In the lead-up to 30 June 2023, you can avoid paying an extra tax of up to 47% of Trust profits by completing your Trust Distribution Resolutions before 30 June.
If a Trustee of a Trust fails to make a resolution to distribute the income of the Trust before the end of
the financial year, the Trustee may be assessed by the Australian Taxation Office (ATO) on the Trust income at the highest marginal tax
rate of 47%, rather than the intended beneficiaries being taxed at generally much lower tax rates.
The sooner we get started with preparing your 2023 Trust Distribution Resolutions, the sooner we can help you save tax - well before 30 June 2023 for sufficient time to implement tax saving strategies.
WEBINAR 11 SEPT // 12PM
The final session focuses on the changing legal environment, highlighting recent amendments to the Fair Work Act, capturing independent
contractors under workers' compensation schemes, payroll tax considerations, superannuation compliance, and practical steps to mitigate
risks.
WEBINAR 4 SEPT // 12PM
In the third session, we'll delve into superannuation guarantee changes, including proposed changes to payday superannuation, new rates and
bases, and the impact on SG liability. Gain insights into employer deductions, termination of employment considerations and more.
WEBINAR 28 AUG // 12PM
Master allowances and reimbursements, understand their PAYG and super guarantee implications, and learn to navigate travel vs.
living-away-from-home allowances. Gain insights into FBT considerations, new ATO record-keeping requirements, and effective salary packaging
arrangements.
Building on the findings from Xero Small Business Insights (XSBI) report, Small business productivity: Trends, implications and strategies, this special report presents industry and regional labour productivity data for small businesses.
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it.
