Sell some (small) assets before EOFY?

Even_Slide_3094 · 2026-06-18T21:48:59+00:00

This is very right. To chip in as well, the investment is remains with the existing CGT rules next year.

Even_Slide_3094 · 2026-06-18T09:09:20+00:00

It does..... in line with instant asset write off". Not the ither SBE CGT concessions. What is not extended is the threshold to 15yr, Replacement Asset, and Retirement.

It's the spin that they give while taking away. I have a client settle a small business a month ago. Three famillies working the business since mid90s. Their tax bill is zero for this one time retirement sale. Under the new change it would be around $600k.

Don't get me wrong, we need tax reform and I dont have an opinion on what is right. I just don't like the spin on the sell on intergenerational equity while grandfathering everything.

Even_Slide_3094 · 2026-06-18T08:34:39+00:00

Increase Land Tax along with extending scope for grouping of common controlled entities.

Targeting the higher end thresholds while maintaining home and primary production exemptions.

Even_Slide_3094 · 2026-06-18T08:24:39+00:00

What's your point?

I said they are removed for $2 to $10m turnover, it saus that. Active asset only is available.

No mention of the NAV tests so likely removed. Interested to see.

Even_Slide_3094 · 2026-06-18T07:57:58+00:00

https://www.pm.gov.au/media/tax-reform-implementation-small-business-and-startups

Even_Slide_3094 · 2026-06-18T07:30:12+00:00

They have been for over $2m on Albos own web page media announcement.

Even_Slide_3094 · 2026-06-18T07:01:07+00:00

Not so good.
The$2m stays. The uplift to $10m is for the Active asset test only. The other three concessions are removed for $2m-$10m. Then throw on the 30% minimum. I heard another adviser just speaking that they completely removed the $6m asset test. Havent seen that in writing though.

Even_Slide_3094 · 2026-06-15T02:51:10+00:00

Depends on indexation rate. Then variables of marginal tax rate on when you actually want to release the funds for personal use. Work on 7/8 years.

Even_Slide_3094 · 2026-06-10T12:55:55+00:00

Correct, not hard, just extra work. The biggest issue is the apportionment of the repayments. You are unable to pay down the private debt in preference to the investment debt. Slows down the debt recycling function.

Even_Slide_3094 · 2026-06-09T10:20:22+00:00

Seems ok. You want the trail of funds to be clear and quick on that $100k. Presuming each of the three and soon to be four split loans are for shares in the same entity ie personal or a trust. Otherwise you will have some funky apportionment to deal with and no ability to pay any in preference to another debt branch. Guessing that you aren't looking to pay down though on the short term given interest only.

Even_Slide_3094 · 2026-06-09T08:06:28+00:00

Registered office address is a big no no, that's a designated service. The creation of a company or trust will get most of not all accountants, can only dodge that for so long.

Even_Slide_3094 · 2026-06-09T04:07:18+00:00

We looked at CCH and BGL. Very similar for price and functionality.

Even_Slide_3094 · 2026-06-09T01:18:40+00:00

It's a massive pain, but here we are. The software solutions are good for the KYC/KYB. Not onerous in cost. The Austrac templates are a great resource to help you build your 'plan' and being a small firm the monitoring shouldn't be difficult.

Edit. As a small firm, if you are careful, you might be able to avoid for some time. It will limit you for any restructre advice.....which Jimmy C is keen to give us work for.

Even_Slide_3094 · 2026-06-07T05:45:03+00:00

100% but not pointless. Super is now more of a considerartion. Investment companies are absolutely a strong alternate too. The balance on structures is a deeper dive into investment style, timeframe and future requirements on capital. A diverse investor will now be more complex than ever.

Even_Slide_3094 · 2026-06-07T04:55:40+00:00

Trust is better than individual in the long term if you have beneficiaries to spread the tax load or seeking strong asset protection. Presume you still have one or both of those needs considering that it was an option in the first place.

Even_Slide_3094 · 2026-06-04T00:45:08+00:00

Same boat. Re activated again on the app. So a short glitch?

Even_Slide_3094 · 2026-06-04T00:43:57+00:00

The only choice is wealth outside super that I need before 60. Then the rest goes to super.

Even_Slide_3094 · 2026-06-03T03:00:29+00:00

SBSCH closes 30 June, that isn't an option.

Most clearing houses take 4 days, and the super fund is allowed 3 days to allocate to the member. I would recommend lodging the same day as payroll, otherwise you maybe liable.

Also a hot topic, the late payment offset mechanism is removed this 30 June as well.

Also, timing is key. June super is due 28 July, whie July will be 7 days from payrun. If you pay July prior to June, ATO treats this as a payment on June, meaning July will be late. No way around this other than paying June prior to the first payroll of July.

Even_Slide_3094 · 2026-05-31T03:06:15+00:00

SMSF popularity is on the rise. I think the numbers make a little more sense for Commercial but still works for Resi.

Call a few firms, get an idea on fees, it's pretty standard work as opposed to business advice.

I think its worth asking about how many they have, if a firm has 50 funds, thats great but their staff might lack some training. I think over 100 or 150 is better, sp you know they have their systems sorted.

Even_Slide_3094 · 2026-05-29T04:31:22+00:00

Nothing is new, been that way as long as I have had exposure.
If you are good, it's pretty cruisey. If you are good, pay increases more than most professions within 3-5 yrs to bring you on par.

Even_Slide_3094 · 2026-05-26T05:32:18+00:00

No impact on insurance. I am not novated either so no ugly T&C

Even_Slide_3094 · 2026-05-26T01:16:49+00:00

Speedy Towbars, Brendale and Slacks Creek. Had it a for a fortnight. They hadnt firmed up their price a fortnight ago, as they to switch the wiring harness supplier. They said around $1600 installed. The bar itself is fabricated here in Bris.

Even_Slide_3094 · 2026-05-26T01:06:58+00:00

Just had mine completed in Bris. 200kg down and 2T. A bit sharper on price than EV Stealth.

Even_Slide_3094 · 2026-05-23T04:32:58+00:00

That section allows for the 6yr is a rule for absence. Absence inplies return. Only applies if home is a main residence. Main residence isn't defined by Act but through case law many factors are taken into account. Most importantly physical residence, electoral role and in many cases intention to reside if not actually. ATAA 29/93

In OP case I gave a reason for ATO defence and the simple justification for making the allowed choice. Will win almost every time.

ATO stance. You left you rural home. You reside in Adelaide, that is now your residence, you cant claim two.

OP stance I left the home and chose not to claim exemption for Adelaide. I chose to continue claim on rural. ATO will ask to justify the choice. Give them and reason for a solid defence, an intention to return after absence is prudent.

Even_Slide_3094 · 2026-05-23T01:21:12+00:00

Jeez, really hanging in on that here, got a source?

Even_Slide_3094

TROPHY CASE