by Quinns Blog | Jul 24, 2019 | Blog
The NSW Parliament has passed legislation to change the timing of statutory deposits under the Legal Profession Uniform Law Application Regulation 2015. Prior to the changes, Law Practices were required to calculate on an annual basis the requirement to make a...
by Quinns Blog | Jul 24, 2019 | Blog
Under certain circumstances pre-1 July 2019, the ATO agreed that an interest deduction should be allowed for holding vacant land. Typically, the taxpayer’s argument was accepted where the interest was incurred on borrowed funds used to acquire a property that was...
by Quinns Blog | Jul 18, 2019 | Blog
Foreign resident capital gains withholding (FRCGW) applies to vendors disposing of certain taxable property under contracts entered into from 1 July 2016. The FRCGW tax rate is currently 12.5%. It applies to real property disposals where the contract price is $750,000...
by Quinns Blog | Jul 18, 2019 | Blog
The financial reporting thresholds for ‘large’ proprietary companies have increased effective from 1 July, 2019. For the 2020 financial year, a proprietary company will be considered ‘large’ if it meets at least two of the following criteria: The consolidated revenue...
by Quinns Blog | Jul 10, 2019 | Blog
In November 2018, Commonwealth Bank of Australia (CBA) chair Catherine Livingstone was in the dock at the Hayne Royal Commission with Rowena Orr, QC who quizzed her about the keeping of CBA’s minutes. One of the issues raised during the banking Royal Commission was...
