Welcome to our Autumn issue of Morrows Insight.
We hope you had a nice Easter break and are ready to embrace the rest of the financial year.
We hope you find this addition of Insight both interesting and informative.
Proposed withholding tax from 1 July 2016 if you purchase Australian property from non-resident – Click here
Late last year, the Government announced that from 1 July 2016, it would be proceeding with implementing a 10% non-final withholding tax for non-residents selling ‘taxable Australian property’ (largely, Australian real estate).
Is an SMSF for you? – Click here
The Self-Managed Superannuation Fund (SMSF) sector is the fastest growing of the superannuation industry and no longer merely the domain of millionaires. SMSFs are a very attractive retirement vehicle for many reasons including providing people more control and choice over their investment decisions and enhanced flexibility around tax and estate planning.
Estate Planning – More than meets the eye/ Leave a lasting legacy – Click here
The difference is significant with Morrows in that our legal department closely collaborates with the various other business disciplines. This multi-discipline approach is unique in the marketplace and facilitates specialised estate planning in the area of sophisticated family, business succession and estate planning advice, for high net worth individuals and/or individuals with complex situations.
10 tips for staying on the ATO’s good side – Click here
Morrows has a great deal of experience in dealing with the ATO. Here are some valuable pointers on how to stay on the straight and narrow with the Taxman.
How one of Australia’s top private businesses, Dennis Family Homes, got succession sorted – Click here
“Hope is not a strategy”, that’s the message from Adele Dennis, one of the family members behind the Dennis Family Corporation.
The Dennis Family Corporation develops residential communities in Victoria and south-east Queensland and currently constructs approximately 1000 homes a year in Victoria and New South Wales.
Staff Profile: Murray Wyatt – Click here
“Hope is not a strategy”, that’s the message from Adele Dennis, one of the family members behind the Dennis Family Corporation.
The Dennis Family Corporation develops residential communities in Victoria and south-east Queensland and currently constructs approximately 1000 homes a year in Victoria and New South Wales.
Thinking of Improving an Asset held under Limited Recourse Borrowings Arrangement? Think Again! – Click here
SMSFs have been entitled to borrow in limited circumstances since 2007 resulting in a significant increase in the SMSFs investing in a real estate. Many SMSFs have taken advantage of these rules and borrowed via Limited Recourse Borrowing Arrangements (LRBAs), investing particularly in older investment properties with an intention to ‘improve’ later.
ATO killed the YouTube star – Taxing your online income – Click here
Making YouTube videos has become a significant source of income for many Australians and – for some that are very successful at it – big business. Bloggers and digital savvy entrepreneurs are filming anything from downright stupidity to comedy and cooking. The Tax Office has caught onto this and wants its piece of the pie.