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Tag: Capital Gains Tax CGT

Data matching and share transactions

ATO data matching and share transactions The ATO has extended its data matching program, this time focusing on share data. The ATO will continue to receive share data from ASIC, including details of the price, quantity and time of individual trades dating back to 2014, with more than 500 million records obtained. The ATO will […]

Cryptocurrency

Transacting with cryptocurrency With interest in cryptocurrencies (such as Bitcoin) increasing, the ATO has issued guidance regarding various tax consequences of transactions involving cryptocurrencies. Any capital gains made on the disposal of a cryptocurrency (including using the cryptocurrency or converting it to Australian dollars) may be taxed, although certain capital gains or losses from disposing […]

Super rates and thresholds

New superannuation rates and thresholds released  The ATO has published key super rates and thresholds for the 2018/19 income year. The Non-Concessional Contributions cap will remain at $100,000 (although transitional arrangements may apply), and the Concessional Contributions cap will remain at $25,000. The CGT cap amount will be $1,480,000. The Division 293 tax threshold will be […]

Healthcare practitioners

Lump sum payments for healthcare practitioners If you are a healthcare practitioner, you may receive lump-sum payments. It is important to know how to treat these correctly when received. As part of the ATO’s work on the Tax Avoidance Taskforce, they see a number of arrangements in the healthcare services industry where a lump sum payment is made and […]

Big changes proposed to eligibility for the CGT SBCs

Treasurer has released draft legislation containing new “integrity improvements” to CGT small business concessions (SBCs) Includes the 15-year exemption, the retirement exemption, the 50% active asset reduction and the small business roll-over. Due to the government’s “continued support for genuine small business taxpayers”, it proposes making amendments so that the CGT SBCs can only be accessed […]

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Justin Flavel

Managing Director

Justin’s experience spans across 20 years in accounting, financial analysis and general business practice.

Although born and bred on the land, Justin’s interest was more in spreadsheets, ledgers, and finance which led him to attend university. In 1992, Justin graduated with a Bachelor of Business majoring in Accounting and Finance. As well as qualifying as a CPA member and becoming a Fellow of the Taxation Institute of Australia, he began gaining practical experience in small and mid-tier accounting practices.

During the late 90s, Justin decided to expand his horizons and travel through Europe. It was during this time that he seized the opportunity to expand his knowledge on the workings of large organisations by taking on roles in multinational corporations.

Today, Justin’s passion is in facilitating businesses to grow and evolve. His focus is on acting in the role of business mentor to help clients develop the full potential of their businesses. He joins clients on their unique journey, and provides the tools and knowledge they need along the way to make the right decisions.

Justin’s aim for his clients parallels his own philosophy and personal journey—focusing on his own career growth and business success while maintaining balance in his life with his wife and three daughters.

Omnis Group Managing Director - Justin Flavel