澳大利亚税务局（ATO）提醒非营利组织(NFPs)，提交非营利组织自我审查申报表的截止日期即将到来。在 2023-24 收入年度自我评估为免征所得税的非慈善性非营利组织必须在 2025 年 3 月 31 日之前完成并提交报税表。

所得税豁免资格

如果非慈善性非营利组织的核心活动符合《1997 年所得税评估法》（ITAA 1997）第 50 分部规定的八个类别之一，则有资格获得所得税豁免。虽然该免税资格标准保持不变，但提交非营利组织自我审查申报表的要求是一项新的合规义务。这代表着非营利组织必须首次正式向澳大利亚税务局通报其资格。

维护管理文件

为了维持所得税豁免资格，非营利组织必须确保其管理文件（例如章程、规则手册、信托契约或协会章程）明确体现其非营利组织的地位。这些文件必须清楚表明该组织不得将利润或资产分配给会员或私人，除非是出于对提供服务或代表组织支付费用的合法补偿。

如果非营利组织的现行管理文件不包含这些规定，该组织可在 2025 年 6 月 30 日之前更新这些文件。尽管有这一宽限期，但只要非营利组织未向成员分配任何收入或资产，仍可在 2024 收入年度自行评估为免征所得税。

常见误区澄清

澳大利亚税务局已更新其网站，以澄清有关非营利组织免税的常见误解。以下是关键要点：

1. 并非所有NFP都享有所得税豁免 – 只有获得ATO认可的注册慈善机构以及符合自行评估标准的非慈善类NFP才可享受税收豁免。
2. NFP自行审核申报表有多种提交方式 – NFP可通过三种方式提交申报表：通过ATO在线门户、ATO电话服务，或由注册税务代理代为提交。
3. 只有授权人员可以在线提交申报表 – 只有在ATO“在线服务”系统中获得授权访问的个人才能提交NFP自行审核申报表。
4. 不确定NFP是否具有慈善性质仍需提交申报 – 如果NFP不确定其是否属于慈善机构，仍需完成自行审核申报，并在回答“慈善目的”问题时选择“是”或“不确定”。

关于税务豁免类别的更多信息

ATO还提供了针对特定类别的免税非营利组织类别的最新信息，包括那些涉及教育、就业和资源开发的非营利组织。在这些领域运营的非营利组织应查看澳大利亚税务局的最新指南，以确保符合相关的豁免要求。

如需了解更多详情，请同专业人士联系，以寻求有关免税标准和合规义务的最新更新。

皮特马丁会计师事务所 Pitt Martin Group 是一家提供税务，会计，生意咨询, 自管养老金及审计的贷款等综合性服务的经澳洲会计师公会认证的注册会计师事务所。我们每年会花上几百个小时去研究新的税法，以保证我们的客户可以最大化合理避税。我们的中文联系方式是 Robert Liu +61292213345 或邮件 info@pittmartingroup.com.au。皮特马丁会计师事务所Pitt Martin Group坐落在交通便利的悉尼市市中心，是一家拥有可以说中文合伙人的会计师事务所。我们的荣誉包括2018年CPA新州首席优秀奖， 2020年澳大利亚小生意年度冠军入围奖, 2021年澳洲知名媒体《每日会计师》年度最佳会计师事务所冠军入围奖，2022年最佳会计师事务所新人入围奖和2023香港澳大利亚商业协会最佳积极生意入围奖。

皮特马丁会计师事务所 Pitt Martin Group资质包括超过十五年的从业经验，澳大利亚注册会计师协会（CPA）执业认证会员，澳大利亚税务注册代理，新州、维州和西澳律师协会信托账户 (Trust Account) 认证审计师，澳大利亚金融贷款经纪人协会（FBAA）执业认证会员，澳大利亚证券及投资委员会注册代理，XERO, QUICKBOOKS, MYOB等会计软件授权单位及认证顾问。

本文内容仅供参考，不构成对任何个人或团体的具体情况而形成建议。任何个人或团体应该在征求专业人士的意见后方可采取行动。由于税法的时效性，我们在发布时已致力于提供及时、准确的信息，但不能保证所称述的内容在今后任然可以适用。转发该文内容请注明出处。

By Zoe Ma @ Pitt Martin Tax

The Australian Taxation Office (ATO) is reminding not-for-profit (NFP) organisations of the approaching deadline for lodging their NFP self-review return. Non-charitable NFPs that self-assess as income tax exempt for the 2023-24 income year must complete and submit their return by 31 March 2025.

