Bottrell Accountants, Financial Planners & Tax Agents

East Maitland Accountants & Financial Advisors, Newcastle Accountants & Financial Advisors

CGT Rollover relief for changes to entity structure

CGT Rollover relief for changes to entity structure On 8 March 2016, the Tax Laws Amendment (Small Business Restructure Rollover) Act 2016 received royal assent. This roll-over was announced in the 2015-16 budget as part of the Growing Jobs and Small Business package. Broadly, this Act : provides greater flexibility for small business owners to […]

Employee share scheme changes

Employee share scheme changes The ATO has announced via an article on its website that, from 1 July 2015, there are new rules for the tax treatment of employee share schemes, including tax concessions for start-up companies. The employee share scheme changes allow employees to now own up to 10% of shares in their employer […]

Telstra 2014 share buy-back

Telstra 2014 share buy-back Clients who participated in the October 2014 Telstra off-market share buy-back will need to take that into account when lodging their 2014/15 income tax return. Taxpayers received a payment of $4.60 per share that they sold, which consisted of: a fully franked dividend of $2.27 per share; and a capital component […]

CGT: Keep the right records

CGT: Keep the right records The ATO has reminded taxpayers that they should keep all records of purchases or acquisitions of assets that may be subject to CGT, and records relating to their sale or disposal. Records should show: the nature of the act, transaction, event or circumstance; how it resulted in a capital gain […]