Buying a new home before selling the old one: The ins and outs
Sometimes an individual or couple decide to buy a new home before selling their existing one. In such cases, a concession exists that allows
for both houses to be treated as a main residence for up to six months – but only if certain conditions are met.
If you are an employer registered for goods and services tax (GST), you may be entitled to claim GST credits for payments you make to
reimburse employees (including company directors) or partners in a partnership for certain work-related expenses.
There has been an increase in the number of SMSFs entering into arrangements where real property is purchased and developed to subsequently
be sold or rented out. Such investments can help the fund build up its wealth more quickly than other forms, and from a tax standpoint, any
rent or eventual capital gain may enjoy concessional tax treatment.
Many businesses and organisations offer their customers loyalty award-based incentive programs. They are designed to reward customers for
purchasing or using a company’s goods and services (or sometimes affiliated businesses).
The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset rests with the trustee.
The beneficiaries benefit from the income that flows from the assets.