Q: A client needs guidance relation to the sale of commercial property sold as a going concern and its GST implications. As there is no GST on the sale of the property, what happens to other expenses such as commission and legal fees, which include GST? Can the GST on these items be claimed?

Q: I want to engage a US company for IT consulting. They will invoice my firm and I will pay them in US dollars. Can the US firm consult in Australia (no hidden licenses)? Do they need an ABN? Does the US firm pay GST?

Q: A client H (a private company) owns a property with seven townhouses on it that were being rented to tenants, In March 2017, the property was sold to a property developer (settlement has taken place). It has been sold on an untenanted basis for land value only.

Q: A client who operates a marine mechanics business. He has purchased a boat that uses to move divers around to different locations. The boat runs off petrol, which is an eligible fuel for fuel tax credits.

TAX TIP – Temporary increase to ‘low cost’ and ‘low value’ thresholds

• Subdivision 328-D

An SBE taxpayer may choose to calculate depreciation under the accelerated depreciation rules (in Subdivision 328-D) instead of the uniform capital allowance rules (in Division 40). Broadly speaking, a taxpayer is an SBE under S.328-110 where: