Foreign Investment Review Board (FIRB) Approval

Do you hold a foreign country passport and are you planning to invest in Australia? Approvals by Foreign Investment Review Board (FIRB) may be required prior to finalising your investment decision. Purchasing residential real estate Under Australia’s foreign...

Overtime Meal Allowance & Deduction for Meal Expenses

The Administrative Appeals Tribunal (‘AAT’) has in Mitchell v FCT held that a taxpayer was not eligible to deduct meal expenses in excess of his overtime meal allowance. Facts The taxpayer was an employee site surveyor who was employed under an enterprise bargaining...

Property Investment – Buy, Sell or Hold

The Australian property market has declined in value by 2.2% over the past twelve months. Maybe this poses a buying opportunity for some or a selling necessity for others. The table below illustrates the change in property values over the past twelve months by capital...

Getting married? You should update your will…

A will should be a true reflection of a person’s final wishes in relation to how their estate is distributed. Naturally, our wishes in relation to this are likely to change as our lives and circumstances change. Births, deaths, the purchasing of property, the...

Penalty rate changes for retail staff

The Fair Work Commission (FWC) has increased casual retail workers’ penalty rates for weekday evening shifts and Saturdays, but reduced them for Sunday shifts. The new penalty rate changes will be phased in over the next three to five years for the retail industry....