Eligibility for Income Tax Exemption

Non-charitable NFPs may qualify for an income tax exemption if their core activities align with one of the eight categories specified in Division 50 of the Income Tax Assessment Act 1997 (ITAA 1997). Although the eligibility criteria for this exemption remain unchanged, the requirement to submit the NFP self-review return is a new compliance obligation. This marks the first instance in which NFPs must formally notify the ATO of their eligibility.

Maintaining Governing Documents

To maintain eligibility for income tax exemption, NFPs must ensure that their governing documents (such as constitutions, rule books, deeds of trust, or articles of association) clearly reflect their NFP status. These documents must explicitly state that the organisation cannot distribute profits or assets to members or private individuals, except in cases of legitimate reimbursements for services rendered or expenses incurred on behalf of the organisation.

If an NFP’s current governing documents do not contain these provisions, the organisation has until 30 June 2025 to update them accordingly. Despite this grace period, NFPs may still self-assess as income tax exempt for the 2024 income year, provided they have not distributed any income or assets to members.

Addressing Common Myths and Misconceptions

The ATO has updated its website to clarify common misunderstandings regarding NFP tax exemption. Here are some key points:

1. Not all NFPs are income tax exempt – Only registered charities endorsed by the ATO and non-charitable NFPs that meet the self-assessment criteria qualify for an exemption.
2. Multiple ways to lodge the self-review return – NFPs have three options for submission: via the ATO online portal, the ATO phone service, or through a registered tax agent who can lodge on their behalf.
3. Only authorised individuals can lodge the return online – The NFP self-review return can only be lodged by individuals who have been granted authorised access in the ATO’s Online Services system.
4. Uncertainty about charitable status still requires lodgement – If an NFP is unsure whether it qualifies as a charity, it must still complete the self-review return and select either ‘Yes’ or ‘Unsure’ when responding to the charitable purposes question.

Further Guidance on Exempt Categories

The ATO has also provided updated information on specific categories of tax-exempt NFPs, including those involved in education, employment, and resource development. NFPs operating in these sectors should review the ATO’s latest guidance to ensure compliance with the relevant exemption requirements.

For more details, NFPs are encouraged to seek advice from tax practitioners for the latest updates regarding tax exemption criteria and compliance obligations.

Pitt Martin Group is a CPA accounting firm, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Australian Society of Certified Practising Accountants (CPA), Australian Taxation Registered Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

澳大利亚政府已宣布计划为大型养老金基金引入强制性标准，旨在提高死亡抚恤金发放的效率并且更加人性化。这引发了一个思考：去世后发放养老金是否存在难题？

死亡时养老金分配面临的挑战

澳大利亚的养老金行业已发展成为规模达 4.1 万亿澳元的巨大产业。然而，当个人去世时，其养老金并不会自动成为其遗产的一部分。相反，养老金基金受托人会根据基金规则、养老金法以及死者所作的有效死亡抚恤金提名来决定如何分配死亡抚恤金。

社会广泛对获取这些资金的延迟问题的担忧日益增加。在 2021 年至 2023 年期间，澳大利亚金融投诉管理局（AFCA）记录的有关养老金死亡抚恤金的投诉增加了七倍，其中延迟是主要问题。虽然许多养老金基金会在三个月内发放抚恤金，但在某些情况下，受益人要等上一年多才能收到款项。现行的养老金法仅要求在“切实可行的情况下尽快”支付抚恤金，但并未明确具体的时间框架。

确保您的养老金支付给正确的受益人

处理养老金死亡抚恤金可能很复杂。除非有有效的死亡抚恤金指定，否则养老金基金受托人有权决定谁来领取这笔钱。如果成员未作出有效的指定或现有的指定失效，受托人可以将养老金支付给任何符合条件的依赖人或死者的遗产。

为了确保您的养老金按照您的意愿分配，了解四种主要的死亡抚恤金指定类型至关重要：

1. 具有约束力的死亡抚恤金指定: 这在法律上要求受托人将养老金直接支付给指定的受益人。大多数具有约束力的指定在三年后失效，除非明确指定为不会失效。
2. 不失效的具有约束力的死亡抚恤金指定: 如果基金的信托契约允许，这种指定将无限期有效，除非被撤销。它确保指定的受益人将获得养老金，而无需受托人行使自由裁量权。
3. 非约束力死亡抚恤金指定: 这可作为受托人的指导方针，但不能保证被提名的个人一定能获得养老金。受托人仍可行使酌情权，将抚恤金分配给其他符合条件的受益人或遗产。
4. 继受受益人: 如果您正在领取养老金，您可以指定一名继受受益人。在您去世后，养老金支付将自动转给被指定的个人，通常是配偶或未满 18 岁的受抚养子女。

