances

Knowledge Shop Editor | 01/12/17 10:04

What do the substantiation exemption rules really require? A new determination on travel allowances provides some clarity. Plus, the incoming rules for GST on property developments, and the finalised housing integrity measure laws. Members can download the full December 2017 Tax Round Up from the member-only website. To see what Knowledge Shop membership offers, call Julie on 1800 800 232 or take a tour online.
Tax Round Up

Top Superannuation Q&As - property flipping inside an SMSF, recontributions and more

Knowledge Shop Editor | 27/11/17 12:18

This month's top superannuation Q&As live from the Knowledge Shop Help Desk: Property flipping and renovating inside an SMSF   Treatment of recontributions Tax treatment of contribution splitting for the receiving spouse Segregating a property asset between SMSF members When is an actuarial certificate necessary post 1 July 2017? The pooled approach and transitional CGT relief for pensions in excess of $1.6m The treatment of a SMSF in excess of the $1.6million Transfer balance cap.
Superannuation, Q&As, Accountants Q&As, Super, Superannuation Q&As


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