WELCOME TO 'STABLE TALK',
STABLE FINANCIAL'S QUARTERLY NEWSLETTER

There have been some significant changes to the non commercial loss provisions effective 1st July 2009. These may possibly impact on your ability to claim any losses returned on your business activities against your other income from this date.

From 1 July 2009, for individual taxpayers with an “adjusted taxable income” of over $250,000, any business losses will be quarantined (cannot be offset against other income) for utilisation against future profits of that business activity only. This is regardless of the fact that the business may have satisfied the existing commerciality tests.

» READ MORE

We are asked by clients on a regular basis whether they can use their superannuation to buy a property.

The short answer is yes as long as you or a person who is “related” to you does not live in it (unless it is a property being used in a primary production business in which case you can).

» READ MORE

There have been a number of recent legislative changes and case law that may possibly impact on your business and the impact of these needs to be considered. These include:

» Change to the non-commercial loss rules (as discussed in an earlier article);
» Impact of the ‘Bamford’ case on Trust resolutions and distributions;

» READ MORE

Stable Financial, the most progressive professional services firm specializing in the thoroughbred industry, is proud to announce the arrival of its Syndication service, Stable Connect.

Adam Tims, joint director of Stable Connect Ltd (AFSL: 336964), has long held an ambition to operate a business promoting and managing Thoroughbred breeding and racing syndicates that has as its foundations “strong corporate governance, independence, transparency and integrity”.

Adam added “Day-to-day financial management of the syndicates will be the driving force of the business. This will include back office support and regular communication with stakeholders.”

Its primary focus initially will be the facilitation and promotion of stallion and broodmare syndicates, with the aim of ‘Bringing Horse People Together’.

More details are available on our website at www.stablefinancial.com.au

We are pleased to announce the launch, in partnership with the world
renowned Swettenham Stud, of the Swettenham Stud Breeding Venture # 1.

The venture has many important ingredients:
» It will source and purchase at least five quality broodmares; Two will be
from the USA and their foals will be weaned after birth in early 2010 and
sold next November at Keeneland Foal Sale in Kentucky.

» READ MORE

The Fringe Benefits Tax (FBT) year has recently ended (31st March 2010) and returns are, generally, due for lodgment by the 21st May 2010. With the ATO flagging their intention to increase their audit activity in this area, now is the time to reconsider if your business has a FBT liability that is not being disclosed. If you would like to discuss in more detail or register your business for FBT, please do not hesitate to contact a member of our team.

» READ MORE