Welcome to the PT Partners Blog

Category Archive - Personal Tax

Buying or Selling Property? Beware of the Capital Gains Tax Withholding Rules

written by:
Darren Hagarty


If you are buying or selling real estate situated in Australia for $750,000 or more, it is important to be aware of the the Capital Gains Tax Withholding rules. With effect from 1 July 2017, for any real estate transactions of $750,000 or above, the vendor must provide to the purchaser, prior to settlement, a  “clearance certificate” obtained from the ATO. Without this, the purchaser is required to withhold 12.5% of the…

Read more Leave a comment

Time to Make Trust Resolutions

written by:
Darren Hagarty


Discretionary Trusts (sometimes referred to as Family Trusts) are a popular structure used by many of our clients. An important annual task when operating a discretionary trust is to prepare a Trustee Resolution to describe the manner in which the net income of the trust will be distributed to beneficiaries. To be effective for income tax purposes, the Australian Taxation Office (ATO) require that resolutions be made by 30 June…

Read more Leave a comment

Superannuation Changes – Is It Time to Act?

written by:
Kellie Powell


The Government’s superannuation changes take effect from 1 July 2017 and represent the biggest shake-up to the superannuation system in the past 10 years. The changes mean there is a last chance opportunity to act before 30 June 2017 to maximise superannuation contributions before the new legislation takes effect. Following we take a look at the changes to the super contributions caps that may impact you. NO MORE NON-CONCESSIONAL CONTRIBUTIONS…

Read more Leave a comment

Federal Budget 2017 – What You Need To Know

written by:
Josh McMullen


The 2017 Federal Budget was handed down on Tuesday 9 May. Following is a brief summary of some of the headline measures. If you have any question on how these measures may impact you or your business, contact your PT Partners Advisor on (07) 3808 4499. SMALL BUSINESS Instant Asset Write-Off – The $20,000 instant asset write-off will be extended by 12 months to 30 June 2018, for businesses with an aggregated…

Read more Leave a comment

Superannuation Changes Announced

written by:
Kellie Powell


Since the Federal Budget on 3 May 2016, many superannuation strategies have carried a significant element of uncertainty. As you may have heard, the Government has announced some significant changes to the superannuation proposals previously announced on Budget night. It’s important to be aware that we still don’t have any legislation released on these measures, which is essential in determining how the new measures will truly operate.  The Government has…

Read more Leave a comment

Federal Budget 2016 – What You Need To Know

written by:
Josh McMullen


The 2016 Federal Budget was handed down on Tuesday 3 May. Following are some of the headline announcements that the Government intends to implement in the event that it is re-elected in the coming months. If you have any questions on how these measures may impact you or your business, contact your PT Partners Advisor. INDIVIDUALS and FAMILIES Income Tax Cuts Individual income taxes will be reduced over the next…

Read more Leave a comment