News & Insights

As a parent you are used to giving handouts to your children. From a couple of dollars to buy mixed lollies from the milk bar when they were young, to putting them through school, clothing and feeding them and even pocket money along the way. With any luck they may have washed your car or mowed the lawn for it?

The importance of having a will is often underestimated. Dying without a will creates added complexities at a difficult time for your family, and can result in your properties and assets (“the estate”) passing to beneficiaries in a manner not in accordance with your wishes.

On 25 January 2017, the ATO released Taxation Determination 2017/1 regarding the taxation treatment of intangible capital improvements that are affixed or made to pre-CGT assets.