Q: The question is about whether GST applies to a payment made when a commercial lease is terminated. The landlord paid the tenant $15,000 because they needed the space for their expanding business. The payment was meant to cover the cost of the tenant moving out, but there's no paperwork specifying its purpose. If inducements for entering a lease attract GST, does this payment also attract GST?

Question: A dwelling owned by a private limited company is proposed to be leased to its directors and shareholders (the mother and father) for residential use. The property won't be the main home of the parents. They will pay a fair market rent for the property. Is it true that since they are paying market rent, there will be no payment for Div 7A purposes as per section 109CA(11) of ITAA 1936? If the parents aren't company employees, are there any other tax implications from the proposed lease?

Q: If a not-for-profit offers salary sacrifice below $30,000 annually, should reportable fringe benefits be included in employee PAYG payment summaries?

Q: Our client runs their business through a family discretionary trust and wants to switch to a company or unit trust to bring in new business partners. Are there any provisions for rolling over the business from a discretionary trust to a unit trust?

Q: A client gives a subcontractor car benefits. The subcontractor works within the client's business but doesn't take on any risk for the work. The payment to the subcontractor is subject to payroll tax. Does the client need to pay FBT on the subcontractor’s car benefit?

Q: A business client had a turnover of $4 million for both the 2016 and 2017 financial years. For the 2017 financial year, can they use the simplified depreciation rules for small businesses? If yes, and they have individual assets valued at less than $20,000 on July 1, 2016, can these assets be immediately written off, or do they all need to be put into a general pool?

Q: Torres and Baker ran a dog washing business together in Mosman, NSW, called Pets R. Torres decided to leave the partnership and start his own dog washing business alone. In May 2017, Baker paid Torres $50,000 to make sure he wouldn't start a similar business within a 10 km radius of Mosman. This payment was to protect Pets R's reputation.

Q: I have a client who buys and rents out shipping containers. Eventually, they sell the containers to buyers. My question is, should we consider the shipping containers for rent as inventory, depreciable assets, or neither?

Q: Two directors/shareholders want to transfer plant and equipment to their company through loan accounts ($100,000). Can they gift these assets to the company instead of creating loans for themselves? If yes, how should this be recorded in the accounts, and are there any tax implications?

Q: A client owns a bed-and-breakfast (B&B) business with four adjacent properties used for guest accommodation. The business makes $200,000 a year. They want to sell the business and properties for $1.6 million ($1.5 million for the properties and $100,000 for the business). Will this sale be subject to GST? Can they get an exemption for selling the business as a "going concern" because the properties are essential for the business?

Question: I run a small business and bought something for $22,000 including GST (which is $20,000 without GST). The instant asset write-off rules say you can write off things that cost less than $20,000, but anything $20,000 or more needs to be added to the balance sheet as a capital expense. So, based on this, do I need to put the asset on the balance sheet for $20,000 instead of counting it as a regular expense in the profit and loss account? Is this what you understand from the rules?

Q: A client passed away in the 2016 financial year. We're sorting out their taxes for that year and need advice on how to handle income from their assets after their death. They owned commercial properties with their wife, but we're not sure if they owned them as joint tenants or tenants in common. If it's joint tenants, does the property automatically go to the surviving spouse? Do we need to file an estate tax return? What if the property hasn't been officially transferred yet? Can a family trust give income to a deceased estate?

Q: A client is buying a commercial property with a tenant, which means the purchase is GST-free because it's considered a going concern. However, the client plans to divide the land and build three residential townhouses. How does the client calculate the GST margin when selling these properties? (Note: The owner originally phased the property before June 2000, and it's been used for commercial purposes since.)

Q: Section 38-480 states that the land must have been used for farming for at least five years before the sale to qualify for GST-free status. What happens if the farming business has stopped, even though the land was a farm for longer than five years? This concerns a large farming property in the Northern Territory that has been divided into smaller parcels. The head of the family managed the farming and subdivision but passed away unexpectedly about 18 months ago, after which the farming business wasn't actively pursued.