Exploration Credits, Anyone?

The 2015 Financial Year saw the introduction of the Government’s Exploration Development Incentive (EDI). This is a targeted scheme designed to encourage investment in small exploration companies and thus stimulate activity in a much needed sector. Where a company elects to participate they can distribute a portion of their tax losses to shareholders as an exploration credit.  […]

New Withholding Payment Rules on Property Sales

From 1 July 2016, any buyers of Australian residential property which has a value of $2m or more will need to consider if they should withhold 10% of the sales price and pay it to the ATO. These rules were introduced to ensure that non-residents selling property in Australia paid the appropriate tax on any gain […]

Small Business Concessions – Valuations Guidance

The Small Business CGT concessions continue to be vexing. In a new decision of the AAT in Miley’s Case (Miley and Commissioner of Taxation [2016] AATA 73) we have received further insights into the concept of what is market value. In particular, the AAT held that the price paid by a third party was not the […]

Innovation Tax Incentives

The Government has now released a discussion paper in relation to tax incentives for early stage investors. These incentives are intended to encourage investors into Australian “innovation companies”. These are essentially companies which: Were incorporated in Australia within the last 3 years; Have assessable income of $200,000 or less in the prior income year; Had expenditure […]