Division 7A: Honest Mistake or Inadvertent Omission?

Division 7A

Division 7A of the Income Tax Assessment Act 1997 ensures that loans and other forms of financial assistance made by private companies to their shareholders or associates are treated as dividends and taxed accordingly. This provision is designed to prevent private companies from avoiding tax by providing financial assistance to their shareholders in a way […]

Strata Renovation Work Approval

Strata Renovation Work

The Strata Schemes Management Act 2015 (NSW) and the Strata Schemes Management Regulation 2016 (NSW) requires owners of a property in a strata scheme (such as a town-house or an apartment) to obtain approval to carry out certain work to their property. Whether or not you are required to obtain approval for strata renovation work […]

What you should know about lease incentives

Lease incentives

Lease incentives are benefits offered by landlords to tenants to encourage them to sign or renew a lease. As landlords want to reduce their vacancy rates, lease incentives are commonly found in commercial, retail and industrial leases. They will be incorporated in the terms of the lease or an Incentive Deed. Lease incentives can take […]