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.

Q: My client works from home in New South Wales for three weeks, then travels to his employer's office in Sydney for the fourth week. He stays with his son in Sydney to save on accommodation costs. Can he claim travel expenses between his home office and the Sydney office? The distance is 550km. I know there's a case about fly-in fly-out workers, but I'm not sure if it applies here.

Q: A client sold their company, which includes selling the goodwill and other factors like stock. The contract includes transferring stock based on a report every two months, capped at $600,000 excluding GST. Is the stock sale subject to GST, or is it part of the sale of a going concern and GST-free?

Q: Company A was going to sell its business to Company B, who paid a $10,000 fee to secure the option to make the offer. If Company B decides not to buy, will this trigger a tax event?

Q: A doctor works for a company that supplies patients for him to visit. He's paid per patient, not hourly. To boost his earnings, his wife drives him around while he works. He wants to pay her a fair rate for this service.