PODCAST: Main Residence Exemption for Foreign Residents Insights by Andrew Henshaw The main residence exemption for foreign residents used to be easy. Once you got it, you didn’t lose it for at last 6 years – and even indefinitely as long as you didn’t rent it out....

PODCAST: Main Residence Exemption Upon Divorce or Death Insights by Andrew Henshaw The main residence exemption upon divorce or death can get tricky. How exactly does the exemption apply when owners divorce or die? Click the link below to listen in.Insight...

PODCAST: AirBnB triggers CGT Insights by Andrew Henshaw How does renting your home on AirBnB affect the CGT Main Residence exemption? Click the link below to listen in.Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s Sydney practice. If you are...

NSW Discretionary Trusts: Still time to act to avoid retrospective additional duty and land tax surcharges Insights by Andrew HenshawNSW Discretionary Trusts: Still time to act to avoid retrospective additional duty and land tax surcharges On 22 October 2019, the New...

PODCAST: Tax Talks - Tax Effective Structuring Insights by Andrew Henshaw In this episode of Tax Talks, Andrew Henshaw discusses the key tax issues to consider when considering structuring investments and business affairs. Click the link below to listen in. Insight...

PODCAST: Tax Talks - Related Party LRBA Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw discusses how a Limited Recourse Borrowing Arrangement can be put in place between a Self Managed Superannuation Fund, and a related party. Click the link...

PODCAST: Tax Talks - SMSF Buys Property Jointly Insights by Andrew Henshaw In this episode of Tax Talks, Andrew Henshaw discusses the potential traps associated with a Self Managed Superannuation Fund buying property jointly. Click the link below to listen in. Insight...

PODCAST: Small Business CGT Concessions for Big Business Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw discusses how the Small Business CGT Concessions can sometimes not to ‘not so small business’. Click the link below to listen in. Insight...

PODCAST: The 2019 Harding Case Insights by Andrew HenshawThe 2019 Harding case received a lot of media attention. And put the spot light onto our highly contentious tax residency rules for individuals – again. In this episode of Tax Talks, Andrew Henshaw discusses the...

PODCAST: Tax Talk - Div 7A Reform Insights by Andrew HenshawWhat will the upcoming Division 7A reform look like? Andrew Henshaw discusses on this episode of Tax Talks. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity...

PODCAST: Tax Talk - Listeners Div 7A Questions Insights by Andrew HenshawIn this episode of Tax Talks, Andrew Henshaw answers three Division 7A listener questions. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity...

PODCAST: When does a UPE become a Division 7A Issue? Insights by Andrew HenshawWhen does a UPE become a Division 7A Issue? Andrew Henshaw explains on Tax Talks. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s...

PODCAST: ATO Disputes - How to avoid or manage them Insights by Andrew Henshaw Andrew Henshaw shares with Tax Talks some of his experiences as a tax lawyer. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s...

PODCAST: Dealing with the ATO in a tax dispute Insights by Andrew HenshawAndrew Henshaw shares with Tax Talks some of his experiences as a tax lawyer. Click the link below to listen in. Insight Authors...ANDREW HENSHAW Director Andrew leads Velocity Legal’s Sydney...

BREAKING: STAMP DUTY TO APPLY TO DEVELOPMENT AGREEMENTS IN VICTORIA By Andrew Henshaw The Victorian Government handed down their 2019-20 Budget on Monday 27 May. Under the Budget, various changes to certain state taxes were announced (including duty, land tax and...

Contractor or Employee: What’s the Risk? Insights by Andrew Henshaw We often see employers misunderstand the distinction between independent contractor and employee. This can be a very costly mistake. In this article we discuss: the difference between an employee and...

Casenote: Tenant's Ability to Terminate a Lease Insights by Andrew Henshaw Struggling with a landlord? You may be able to terminate the lease Heavily entrenched in our legal system is the idea that if a party is not complying with its obligations under a contract, the...

Harding case on appeal — taxpayer wins, scope of 'permanent place of abode' concept widened Insights by Andrew Henshaw A taxpayer with an Australian 'domicile' is a resident of Australia for tax purposes, unless the Commissioner is satisfied that they have a...

Business Succession: Transitioning to the next generation By Andrew Henshaw Transitioning Family Businesses Statistics demonstrate that family owned businesses are the lifeblood of Australia’s economy. For example: around 70% of Australian businesses are ‘family...

