by Val Tse | May 31, 2018 | Income Tax
It is sometimes said that a superhero like the DC Comics character Superman can be an uninteresting character because he is, for all practical purposes, indestructible. Critics have said the knowledge that he will most likely win can make Superman’s adventures...
by Val Tse | May 4, 2018 | Testamentary Trusts
A testamentary trust works in tandem with a will, and is similar to a discretionary trust, with the major difference being it only takes effect upon the death of the person who made the will. The trust can be funded by some or by all of your assets, and by payments...
by Val Tse | May 4, 2018 | Small Business
How well do you know your business deductions? Try these questions to find out! QUESTION 1 A company’s financial accounts show the following information in relation to its bad debts and doubtful debts for the year: Closing balance for doubtful debts from the previous...
by Val Tse | May 4, 2018 | SMSF
Whether or not the trustee of a complying superannuation fund can accept member contributions for those aged between 65 and 75 depends on the member satisfying the “work test”. The work test requires a member to have been gainfully employed for at least 40 hours in a...
by Val Tse | May 4, 2018 | Small Business
An issue that sometimes arises for business owners is whether interest expenses incurred on borrowed funds used in a business remain deductible after the business’s income earning activities have ceased. As a general rule, in order for interest expenses to be...
