Superfund residency requirements are being relaxed. Under changes announced in the 2021-2022 Commonwealth budget, the ‘Active Member’ test is being abolished and the Central Management and Control safe harbour is being extended from 2 to 5 years. Great news if you live and work overseas but have an SMSF or...
The Small Business Restructure Roll Over
Small Business Restructure Relief - Adopt the right legal structure for your business without triggering a capital gains tax liability.
An Active Asset: Mr Eichmann and his block of land
The Gatekeeper to Small Business Capital Gains Concession Eligibility. An Active Asset is a key technical definition in the eligibility criteria for all small business capital gains tax concessions and must be an asset used in the course of carrying on a business. Eichmann v Commissioner of Taxation [2020] FCAF...
When supporting a family isn’t taxing enough…
Are you an Expat with a family who remain in Australia? Determining an individual’s tax residency under current Australian law where one spouse lives and works overseas while the other remains in Australia with family can be financially critical.