What’s in store for tax in 2019? Key tax issues business owners need to watch out for Insights by Andrew Henshaw What’s in store for tax in 2019? Plenty! The upcoming Federal election is already looming as an important one for business owners in light of the possible...

Co-Owned Businesses Insights by Andrew Henshaw Co-Owned Businesses: Why you need a business ‘pre-nup’ …. and what to do if you don’t have one. Sport and business have many similarities. A championship winning sports team generally wins because the team runs like a...

Can a transfer to a ‘bare trust’ be subject to transfer duty? The devil is in the detail! Insights by Andrew HenshawThe recent Victorian Supreme Court case of MD Commercial Pty Ltd and AJ Commercial Pty Ltd vs Commissioner of State Revenue [2018] VSC 560 highlights...

TAX RESIDENCY – COMMISSIONER WINS BIG IN RECENT EXPAT CASE By Andrew HenshawThere are many Australian citizens and permanent residents who leave Australia to work overseas (Expats). Expats will often consider they are not a resident of Australia for tax purposes (i.e....

CGT MARRIAGE BREAKDOWN ROLL-OVER: THE SANDINI CASE REVISTED By Andrew HenshawCGT MARRIAGE BREAKDOWN ROLL-OVER: THE SANDINI CASE REVISTED A recent case before the Full Federal Court has tested the limits of the CGT marriage breakdown rollover relief. In Ellison &...

significant changes when selling shares or units.

‘PLUS’ GST CASE – COURT OF APPEAL MUDDIES THE WATERS By Andrew Henshaw, Director, Velocity LegalThe Victorian Court of Appeal has reversed a Supreme Court decision on whether the purchase price in a sale of land contract was GST-inclusive or GST-exclusive. The Court...

THE EMPIRE STRIKES BACK: THE NEW GST WITHHOLDING REGIME By Andrew Henshaw, Director, Velocity LegalOrdinarily, vendors pay GST on the value of the taxable supplies that they make. Vendors will sell goods or services for a price that includes a GST component. When it...

WORKING OFFSHORE? TRANSFERRING MONEY TO AUSTRALIA? BEWARE OF AUSTRAC & THE ATO! By Andrew Henshaw, Director, Velocity LegalAustralia is a big, isolated island. Despite our isolation, Australians are very well travelled. For some Australians, travel leads to living...

SEVEN REASONS WHY LABOR’S DISCRETIONARY TRUST PROPOSAL IS FUNDAMENTALLY FLAWED By Andrew Henshaw, Director, Velocity LegalOn 30 July 2017, the Labor party announced that, if elected, a Labor Government would introduce a standard minimum 30 per cent tax rate for...

THE NEW 27.5% CORPORATE TAX RATE: HOW DO I GET IT? By Andrew Henshaw, Director, Velocity LegalOn 1 July 2017, the new 27.5% corporate tax rate took effect. Many companies that are ‘small businesses’ will qualify for the new tax rate. Companies that do not meet the...

DID THE SANDINI CASE REALLY EXTEND THE BOUNDARIES OF THE CGT MARRIAGE BREAKDOWN ROLLOVER? NO! By Andrew Henshaw, Director, Velocity LegalThe breakdown of a marriage can have a high emotional and financial cost. Often, a spouse will have to transfer some of their...

SPECIAL CONTRIBUTIONS TO SUPERANNUATION: ATO U-TURN: EXTREME CAUTION REQUIRED By Andrew Henshaw, Director, Velocity LegalFrom 1 July 2017, drastic changes to superannuation take effect. Under those changes, the amount of money that a person can put into super (i.e....

FOREIGN PROPERTY INVESTORS STUNG: SPECIAL BUDGET UPDATE By Andrew Henshaw, Director, Velocity LegalIn my most recent edition of Life, Death and Taxes, I talked about some of the tax and duty changes targeting foreign property investors over the last five years....

Property investment in Australia has boomed in recent years.

The small business CGT concessions are some of the most significant tax…

Over your lifetime, you may have accumulated significant assets in your personal name.

Five tax issues that small businesses and their owners should pay close attention to.

A look at one big difference between the Australian and US tax systems.

The importance of completing contracts correctly.

When it comes to tax disputes, the proof is in the pudding.

The Coalition Government announced further changes to superannuation.

The ATO has recently released a consultation paper regarding penalties for small business and individuals.

Whether or not a person is tax resident of Australia is critical issue.