We close Saturday 22 December and open Thursday 3 January. Over the holiday break, halfway through the financial year, many business owners and investors review their positions. Now is a good time to read these articles and book a meeting in January with Electra for further planning advice.
Business partner agreements. A formal agreement can set the ground rules and prevent owners from turning on one another if things don’t go as well as planned. Whether it’s a partnership agreement, shareholder agreements’ or unitholders’ agreement – we explain what can go wrong if you don’t have one, and the steps for drafting your agreement.
The ATO’s use of “taxpayer alerts”. This is how the ATO warns taxpayers about emerging issues of concern in tax planning. We explain the implications of your affairs being the subject matter of one.
Investment tax issues. We run through the types of investment earnings that are ordinary income and those that are capital in nature; as well as losses, foreign tax issues, GST, substantiation and a few tax risk areas that you should be aware of when planning your investment portfolio.
Compensation for financial wrong-doings, such as has been uncovered by the Royal Commission, may still attract tax. If you’ve received inappropriate financial advice and are compensated for your losses, read this article before doing your tax return.