Tax

What You Need to Know About Tax Incentives for Early Stage Investors

tax-incentives-for-early-stage-investorsUnder the National Innovation and Science Agenda (NISA), the Australian Government is encouraging innovation by aligning business laws and our tax system with a culture of entrepreneurship and risk-taking. As a way of attracting investors to early stage innovation companies, from 1 July 2016 the Government has provided some attractive tax incentives for investors. Continue reading

Hot Topic, Tax

Ways To Trigger An ATO Audit

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The ATO makes it very clear that when it comes to their compliance programs, they are active with their review and audit practices. They also advise that data matching is a key component of their surveillance programs.

Tax compliance is more than just an annual income tax return. It is a key document that the ATO uses to interact with a business and who they select to be audited.

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SMSF

SMSF’s Beyond the Grave

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Succession planning of a self managed superannuation fund (SMSF) is inherently complicated. It is also one of the most important aspects of running your own SMSF.

When it comes to passing on your personal property, the concept of using a will is relatively well understood. When it comes to a will, there are rules that detail how a will is made and how it is signed. However, when it comes to the assets of a SMSF, you cannot make a will that effectively disposes of assets because these assets are not actually yours. They are owned by a trustee who holds the SMSF’s assets for the benefit of the members and their beneficiaries.

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