谁可以领取您的养老金？

养老金可以分配给受抚养人、法定代表（如遗产执行人）或与死者存在相互依赖关系的人。根据养老金法，“受抚养人”包括：

• 配偶
• 子女（不论年龄）
• 与死者存在相互依赖关系的个人，即他们相互提供经济支持或照顾。

死亡抚恤金未指定的后果

如果在去世时没有有效的死亡抚恤金指定，养老金基金受托人将根据相关州或地区的法律确定受益人。在大多数情况下，抚恤金将分配给养老金受抚养人或遗产的合法代表，按照遗嘱进行分配。

常见问题和延误

许多法庭案件对死亡抚恤金提名的有效性提出了质疑，这往往导致代价高昂且旷日持久的纠纷。为确保提名有效，需注意以下几点：

• 必须以书面形式作出，签名并注明日期。
• 必须有有效的见证人。
• 应使用被提名人的法定全名。
• 如果将抚恤金指定给遗产，措辞必须符合法律规定。

当提名缺失、过期或无效时，往往会引发延误。此外，当有多名索取人时，可能会出现纠纷，这要求受托人在做出决定前处理复杂的家庭关系。

关键要点：立即行动保护您的受益人

无论年龄大小，定期审查您的养老金死亡抚恤金的提名以确保其符合您当前的意愿至关重要。谨慎确认您的提名类型是否恰当、是否有效的且是最新的。虽然处理死亡抚恤金时仍可能出现延误，但提前做好清晰且合法有效的指定安排，能够大大加快处理速度，并为本已处于艰难时刻的亲人们减轻压力。

皮特马丁会计师事务所 Pitt Martin Group 是一家提供税务，会计，生意咨询, 自管养老金及审计的贷款等综合性服务的经澳洲会计师公会认证的注册会计师事务所。我们每年会花上几百个小时去研究新的税法，以保证我们的客户可以最大化合理避税。我们的中文联系方式是 Robert Liu +61292213345 或邮件 info@pittmartingroup.com.au。皮特马丁会计师事务所Pitt Martin Group坐落在交通便利的悉尼市市中心，是一家拥有可以说中文合伙人的会计师事务所。我们的荣誉包括2018年CPA新州首席优秀奖， 2020年澳大利亚小生意年度冠军入围奖, 2021年澳洲知名媒体《每日会计师》年度最佳会计师事务所冠军入围奖，2022年最佳会计师事务所新人入围奖和2023香港澳大利亚商业协会最佳积极生意入围奖。

皮特马丁会计师事务所 Pitt Martin Group资质包括超过十五年的从业经验，澳大利亚注册会计师协会（CPA）执业认证会员，澳大利亚税务注册代理，新州、维州和西澳律师协会信托账户 (Trust Account) 认证审计师，澳大利亚金融贷款经纪人协会（FBAA）执业认证会员，澳大利亚证券及投资委员会注册代理，XERO, QUICKBOOKS, MYOB等会计软件授权单位及认证顾问。

本文内容仅供参考，不构成对任何个人或团体的具体情况而形成建议。任何个人或团体应该在征求专业人士的意见后方可采取行动。由于税法的时效性，我们在发布时已致力于提供及时、准确的信息，但不能保证所称述的内容在今后任然可以适用。转发该文内容请注明出处。

By Zoe Ma @ Pitt Martin Tax

The Australian Government has announced plans to introduce mandatory standards for large superannuation funds aimed at improving the efficiency and compassion of death benefit payouts. This raises the question: Is there a problem with paying out superannuation when a member passes away?

The Challenge of Distributing Superannuation Upon Death

Superannuation in Australia has grown to an enormous $4.1 trillion industry. However, when an individual passes away, their super does not automatically become part of their estate. Instead, the super fund trustee determines how the death benefit is distributed based on the fund’s rules, superannuation laws, and any valid death benefit nominations made by the deceased.

Concerns about delays in accessing these funds have been increasing. Between 2021 and 2023, the Australian Financial Complaints Authority (AFCA) recorded a sevenfold rise in complaints regarding superannuation death benefits, with delays being the primary issue. While many superannuation funds distribute benefits within three months, in some cases, beneficiaries have waited over a year to receive payments. Current superannuation laws only require that benefits be paid “as soon as practicable,” without specifying a clear timeframe.

