Erika Corsino

Understanding the Fine Line Between Property Development and “Merely Realizing an Asset”

Sometimes, it can be tricky to tell if someone is involved in property development or just making use of an existing asset. For example, if someone subdivides their backyard, builds one or more units, and sells them, it’s not always clear whether this counts as property development or simply selling an asset they’ve used mainly for living purposes.

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Are You A High-Income Earner? Beware of Division 293 Tax!

If you’re a high income earner, you may soon be asked to pay an extra 15% tax on the amount of concessional contributions that exceed the $250,000 threshold.

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Tax Update

Pitfalls for lodging Early Before “Tax Ready” The Australian Taxation Office (ATO) cautions taxpayers about the risks of lodging tax returns too early. According to the ATO, individuals who file their returns in early July are twice as likely to make mistakes. This is because from late July, most information from employers, banks, government agencies,

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