Category: Taxation

As the world grapples with the economic impact of the Coronavirus, the Australian Government yesterday announced their economic response to the threat, which we have summarised below. The government has also confirmed that the surplus it had planned to deliver is extremely unlikely to be achieved. With various reports of the mortality rate, it seems one of the most… Continue reading Coronavirus Stimulus Package

Victorian Employers need to be informed that as of the 1st November 2018 there will be significant changes to Long Service Leave (LSL) Entitlements. Employees Employees are now entitled to take Long Service Leave after 7 years of continuous service with one employer as opposed to 10 years. An employee is able to request Long Service… Continue reading Changes to the Long Service Leave Act

At RDV Business Solutions we aim to provide you with a quality tax return at a competitive price and our valued expertise of tax legislation will ensure that you maximise the tax benefits. We would like to give you notice to start arranging all your tax information as soon as possible in order for RDV… Continue reading It’s Tax Time

As some of you may already be aware, a major change to property depreciation legislation has been implemented. The federal government has passed through a new legislation which will place restrictions on claiming depreciation deductions for second-hand items in properties. Property investors that exchanged contracts to purchase a second-hand residential investment property after the 9th… Continue reading Changes to depreciation legislation for Australian Residential Property Investors

  The federal government budget will introduce a proposed change whereby the responsibility for remitting GST on the sale of new residential premises will shift from property developers to purchasers. As the law currently stands, developers collect GST from the purchasers as part of the buying price and then send it to the ATO. As… Continue reading Attention Property Developers!

In my time I have seen the wrong loan structure on numerous occasions. Some simple advice and strategy to think ahead could save you thousands. An ordinary home loan consists of an amount of money borrowed, typically over thirty years that you gradually pay back over time. If you have made extra repayments, most facilities… Continue reading Mortgage Offset Accounts

The temporary absence rule (Section 118-145) is not something you think about when you move out of our principal place of residence and commence using the property as a rental property. I have been seeing a lot more of it lately in practice so thought I would share, and hopefully it provides you with a… Continue reading How to Minimise CGT Implications on Former Main Residence

Once upon a time a standard house block was on average 500sqm to 700sqm of land. Some suburbs the average blocks are 700-900sqm plus. As has been the case for many years, the larger blocks have been subdivided into multi apartment or townhouse sites. Land is a rare commodity close in to the CBD and the maximum… Continue reading Sale of Backyard for Mum’s and Dad’s

Across a number of industries, the ATO continues to see contracting arrangements being misused by employers with the intention of avoiding employment overheads. The ATO will investigate employers that intentionally try to avoid their tax and superannuation obligations by improperly treating workers as contractors rather than employees. They will assist employers to understand and meet… Continue reading ATO Targets Contractor Arrangements