Ensuring Your Superannuation Goes to the Right Beneficiary

Handling superannuation death benefits can be complex. Unless a valid death benefit nomination is in place, the super fund trustee retains discretion over who receives the funds. If a member has not made a valid nomination or let an existing nomination lapse, the trustee may distribute the superannuation to any eligible dependents or to the deceased’s estate.

To ensure your superannuation is distributed according to your wishes, it is crucial to understand the four main types of death benefit nominations:

1. Binding Death Benefit Nomination
   • This legally requires the trustee to pay the superannuation directly to the nominated beneficiary.
   • Most binding nominations expire after three years unless it is specified as non-lapsing.
2. Non-Lapsing Binding Death Benefit Nomination
   • If permitted by the fund’s trust deed, this nomination remains in place indefinitely unless revoked.
   • It ensures that the nominated beneficiary will receive the super without trustee discretion.
3. Non-Binding Death Benefit Nomination
   • This serves as a guideline for the trustee but does not guarantee the nominated individual will receive the super.
   • The trustee can still exercise discretion and allocate the benefit to another eligible dependant or the estate.
4. Reversionary Beneficiary
   • If you are receiving a superannuation pension, you can nominate a reversionary beneficiary.
   • Upon your passing, pension payments will automatically transfer to the nominated individual, usually a spouse or dependent child under 18.

Who Can Receive Your Superannuation?

Superannuation can be distributed to a dependant, a legal representative (such as the executor of the estate), or someone in an interdependency relationship with the deceased. A “dependant” under superannuation law includes:

• A spouse
• A child (regardless of age)
• An individual with whom the deceased had an interdependency relationship, meaning they provided financial support or care to each other.

The Consequences of Not Making a Nomination

If no valid nomination is in place at the time of death, the super fund trustee will determine the recipient based on relevant state or territory laws. In most cases, the benefit will be distributed to a superannuation dependant or the estate’s legal representative for allocation according to the Will.

Common Issues and Delays

Numerous court cases have challenged the validity of death benefit nominations, often resulting in costly and prolonged disputes. To ensure a valid nomination:

• It must be in writing, signed, and dated.
• It must be correctly witnessed.
• The nominee’s full legal name should be used.
• If directing the benefit to the estate, the wording must be legally precise.

Delays often arise when nominations are missing, expired, or invalid. Additionally, disputes can occur when multiple claimants are involved, requiring trustees to navigate complex family relationships before making a decision.

Key Takeaway: Act Now to Protect Your Beneficiaries

Regardless of age, it is essential to review your superannuation nominations regularly to ensure they align with your current wishes. Confirm that your nomination type is appropriate, valid, and up-to-date. While delays in processing death benefits may still occur, having a clear and legally sound nomination in place can significantly expedite the process and alleviate stress for your loved ones during an already difficult time.

Pitt Martin Group is a CPA accounting firm, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Australian Society of Certified Practising Accountants (CPA), Australian Taxation Registered Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

过去几年充满了经济和政治的不确定性。随着我们迈进2025年，虽然无法保证，但人们对稳定性持谨慎乐观态度。本篇文章列举了2025年企业和个人可能面临的关键变革和挑战。

澳洲联邦大选

随着联邦大选临近，社交媒体、语音信箱和电视中将充斥大量政治信息。反对党将质疑澳大利亚人的生活是否有所改善，而执政党将强调其成就。

2025-26财年的联邦预算将于2025年3月25日公布，这表明选举将于2025年3月或5月举行，最迟不会晚于2025年5月17日。

关键法案立法不确定性

2024年最后一个议会会议日通过了32项法案，包括一些对企业和个人有影响的法案。然而，两项重要提案仍未解决：

1. 第296条税法：针对超过300万澳元余额的养老金收入征收30%的税
   提议的第296条税法将对超过300万澳元余额的养老金收入征收30%的税，从2025年7月1日开始生效。目前，该法案在参议院停滞不前，且在选举前通过的可能性较小。如果该法案失效，下一届政府将决定是否重新审议或放弃该措施。
2. 小型企业2万澳元即时资产抵扣
   政府提议将符合条件的小型企业的即时资产抵扣额度2万澳元延长至2024-25财年。然而，这一措施意外地被排除在最终立法之外。如果未能延续，抵扣额度将回归1,000澳元，给计划进行资产投资的小型企业带来不确定性。

