News & Views

What is a Discretionary Trust?

Many of Moore Australia’s clients have discretionary trusts. For some clients, understandably discretionary trusts can be hard to get their head around given they are largely driven by historical trust law and from a tax perspective, some complicated tax law.

Property and Taxes - unpleasant surprises

The Australian Taxation Office (ATO) state that "the most common capital gains tax (CGT) event happens when you sell or give away a CGT asset such as real estate, including your family home, holiday home, investment property, hobby farm or vacant block of land". Nearly all investors are aware of CGT in relation to investment properties, but the situation is different in relation to other properties, especially family homes.

2021 Queensland State Budget at a glance

Queensland Treasurer, Cameron Dick, delivered the state's 2020-21 budget yesterday, on the same day the borders opened to New South Wales and Victorian travellers.  Similar to budgets released by other states, the focus is on creating jobs, while also focussing on “rebounding from COVID-19 impacts” and celebrating the success of Queensland in response to the pandemic.

HomeBuilder program extended

On 29 November 2020, the Federal Government announced that the HomeBuilder program will be extended to 31 March 2021. The HomeBuilder program provides eligible owner-occupiers a grant to build a new home or substantially renovate an existing home.

The JobMaker Scheme

The Economic Recovery Package (JobMaker Hiring Credit) Amendment Bill 2020 received Royal Assent on 13 November 2020. Final Rules governing JobMaker will be released after public consultation, therefore the information provided in this document is based on the draft rules.
 
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