Tax Strategies

This strategy involves transferring the life interest in business real property into a SMSF (instead of transferring the whole interest in the real property). 

This strategy enables business owners to utilize the value of their business goodwill to pay out their private mortgage and convert a non-deductible mortgage into tax deductible debt.

Small businesses buying art prior to 30th June 2017 with a purchase cost of less than $20,000 (excluding GST) are entitled to a full tax deduction. 

The superannuation proceeds trust strategy involves creating a special type of testamentary trust under a will that is only funded by the deceased’s superannuation death benefits.

From 1st July 2018 fund members with a fund balance of less than $500,000 will be able to make additional catch-up super contributions.

Subscriptions, joining fees, levies and contributions paid to professional associations may be deductible under s 8-1 and/or s 25-55.

A holding company is a parent corporation that owns enough voting shares in another company to control its policies and management.

A Child Maintenance Trust (CMT) is a special type of trust set up and established with income earning assets (typically shares or property) to provide support for a child (or children).

A franking account records the amount of tax paid that a franking entity (company or public trading trust)can pass on to its members as a franking credit.

Becoming a non-resident of Australia for tax purposes has the following advantages.