If your subcontractors are not contracted properly and you suffer an ATO audit - you can find yourself having to remit PAYG and Super Guarantee for the period of the contract - back assessed for 5 years and penalties!! Read how to prevent this...
We have seen a lot of traps investors have fallen into wih when dealing with property investments in their SMSF. This fact sheet is a good start to help you avoid the most common pitfalls.
If you treat a transaction as a going concern and do not remit GST on the sale and it does not meet the required criteria for a going concern sale, it may be the case that you are later required to remit the GST, together with any penalties and interest from the transaction.
You can get value for money legal services - and its very costly to DIY legal obviously... JUST ASK US FOR AN UP FRONT FEE QUOTE
Care must be taken so that the ATO does not deem these loans to be dividends, and tax them accordingly, with the total loan amount being deemed a dividend and added to the assessable income of the recipient.
How much of your super goes to the tax man when you die? Often when a person dies a large proportion of their super is liable for taxation, resulting in up to 30% of their super capital value being lost in tax.