by David Maynard | Jul 1, 2021 | ATO, Australian Business Number, Australian Business Register, Australian Securities Investment Commission, Business Structures, Corporate, Starting a Business, Tax Savings |
From 1 July 2021, the new company tax rate in Australia is 25%. If you intend to start a business, a company may be the best business structure to start with. For some business start-ups, liability protection is important. However, the new company tax rate of 25% is a...
by David Maynard | Mar 4, 2021 | Business Structures, Corporate, Franking Credits, Imputation System, Starting a Business, Tax Savings, Trust |
A tax benefits of using a company as a business structure is Franking Credits. How do they work? When a company makes a profit, it pays tax at 27.5% (small companies tax rate). Company tax paid is recorded in the company’s “Franking” account. When...
by David Maynard | Feb 26, 2021 | Business Structures, Corporate, Starting a Business |
A recent determination by the ATO, TD 2021/2, confirms company Capital Gains Tax (CGT) concessions apply to “active” business assets only. Income from rental properties is defined as “passive.” Accordingly, “passive” rental assets...
by David Maynard | Nov 2, 2018 | Business Structures, Case Studies, Corporate, Trust, Trustee
TRUST WITH CORPORATE TRUSTEE CASE STUDY INCORPORATING A CORPORATE BENEFICIARY Steven is self-employed in the civil construction earth moving industry and he is operating as a sole trader…. Ask us a Question Steven is a Single Dad Steven is single and has one...
by David Maynard | Nov 1, 2018 | Business Structures, Case Studies, Corporate, Trust, Trustee
BUSINESS PARTNERS CASE STUDY THE PARTNERS ARE NON RELATED PARTIES Joe and Adam are plumbers who have both worked together on various construction sites…. Ask us a Question Long Term Friendship Joe and Adam have been building a great long term friendship over the...
by David Maynard | Oct 31, 2018 | Business Structures, Case Studies, Trust, Trustee
TRUST WITH INDIVIDUAL TRUSTEE CASE STUDY INDIVIDUAL TRUSTEE After receiving his trade certificate and gaining some valuable experience as a sub-contractor, Les decided to start his own plumbing business ….. Ask us a Question Les is a plumber Les seeks advice...
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