MC Tax Advisors

March 27, 2018

Published by MC Tax Advisors at March 27, 2018

Categories

Airbnb

Airbnb – the tax consequences of renting out your home

Renting out all or part of your home via Airbnb brings in extra cash, however users may be caught unaware of the tax implications. In this article, we outline the tax consequences of using the Airbnb or similar platforms to rent out your place of residence. CGT Implications Main Residence Exemption The sale of a person’s main residence is generally […]

March 8, 2018

Published by MC Tax Advisors at March 8, 2018

Categories

Tax Bulletin

Tax Bulletin – March 2018

It has been a busy start to the year. The Government has legislated a number of 2017/18 Budget Announcements, and the ATO have been publicly identifying issues of concern. Our March Tax Bulletin outlines current issues that may be relevant to you and/or your clients. Main Residence CGT Exemption – Non-Residents The main residence exemption for non-resident individuals has been […]

February 11, 2018

Published by MC Tax Advisors at February 11, 2018

Categories

Small Business CGT Concessions

Selling shares or units – the small business CGT concessions just got a whole lot more complex!

In the 2017/18 Budget the Government announced changes to the Small Business CGT Concessions and stated they would introduce an integrity rule to “prevent taxpayers from accessing these concessions for assets which are unrelated to their small business, such as by arranging their affairs so that their ownership interests in larger businesses do not count towards the tests for determining […]

February 9, 2018

Published by MC Tax Advisors at February 9, 2018

Categories

Small Business CGT Concessions

Government release Exposure Draft on changes to Small Business CGT Concessions

The Government has released the much anticipated Exposure Draft on changes to the Small Business CGT Concessions. These changes put into effect the 2017-18 Budget Announcements, and apply to CGT Events occurring on or after 1 July 2017. The Exposure Draft is extremely complex, and extends well beyond the scope of what many practitioners would have anticipated. Read MC Tax […]