Wednesday, January 24, 2018
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Carrazzo Blog

Stock Ins & Outs - The Tax Mistakes

Stock will be coming and going in the coming sales period, so I thought I would highlight two major tax stock issues often overlooked by advisers.

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Can I borrow from a Super Fund for horses?

I saw an article about this topic recently and couldn’t help but think that it’s a topic that does have real application to the Breeding/Racing industry. This article sums up the situation clearly for people contemplating this. Read More

Carrazzo gets GST justice for stallion investors

We’re so glad we were asked to sort this GST stallion claim problem for an industry player, as our success has put the ATO on notice that we (and the industry) won’t be “pushed around” on this issue – they can’t be making decisions based on their misinterpretation of the GST provisions that potentially cost stallion investors many thousands of dollars (not just in GST, but advisor fees and time).

Our office is working hard to educate the ATO in this area, with a view to the release of a public ruling that will provide the industry with well overdue certainty on many stallion income tax and GST issues. Watch this space..

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Pre CGT farmland is not always tax exempt

In the past few months, surprisingly, I’ve had a fair few queries on this topic, especially NSW farmers wanting to sell down. It’s a topic rarely raised, but it’s a real “sleeper” and should be.

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Horses and wealth again on ATO radar

When the ATO makes it so obvious that it targets wealthy players in the Racing Industry, I can’t help but put the industry on notice.

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Don't forget this stock tax rule!

It’s the start of the tax year and I see these stock rules continually overlooked for new start-ups.

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Finally a Stallion Tax Case

Cases involving taxation and stallions don’t come along very often and this is a very interesting one to share.

Be on notice – our office is seeking some landmark ATO rulings re tax and stallions and these outomes will be released in the coming days and weeks.

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