Douglas & Harrison Pty Ltd

Douglas & Harrison Pty Ltd You have a vision of where you want your business to be. Douglas & Harrison are here to help you get there.

As one of Melbourne’s leading Chartered Accountants we provide a range of services.

D&H New Post - Senior Living Options As Australians live longer, many older adults are looking for housing that supports...
06/11/2025

D&H New Post - Senior Living Options

As Australians live longer, many older adults are looking for housing that supports a comfortable and connected lifestyle. Two of the most popular choices are retirement villages and land lease communities. Each offers its own mix of costs, benefits, and lifestyle perks.

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Compare retirement villages, independent living, and aged care. Discover the right senior living options in Australia for your needs.

When Is a Contract of Sale Considered Entered Into for CGT Purposes?The income year in which you enter into a contract t...
25/06/2025

When Is a Contract of Sale Considered Entered Into for CGT Purposes?

The income year in which you enter into a contract to sell an asset is crucial for Capital Gains Tax (CGT) purposes.

This is because it will be in that income year that you make a capital gain or loss on the sale of the asset – and not the income year in which “settlement” of the contract takes place, if that occurs in a later income year.

And this may have certain important consequences. For example, you may realise a capital loss in that year which you can then use to offset or reduce any capital gains made in that year also. On the other hand, you may delay entering into a contract of sale so as to defer any capital gain to the next income year where it may be taxed more generously.

This illustrates that there are important tax planning opportunities around planning the time in which you enter a contract to sell an asset – albeit, it can also raise the issue of tax avoidance in certain cases.

Learn more ...

Find out when a contract of sale is entered into for CGT purposes in Australia, plus key timing factors & important legal considerations.

No CGT Exemption for Homes Held on TrustIt’s pretty well-known that a foreign resident (for tax purposes) cannot get a C...
22/04/2025

No CGT Exemption for Homes Held on Trust

It’s pretty well-known that a foreign resident (for tax purposes) cannot get a CGT exemption for a main residence (if they are a foreign resident at the time they entered the contract of sale).

No CGT Exemption

Also, if the home was acquired after 8 May 2012, they won’t be entitled to any 50% CGT discount to reduce the amount of the assessable gain. And if they acquired the home before that date, then the amount of discount available will be reduced on a (disproportionate) sliding scale.

Of course, all this means that if a person is going to become a foreign resident and they want to get the CGT exemption on their home, they need to enter that contract of sale before they leave the country (even if the appropriate transaction takes place at the airport just before they leave!) Read more ...

It’s known that foreign residents cannot get a CGT exemption for a main residence (if they are a foreign resident at the time they entered the contract of sale).

Our April 2025 Newsletter was sent out today – Did you receive yours? We may need to talk about your family trust:You ma...
16/04/2025

Our April 2025 Newsletter was sent out today – Did you receive yours?

We may need to talk about your family trust:
You may have read about a recent court decision affecting some family trusts. In a case called Bendel, published on 19 February 2025, the Full Federal Court unanimously held that the private company beneficiary of a discretionary trust has not made a loan” or “financial accommodation” to the trust merely by not calling for the payment of its trust distribution.

Selling property?
– What’s changed?
– How does the withholding rule work?
– What if the property is your former home?
– How do you know if the seller is a foreign resident?
– Are there any exceptions?
– Other assets affected by these rules

Three great reasons to start a Transition to Retirement Pension
– Who can start a super pension?
1. Replace income while cutting back on work
2. Reduce tax and boost your super
3. Pay your debt off sooner
– Is a TTR Pension right for you?

Employees vs. Contractors
– Why does the difference matter?
– Key differences between employees and contractors
– Superannuation and contractors
– Companies, trusts, and partnerships are always contractors
– Workers who are always employees
– Why this matters to you?

Concessional contributions
– The basics of concessional contributions
– When do concessional contributions lose their tax advantage?
– What is YOUR effective tax-free threshold?
– Don’t forget your catch-up concessional cap!
– Watch your concessional cap and other tips

We may need to talk about your family trust. You may have read about a recent court decision affecting some family trusts. Read more.

Market Linked Income Streams – Stay or Go? Are you stuck in a Market Linked Income Stream? You now have a limited time p...
08/04/2025

Market Linked Income Streams – Stay or Go?

Are you stuck in a Market Linked Income Stream? You now have a limited time period to get out. But before you do, it’s best to check if it’s a smart idea.

