News and Updates

Main Residence vs Rental Property: When Is a Market Valuation Required for CGT?

Property & Tax Update

Changing between a main residence and a rental property does not always require a market valuation. Learn when the market-value reset applies, how time apportionment works, and what the six-year absence rule means.

Employee Share Schemes: Don't Overlook CGT When Preparing Individual Tax Returns

Accounting & Taxation Update

Employee share scheme pre-fill information does not necessarily cover the capital gains tax consequences when shares are subsequently sold. Learn what tax agents should check when preparing individual tax returns.

Property Partition — A Potential Stamp Duty and CGT Planning Opportunity

Property & Tax Update

Where two parties acquire property jointly but intend to ultimately own different properties or portions of the property, a deed of partition may be worth considering.

Genuine Redundancy Payments: What Employers and Employees Need to Know

Employment & Tax Update

When an employee's employment ends because their position is genuinely no longer required, the payment made by the employer may qualify as a genuine redundancy payment for tax purposes.

Director Duties and Obligations: What Company Directors Need to Know

Business & Company Update

Many small-business owners are both the shareholder and director of their company. Directors have responsibilities to understand the company's business, financial position and key obligations, even when professional advisers are engaged.

Debt Recycling: How Can Homeowners Restructure Debt for Investment?

Property & Tax Update

Debt recycling may allow homeowners to progressively reduce non-deductible private home debt and replace it with borrowing used for an income-producing investment.

The purpose and actual use of the borrowed funds are important, and the money trail should clearly show how the investment borrowing was used.

How Should Investment Property Owners Decide Whether to Sell or Hold Amid Changes in Interest Rates, Inflation, Migration and Tax Policy?

Property & Tax Update

With interest rates, inflation, migration patterns and tax policies changing, many investment property owners are considering whether to continue holding their properties or sell.

Before making a decision, investors should consider their cash flow, borrowing capacity, holding costs, transaction costs, tax consequences and ability to hold the property over the longer term.

Welcome to Ace Solutions Accounting & Taxation — News and Updates

Business Update

We are pleased to introduce our new News and Updates section, where we will share useful information relating to taxation, accounting, business, payroll, technology and regulatory matters.