税务与养老金变动

1. 外国居民资本利得预扣税
   从2025年1月1日起，针对出售澳大利亚房产的外国居民，资本利得预扣税将发生变化：
   • 预扣税率将从12.5%提高至15%。
   • 目前的75万澳元价值门槛将被取消，所有外国居民出售的房产均适用预扣税。
   • 此改革适用于2025年1月1日或之后进行的房产交易。

2. 养老金保证金增长
   养老金保证金（SG）税率将于2025年7月1日从11.5%提高至12%，这是立法中最后一步的增长。
3. 带薪育儿假纳入养老金
   从2025年7月1日起，符合条件的父母将收到12%带薪薪育儿假补贴的养老金供款。

经济展望：利率与生活成本

利率

虽然截至2024年9月，通胀率从5.4%降至2.8%，但澳大利亚储备银行（RBA）仍保持谨慎态度。行长Michele Bullock强调，通胀水平必须稳定在2-3%的目标范围内，才会考虑降息。利率下调时间的预测各异：

• 联邦银行（CBA）：2025年2月
• 澳新银行（ANZ）和西太平洋银行（Westpac）：2025年5月
• 国民银行（NAB）：2025年6月

生活成本压力

澳大利亚经济增长仍然缓慢，2024年全年仅增长0.8%，是自2020年12月季度以来的最低水平。尽管个人所得税减免和能源补贴提供了一定缓解，但不断上升的抵押贷款成本仍然对家庭造成压力。政府支出仍是经济活动的主要驱动力。

国际动态：特朗普效应

唐纳德·特朗普已于2025年1月20日就任美国总统，共和党将同时控制参议院和众议院。特朗普的政策提议，包括对中国、加拿大和墨西哥进口商品征收关税，引发了贸易战的担忧。主要政策包括：

• 对加拿大和墨西哥进口商品征收25%关税。
• 对中国进口商品加征10%额外关税。

对于澳大利亚来说，由于中国是我们最大的贸易伙伴（2023年双边贸易占26%），这些政策可能产生间接影响。中国经济放缓可能会对澳大利亚经济增长产生负面影响。目前，1澳元兑美元汇率已下跌至约0.63美元。

环境政策：新车排放标准

从2025年1月1日起，汽车制造商将面临强制性二氧化碳排放目标。这些目标将逐步收紧，要求制造商生产更节能或零排放车辆。

虽然制造商仍可销售任何类型的车辆，但他们必须通过生产更多节能型的车型来抵消不太节能的车型。如果制造商达标或超标，他们将获得积分；如果未能达标，则有两年时间可以通过与其他供应商交易积分或自行获得积分，否则将面临处罚。

职场变革：工资盗窃定为刑事犯罪

从2025年1月1日起，故意少支付工资或养老金将被视为刑事犯罪。如果雇主故意违反《公平工作法》或相关协议，他们将面临处罚。

• 罚款：最高为欠薪金额的三倍，或最高782.5万澳元。

逐步淘汰支票

政府已制定逐步淘汰支票的计划：

• 2028年6月30日后，将不再签发支票。
• 2029年9月30日后，将不再接受支票支付。

过去十年，支票使用量已减少90%，银行已开始停止为新客户提供支票簿。尽管如此，现金仍然是重要的支付方式之一。

现金依然重要

虽然澳大利亚人越来越多地使用电子支付，但政府强调现金的重要性：

• 150万澳大利亚人在超过80%的面对面支付中依赖现金。
• 当电子数据系统中断或发生自然灾害时，现金提供了后备支付方式。

政府计划要求企业接受现金支付普通商品，但小型企业将获得一定的豁免。

结语：缓慢而稳健的进展

2025年在税收、养老金和经济政策方面将迎来适度变革，同时政治和国际挑战仍在继续。虽然通往稳定的道路充满不确定性，但企业和个人应为立法、职场监管和全球贸易条件的关键过渡做好准备。

