FasterTax with Ray Cummings of Greenoak Advisory

FasterTax with Ray Cummings of Greenoak Advisory

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FasterTax with Ray Cummings of Greenoak Advisory episodes

  • Company Loss Tests Top 3
    Most advisors can reel off the company loss tests as an ownership test and a same/similar business test. However, the depth of knowledge in these areas can be fairly limited particularly re:1.The operation of the continuity of ownership test2.Misunderstanding how the same/similar business tests operate and3.Not understanding the relevant test periods for these rules
    4 min
  • Unpaid present entitlements - Corporate beneficiaries Top 3
    Some of the key practical points are:1. Failing to distinguish between UPEs to corporate beneficiaries arising before 16 December 2009 and those arising on or after that date2. Potentially being too conservative and not distributing to corporate beneficiaries3. Forgetting or not realising that any loan by the trust where the UPE to the corporate beneficiary is outstanding, regardless of when it was created, can have deemed dividend consequences.
    4 min
  • Commercial Debt Forgiveness Top 3
    1.Can a loan write-off constitute taxable income?2.What happens if I clean up intra group loan balances?3.No interest,no problem? 
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    4 min
  • Jobkeeper for Non Employer businesses
    1. Is my business eligible to receive the payment?(a) Has or will the business likely experience the required turnover decline? (b) Has a person who is an “eligible business participant” ?
    2. How do I get it?
    3. How much do I get?
    4. When do I get it?
    5 min
  • Jobkeeper for Employers
    Ask the right questions:
    1. Is my business eligible to receive the payment?
        a) Has or will my business experience the requisite turnover decline?
        b) Do I have eligible employees?
    2. How do I get it?
    3. How much do I get?
    4. When do I get it?
    5. How much do I have to pay to my employees?
    7 min
  • Small Business CGT Rollover Top 3
    1. Do you have a business asset or assets?2. Is the transfer due to a genuine business restructure?3. Has the underlying economic ownership of the asset or assets remained the same both before and after the transfer?
    4 min

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