From trust to company

From trust to company

In this issue of Public Accountant, the focus is on the future. In the previous issue, | foreshadowed a further look at each of the tools available in a restructure from a trust to a company. With company tax rates expected to come down in the years ahead, the demand...
What goes up must come down

What goes up must come down

For many firms, prices rose when the carbon tax was introduced in 2012. With the tax gone, businesses should remove any carbon component from their prices and pass on any savings. The Australian Competition and Consumer Commission (ACCC) has been given extra powers to...
Changes to contract revenue

Changes to contract revenue

IFRS 15 Revenue from Contracts Customers has been released by the International Accounting Standards Board and its release by the Australian Accounting Standards Board (AASB) is expected by the end of 2014. Now that we can see the standard in its entirety, will it...
Taxing effects of breaking up

Taxing effects of breaking up

The tax implications of marriage break-ups can be far-reaching. Many practitioners are faced with helping clients through this difficult time, making TR 2014/5 important. Taxation Ruling TR 2014/5 Previously released in draft form (TR 2013/D6), the new ruling confirms...