皮特马丁会计师事务所 Pitt Martin Group 是一家提供税务，会计，生意咨询, 自管养老金及审计的贷款等综合性服务的经澳洲会计师公会认证的注册会计师事务所。我们每年会花上几百个小时去研究新的税法，以保证我们的客户可以最大化合理避税。我们的中文联系方式是 Robert Liu +61292213345 或邮件 info@pittmartingroup.com.au。皮特马丁会计师事务所Pitt Martin Group坐落在交通便利的悉尼市市中心，是一家拥有可以说中文合伙人的会计师事务所。我们的荣誉包括2018年CPA新州首席优秀奖， 2020年澳大利亚小生意年度冠军入围奖, 2021年澳洲知名媒体《每日会计师》年度最佳会计师事务所冠军入围奖，2022年最佳会计师事务所新人入围奖和2023香港澳大利亚商业协会最佳积极生意入围奖。

皮特马丁会计师事务所 Pitt Martin Group资质包括超过十五年的从业经验，澳大利亚注册会计师协会（CPA）执业认证会员，澳大利亚税务注册代理，新州、维州和西澳律师协会信托账户 (Trust Account) 认证审计师，澳大利亚金融贷款经纪人协会（FBAA）执业认证会员，澳大利亚证券及投资委员会注册代理，XERO, QUICKBOOKS, MYOB等会计软件授权单位及认证顾问。

本文内容仅供参考，不构成对任何个人或团体的具体情况而形成建议。任何个人或团体应该在征求专业人士的意见后方可采取行动。由于税法的时效性，我们在发布时已致力于提供及时、准确的信息，但不能保证所称述的内容在今后任然可以适用。转发该文内容请注明出处。

By Zoe Ma @ Pitt Martin Tax

The last few years have been marked by economic and political uncertainty. As we just entered into 2025, there is cautious optimism for increased stability—though no guarantees. Below, we explore the key developments and challenges businesses and individuals can anticipate.

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Federal Election: Political Advertising Resumes

With a federal election on the horizon, prepare for an influx of political messages across social media, voicemail, and TV. Opposition parties will question if Australians are better off, while incumbents will emphasize their achievements.

The 2025-26 Federal Budget is set to be delivered on 25 March 2025, suggesting the election will occur in either March or May 2025, but no later than 17 May 2025.

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Legislative Uncertainty: Key Bills in Limbo

The final parliamentary sitting day of 2024 saw 32 bills passed, including several with implications for businesses and individuals. However, two significant proposals remain unresolved:

1. Division 296 Tax: 30% on Super Earnings Over $3 Million

The proposed Division 296 tax would impose a 30% tax rate on earnings from superannuation balances exceeding $3 million, starting 1 July 2025. Currently, the enabling legislation is stalled in the Senate and unlikely to pass before the election. If the bill lapses, the next government will determine whether to revisit or abandon the measure.

2. $20,000 Instant Asset Write-Off for Small Businesses

The government proposed extending the $20,000 instant asset write-off for eligible small businesses for the 2024-25 financial year. However, this measure was unexpectedly removed from the final enabling legislation. Without this extension, the write-off threshold will revert to $1,000, creating uncertainty for small businesses planning asset investments.

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Tax and Superannuation Changes

1. Foreign Resident Capital Gains Withholding (FRCGW)

From 1 January 2025, changes to capital gains withholding will apply to foreign residents selling Australian property:

• The withholding rate will increase from 12.5% to 15%.
• The value threshold (currently $750,000) will be removed, applying the withholding to all property sales by foreign residents.

The reforms will affect property acquisitions made on or after 1 January 2025.

2. Superannuation Guarantee Increase

The Superannuation Guarantee (SG) rate will rise from 11.5% to 12% on 1 July 2025, marking the final step in the legislated increase.

3. Superannuation on Paid Parental Leave

From 1 July 2025, superannuation contributions (12% of Paid Parental Leave payments) will be paid to eligible parents’ super funds.

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Economic Outlook: Interest Rates and Cost of Living

Interest Rates

While inflation eased from 5.4% to 2.8% over the year to September 2024, the Reserve Bank of Australia (RBA) remains cautious. Governor Michele Bullock emphasized the need for sustainable inflation levels within the 2-3% target range before rate cuts occur. Forecasts for interest rate reductions vary:

• CBA: February 2025
• ANZ and Westpac: May 2025
• NAB: June 2025

Cost of Living Pressures

Australia’s economic growth remains sluggish, with just 0.8% growth through 2024—the lowest since the December 2020 quarter. Personal income tax cuts and energy subsidies have provided some relief, but rising mortgage costs continue to strain households. Government spending remains a key driver of economic activity.

