wen wen accountant Archives - Page 3 of 19 - W Wen & Co | Chartered Accountants & Business Advisors

Qualifying as an interdependent or financial dependant

When dealing with death benefit nominations, a question often gets asked is whether a person will qualify under the interdependency or financial dependency definitions. This is an important consideration as meeting the dependency criteria will enable potential beneficiaries to qualify as dependant and therefore allow them to receive a death benefit. Interdependency relationship Put, an […]

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Who Is a Resident For Tax Purposes?

A person’s residency for tax purposes can be one of the most difficult issues to determine in Australian tax law. And it is not just a question of whether a person is a “citizen” of Australia. Residency for Tax Purposes in Australia Moreover, it is highly relevant from a tax point of view, as a

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Property Developers – And Would Be Ones – Beware!

Federal Court Decision Offers Insight for Property Developers For property developers – or would-be property developers – a recent decision of the Federal Court may be of interest In Makrylos v FCT [2023] FCA 971, land acquired by a property developer was treated as trading stock from the date of its original acquisition, and not

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Small business skills and training boost

Looking to boost your employees’ skills and your tax deductions at the same time? Then keep reading to see if you could be eligible for the small business skills and training boost! If you run a small or medium business and are planning on investing in, or recently invested in, training your employees, taking care

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How to reduce your income tax bill using superannuation

Did you know you can reduce your income tax by making a large personal tax-deductible contribution from your take-home pay to your super? This strategy may be particularly useful if you will be earning more income this financial year or if you have sold an asset this year and made a large capital gain. What

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Avoid schemes targeting SMSFs

Sometimes promoters of schemes target self-managed super funds (SMSFs). Schemes can include tax avoidance arrangements that inappropriately channel money or assets into your SMSF so you pay less tax. They may also include arrangements promoting the illegal early release of benefits from your fund for personal use. To assist you with identifying schemes that may

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