ATO’s continuing focus on trust property developers In recent years, the ATO has focused on trusts developing and selling properties as part of their normal business. When these developed properties are sold, some trusts incorrectly claim a 50% CGT discount. Editor: See also TA 2014/1 – Trusts mischaracterising property development receipts as capital gains. As […]
Trusts’ compliance with anti-avoidance rules reviewed
Trusts’ compliance with anti-avoidance rules reviewed The ATO has announced that it is reviewing selected trusts’ compliance with sections 100AA and 100AB of the ITAA 1936. These anti-avoidance rules are designed to prevent trustees using tax-exempt entities to shelter the trust’s net income. Specifically, it is looking at situations where a tax exempt entity is […]
Our Bottrell Audit Services
Bottrell Accountants & Audits Bottrell Business Consultants have qualified accountants to help with all of your audit needs. We have extensive experience in managing and auditing trust accounts. Consequently we are able to offer you a streamlined service in a cost-effective manner with minimal disruptions to your office and your staff. Our audit team have […]
Changing your legal structure to a company or trust
Changing your legal structure to a company or trust Just because a business starts off being operated as a sole trader it does not mean it has to stay that way. As long as the decision to change the type of entity that owns the business is not made purely on income tax saving grounds, […]