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International Developments: The Trump Effect

Donald Trump has been inaugurated as U.S. President on 20 January 2025, with the Republican Party controlling both the Senate and the House. Trump’s proposed policies, including tariffs on imports from China, Canada, and Mexico, raise concerns of a trade war. Key statements include:

• A 25% tariff on goods from Canada and Mexico.
• An additional 10% tariff on Chinese imports.

For Australia, these policies could have a secondary impact, given China’s significance as Australia’s largest trading partner, accounting for 26% of two-way trade in 2023. A slowdown in China’s economy may negatively affect Australia’s economic growth. The immediate result has been a decline in the AUD/USD, currently hovering around 63c.

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Environmental Policy: New Car Emissions Standards

From 1 January 2025, vehicle manufacturers will face mandatory CO2 emissions targets for new cars. These targets will gradually tighten over time, requiring manufacturers to produce more fuel-efficient or zero-emission vehicles.

While manufacturers can still sell any type of vehicle, they must balance less efficient models with more fuel-efficient ones. Suppliers who meet or exceed their targets will earn credits, while those who fall short will have two years to either trade credits or generate them before facing penalties.

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Workplace Changes: Wage Theft Criminalised

Effective 1 January 2025, intentional underpayment of wages or superannuation will become a criminal offence. Employers face penalties if they intentionally fail to pay required amounts under the Fair Work Act or relevant agreements.

• Penalties: Fines up to three times the underpayment amount or a maximum of $7.825 million.

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Transitioning Away from Cheques

The government has outlined a plan to phase out cheques:

• Cheques will no longer be issued after 30 June 2028.
• Cheques will no longer be accepted after 30 September 2029.

Usage of cheques has declined by 90% in the last decade, and banks have already begun discontinuing chequebooks for new customers. Despite this transition, cash remains an essential payment method.

Cash Remains Essential

While Australians increasingly use digital payments, the government has emphasized the importance of cash:

• 1.5 million Australians rely on cash for over 80% of in-person payments.
• Cash provides a backup during digital outages or natural disasters.

The government intends to mandate that businesses accept cash for essential items, with certain exemptions for small businesses.

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Final Thoughts: Slow and Steady Progress

2025 promises measured changes in tax, superannuation, and economic policy, along with ongoing political and international challenges. While the path toward stability remains uncertain, businesses and individuals should prepare for key transitions in legislation, workplace regulation, and global trade conditions.

Pitt Martin Group is a CPA accounting firm, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Australian Society of Certified Practising Accountants (CPA), Australian Taxation Registered Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

与美国相比，澳大利亚以保持更公平的教育方式而自豪，因为美国接受高等教育的机会往往取决于经济状况。平均学生债务数字反映了这一明显差异。在美国，学生债务平均每人 37,693 美元，需要长达 20 年的时间才能偿还。尽管如此，许多美国学生仍面临着贷款无法完全解决的资金缺口。

相比之下，澳大利亚国内学生则受益于结构更合理、更方便的贷款制度，主要是通过 HECS-HELP。在澳大利亚，获得学士学位的费用通常在 20,000 澳元至 45,000 澳元之间，但某些高价值课程（如医学）的费用可能会超过这一范围。符合条件的学生可获得 HECS-HELP 贷款，大多数学位的学费最高可达 121,844 澳元，医学和牙医等课程的学费最高可达 174,998 澳元。

目前，约有 300 万澳大利亚人背负着高等教育学生债务，总额超过 810 亿澳元。每个学生的平均债务约为 27,000 澳元，还款期一般为八年多一点。超过 7,000 名澳大利亚人的贷款超过了 100,000 澳元。

当前HECS-HELP 的还款条款

当个人收入达到 54,435 澳元时，开始偿还HECS-HELP 贷款。还款率随着收入的增加而逐渐增加，从1%开始，对于年收入在159,664澳元或以上的人，还款率最高可达10%。

对 HECS-HELP的修改计划

澳大利亚政府对高等教育援助项目贷款进行了一系列改革，旨在解决对不断增加的债务和偿还负担的关切。虽然这些变化尚未成为法律，但它们提出了重大改进：

• 指数化调整：HECS-HELP贷款的指数化率将以消费者价格指数（CPI）或工资价格指数（WPI）中较低的一个来计算，而不是目前的基于CPI的计算。这一变化旨在追溯至2023年6月1日，将消除2023年7.1%的增幅。
• 提高还款门槛： 从 2025-26 年起，最低还款收入门槛将提高到 67,000 澳元。此外，还款将只适用于收入超过这一门槛的部分，而不是整个年收入。
• 贷款扣减： 在 2025 年 6 月 1 日之前，所有未偿还的学习和培训支持贷款都将减少 20%。这项措施将减轻约 160 亿澳元的债务。

