What is exempt income?Exempt income means any amount of ordinary income or statutory income that is not subject to taxation due to specific provisions in the Income Tax Assessment Acts (Acts) or...
Exempt Income
read more
Tax Articles
Contractor vs Employee
An employee is an individual who works under the supervision of an employer as a representative of their business receiving in return wages or other remuneration. While an employee might have some...
Employee Share Scheme
What is an employee share scheme?An employee share scheme (ESS) is a scheme under which shares, stapled securities or rights to acquire such shares or securities in a company (known as ESS...
Intellectual Property
What is intellectual property?Intellectual property IP encompasses a range of intangible assets and rights held by a taxpayer. This includes rights held by a taxpayer as the owner or licensor of...
Allocation of Professional Firm Profits
The distribution of profits made by professional firms to the controllers of a business and their associates may present tax complications. Professional firms here refers to professional practices...
Testamentary Trust
What is a testamentary trust?A testamentary trust is essentially a trust that is established through a person's last will and testament. Unlike discretionary or family trusts, which are typically...
Hire Purchase Agreement
What is a hire purchase agreement?A hire purchase agreement commonly refers to a contractual arrangement whereby a person or entity (the lessee) acquires from another person or entity (the lessor),...
Tax on Compensation
Compensation payoutsThere are many forms of compensation payouts which may be awarded to taxpayers. This can include compensation in relation to personal injury or illness, damage to reputation,...
Tax Consolidation
If your business is a company that owns 100% of another company, trust or partnership, tax consolidation is an option you should consider. A consolidated group generally consists of a head company...
