Super hot spot

Super hot spot

Which assets are included? Superannuation laws specify lists the following assets: artwork; jewellery; antiques; artefacts; coins, medallions or bank notes; postage stamps or first day covers; memorabilia; wine or spirits; motor vehicles; recreational boats and...

The results test: it’s business, not personal

DP Co has two employees, Mr Silk and his wife, Mrs Silk. The majority of DP Co’s work comes from one company, which contracts him to provide IT maintenance services on a yearly basis. DP Co is paid a fixed fee every six months. The contract states that the work done...
Tax Q&A – Apr/May 2012

Tax Q&A – Apr/May 2012

The general principle is that foreign currency gains and losses have a revenue character, subject to limited exceptions (s 775-15 & 775-30). Forex realisation gain or loss will depend on whether the amount that the taxpayer receives in respect of the withdrawal...

Beating the budgeting blues

Newer approaches to budgeting, based primarily on forecasting and accurately measuring performance, are becoming as important as the budget – if not more so. “There is a great deal of inertia in the corporate world surrounding the budget process,” says Greg Pazmandy,...