The Government has made laws allowing retirees to get out of certain ‘legacy pensions’ before December 2029. These ‘legacy pensions’ include:

- Lifetime pensions
- Life expectancy pensions
- Market linked income streams

The most common of these are market linked income streams (MLIS) also known as Term Allocated Pensions (TAPs). Many retirees will be excited about commuting their MLIS. Unlike ordinary account-based pensions (ABPs), MLIS are inflexible insofar as pension drawdowns and commutations.

Continue reading ...

Explore market linked income streams and decide whether to stay invested or shift strategies for better financial growth.

Our Federal Budget Newsletter was sent out today – Did you receive yours? Federal Budget 2025 / 26 was released today – ...
26/03/2025

Our Federal Budget Newsletter was sent out today – Did you receive yours?

Federal Budget 2025 / 26 was released today – here’s our take
On 25th of March 2025 the federal government delivered its fourth budget, focusing on five key priorities including cost of living relief, housing and education.

From a tax and superannuation perspective there weren’t any surprises although the treasurer did pull a rabbit out of the hat by announcing a small (very small) tax cut for individuals. Not many commentators had been expecting that.

We have put together the key tax, superannuation and cost of living highlights together with measures already announced but not yet implemented to help you understand the changes that will impact you.

To review these key points, sign up to our newsletter and gain insight into the Federal Budget for 2025 – 2026.

The Federal Budget 2025 / 26 released 26/03/25. The budget focused on five key points including cost of living relief housing & education.

Our March 2025 Newsletter was sent out today – Did you receive yours?Our March 2025 Newsletter Issue CoveredSalary Sacri...
25/03/2025

Our March 2025 Newsletter was sent out today – Did you receive yours?

Our March 2025 Newsletter Issue Covered

Salary Sacrifice vs Personal Deductible Contributions:
Douglas and Harrison March Newsletter 2025
Super is a great way to save for retirement. It offers an opportunity to invest in long-term growth assets and enjoy generous tax concessions along the way.

And the winner is …
– Salary sacrifice
– Personal deductible super contributions
– Enjoy the best of both worlds: Combining salary sacrifice and PDCs
– Conclusion

Beware of Bitcoin gains!
Is an asset you own used in another person’s business?

FBT Checklist 2024-25
– CAR FRINGE BENEFITS
– CAR PARKING FRINGE BENEFITS
– LOAN FRINGE BENEFITS
– DEBT WAIVER FRINGE BENEFITS
– EXPENSE PAYMENT FRINGE BENEFITS
– BOARD FRINGE BENEFITS
– LIVING-AWAY-FROM-HOME ALLOWANCE (LAFHA)
– MEAL ENTERTAINMENT FRINGE BENEFITS
– HOUSING FRINGE BENEFITS
– ENTERTAINMENT LEASING FACILITY EXPENSES
– TAX-EXEMPT BODY ENTERTAINMENT FRINGE BENEFITS
– PROPERTY FRINGE BENEFITS
– RESIDUAL FRINGE BENEFITS
– FBT REBATE

Super is a great way to save for retirement. It offers opportunity to invest in long-term growth assets & enjoy generous tax concessions.

New Post 25 March 2025 - Capital gains tax: How good records can save you money Congratulations! Your investment has don...
25/03/2025

New Post 25 March 2025 -
Capital gains tax: How good records can save you money

Congratulations! Your investment has done well, and you’re cashing in. You’re happy, and so too is the ATO. That substantial capital gain has brought wealth and a hefty capital gains tax bill.

Sharing might be part of the deal but when it comes to your hard-earned profits, you might prefer to keep the ATO’s share to a minimum. Keeping good records will help do this. Here are some tips to help you hold onto more of your windfall and avoid that hefty tax bill.

How much did your investment really cost?
Click the link and continue reading

Keep the ATO’s share to a minimum. Here are some tips to help you hold onto your windfall, and avoid that hefty capital gains tax bill.

SMSFs vs Super Wraps: Which is Better for You?Many people choose to set up self-managed superannuation funds (SMSFs) or ...
13/11/2024

SMSFs vs Super Wraps: Which is Better for You?

Many people choose to set up self-managed superannuation funds (SMSFs) or wrap accounts as an alternative to retail or industry superannuation funds to gain more control over their investments and reduce fees.

Find out more ...

Discover the key differences between SMSFs and Super Wraps. Learn how to choose the best option for your retirement strategy.

Address

1 Levanswell Road
Moorabbin, VIC
3189

Opening Hours

Monday 8:30am - 5:30pm
Tuesday 8:30am - 5:30pm
Wednesday 8:30am - 5:30pm
Thursday 8:30am - 5:30pm
Friday 8:30am - 5:30pm

Telephone

+61395793377

Website

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