by Ben Smith | Feb 9, 2018 | Accounting & Audit, Tax & Estate Planning
From 1 January 2018 eligible small business entities are exempt from stamp duty on certain types of insurances in NSW. The exemption applies to the following types of business insurance: commercial vehicle insurance; commercial aviation insurance; occupational...
by Ben Smith | Nov 1, 2017 | Tax & Estate Planning
Keith and Nicole are both divorced and have children from previous marriages. Nicole’s children, Connor and Isabella, come to live with Keith and Nicole after they get married. After a near miss during a special effects mishap for his latest film clip, Keith decides...
by Ben Smith | Nov 1, 2017 | Tax & Estate Planning
Careful estate planning is essential in securing the ongoing viability of primary production businesses from one generation to the next. In recognition of this, the NSW Rural Assistance Authority (RAA) is currently providing funding for farming families to receive...
by Ben Smith | May 4, 2017 | Tax & Estate Planning
On 4 April 2017, legislation was passed to broaden the application of the exemption for transfers of farm land. The two key changes result in the exemption applying to transfers of primary production land in the following scenarios: 1. Where the transferor is a SMSF...
by Ben Smith | Nov 11, 2016 | Tax & Estate Planning
On 9 November 2016, the Government introduced legislation to implement its 2016-17 Budget superannuation reforms. The package of superannuation bills has been referred to the Senate Economics Legislation Committee for report by 14 February 2017. One of the bills...
by Ben Smith | Sep 30, 2016 | Tax & Estate Planning
The new Foreign Resident Capital Gains Withholding (FRCGW) regime commenced on 1 July 2016 and imposes withholding obligations on purchasers of certain assets which are classified as Taxable Australian Property (TAP). TAP includes direct interests in land, leases and...
