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News
Selling homes online could be cheaper as REA signs ACCC deal
12+ hour, 38+ min ago (113+ words) AFR Australians selling their homes on realestate.com.au could save hundreds or thousands of dollars after the competition watchdog forced $20 billion property giant REA Group to rewrite its contracts with real estate agents to remove clauses locking them into…...
Treasury appoints new tax boss to steer budget changes
20+ hour, 59+ min ago (67+ words) AFR Treasury has appointed deputy secretary Katrina Di Marco as its new tax boss, as Jim Chalmers tries to iron out changes to capital gains tax and trusts announced in the May federal budget. Di Marco will succeed outgoing deputy…...
Equity Trustees broke its own rules on problematic First Guardian fund
4+ day, 9+ hour ago (92+ words) AFR ASX-listed Equity Trustees incorrectly categorised the First Guardian scheme, leading the firm to make it available for investment on its wealth management platform, without board approval, and in breach of its rules for managed funds with high exposure to…...
No ‘windfall gain’ from trust tax changes: Mookhey
4+ day, 11+ hour ago (95+ words) AFR NSW Treasurer Daniel Mookhey says the state’s revenue office is examining whether trusts will be exempt from stamp duty after federal tax changes announced by federal Treasurer Jim Chalmers, but he reassured small businesses he is not looking to…...
Serge Golman: Federal Court freezes $23.7 million in assets belonging to Sydney construction manager over unpaid taxes
5+ day, 19+ hour ago (90+ words) Construction boss has $24m in assets frozen in chase for unpaid taxes AFR A Sydney eastern suburbs man managing a major construction subcontractor engaged on government jobs has had tens of millions of dollars of assets frozen over allegedly unpaid taxes....
New digital taxes and algorithm laws could spark Australian trade dispute with the Trump administration
5+ day, 22+ hour ago (122+ words) White House, lobbyists warn Albanese on tech crackdown afr.com Washington | A powerful American software lobby group has urged Australia to overturn its newest tax hit on digital giants, warning it may turn off foreign investors, as the Albanese government’s…...
Former Sequoia chief hit with decade-long ban over $1b collapse
6+ day, 14+ hour ago (95+ words) afr.com The corporate regulator has banned former Sequoia Financial managing director Garry Crole from the financial services sector for 10 years due to the firm’s role in the $1 billion failure of the Shield and First Guardian funds. Crole had led…...
Have the CGT changes ruined my plans to sell assets in retirement?
6+ day, 19+ hour ago (65+ words) AFR Even before the budget’s changes, retirement did not make a large capital gain tax-free. A: The changes have not scuppered your retirement plans, says David Simon, principal adviser at Integral Private Wealth. You can still sell investments after retiring…...
Trusts might not escape stamp duty hit
1+ week, 7+ hour ago (95+ words) afr.com Queensland Treasurer David Janetzki has called on Jim Chalmers to explain his assurance that businesses will no longer have to restructure and pay big state stamp duty bills, as tax lawyers warn some could still face a hit…...
Tax changes cast a shadow over Labor’s housing target
1+ week, 8+ hour ago (107+ words) afr.com The perception is that the government underestimated the impact of its disruption of the housing market. The Australian Financial Review Property Summit’s day one agenda was supposed to focus on the outlook for commercial property, which it did…...