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 | ATO, Australian Taxation Office, Corporate, Starting a Business, Tax Savings |
The new Loss Back provisions for companies commences with lodgment of 2021 tax return. The Loss Back provisions allows a company to offset a current year loss against a previous year profit, generating a refundable tax offset for the current year for tax paid in 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 19, 2018 | Corporate, Starting a Business |
When thinking about how to register a Pty Ltd company, proprietary (Pty) means privately held and Limited (Ltd) indicated a limitation to liability of the shareholder(s). So a Pty Ltd company is a privately held company which is limited by shares. Pty Ltd companies...
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...
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