HECS-HELP的贷款还款可否抵税

虽然拟议的修改计划旨在减轻借款人的负担，但关于HECS-HELP的贷款还款是否应抵税的争论仍在继续。与其他形式的债务（如商业或投资贷款）不同，尽管教育通常是对个人收入潜力的一种投资，但HECS-HELP所贷款的还款不符合减税条件。

允许HECS-HELP还款的税收减免可以为借款人、特别是中等收入阶层的借款人提供即时的经济救济。这将激励个人更快偿还贷款，从而有可能降低整体债务水平。此外，减税将符合鼓励技能获取和劳动力发展的原则，这将有利于更广泛的经济。

平衡制度

在澳大利亚，围绕学生贷款的讨论反映了人们对教育的可负担性、可获得性和公平性的广泛关注。虽然与其他国家的制度相比，澳大利亚高等教育分担费用计划–助学贷款提供了大量支持，但不断增长的债务总额和还款挑战表明仍有改进的余地。

通过实施指数化改革、提高门槛以及可能引入税收减免等改革措施，澳大利亚可以进一步加强其高等教育资助体系，为学生和毕业生提供更有效的支持。这些改革将确保教育继续成为通向机遇的途径，而不是终身的经济负担。

皮特马丁会计师事务所 Pitt Martin Group 是一家提供税务，会计，生意咨询, 自管养老金及审计的贷款等综合性服务的经澳洲会计师公会认证的注册会计师事务所。我们每年会花上几百个小时去研究新的税法，以保证我们的客户可以最大化合理避税。我们的中文联系方式是 Robert Liu +61292213345 或邮件 info@pittmartingroup.com.au。皮特马丁会计师事务所Pitt Martin Group坐落在交通便利的悉尼市市中心，是一家拥有可以说中文合伙人的会计师事务所。我们的荣誉包括2018年CPA新州首席优秀奖， 2020年澳大利亚小生意年度冠军入围奖, 2021年澳洲知名媒体《每日会计师》年度最佳会计师事务所冠军入围奖，2022年最佳会计师事务所新人入围奖和2023香港澳大利亚商业协会最佳积极生意入围奖。

皮特马丁会计师事务所 Pitt Martin Group资质包括超过十五年的从业经验，澳大利亚注册会计师协会（CPA）执业认证会员，澳大利亚税务注册代理，新州、维州和西澳律师协会信托账户 (Trust Account) 认证审计师，澳大利亚金融贷款经纪人协会（FBAA）执业认证会员，澳大利亚证券及投资委员会注册代理，XERO, QUICKBOOKS, MYOB等会计软件授权单位及认证顾问。

本文内容仅供参考，不构成对任何个人或团体的具体情况而形成建议。任何个人或团体应该在征求专业人士的意见后方可采取行动。由于税法的时效性，我们在发布时已致力于提供及时、准确的信息，但不能保证所称述的内容在今后任然可以适用。转发该文内容请注明出处。

By Zoe Ma @ Pitt Martin Tax

Australia prides itself on maintaining a more equitable approach to education compared to the United States, where access to higher education often depends on financial circumstances. The stark difference is reflected in the average student debt figures. In the US, student debt averages USD $37,693 per person and can take up to 20 years to repay. Despite this, many US students face gaps in funding that loans cannot fully address.

In contrast, Australian domestic students benefit from a more structured and accessible loan system, primarily through HECS-HELP. The cost of obtaining a bachelor’s degree in Australia typically ranges from $20,000 to $45,000, though certain high-value courses like medicine can exceed this range. HECS-HELP loans are available for eligible students, covering tuition fees up to $121,844 for most degrees and $174,998 for courses like medicine and dentistry.

Currently, around 3 million Australians carry higher education student debt, which collectively exceeds $81 billion. The average debt per student is approximately $27,000, and repayment typically spans a little over eight years. More than 7,000 Australians have loans surpassing $100,000.

Current HECS-HELP Repayment Terms

Repayment for HECS-HELP loans starts when an individual’s income reaches $54,435. The repayment rate scales progressively with income, beginning at 1% and peaking at 10% for those earning $159,664 or more.

Proposed Changes to HECS-HELP

The Australian Government has introduced a series of reforms to HECS-HELP loans aimed at addressing concerns over rising debt and repayment burdens. While these changes are not yet law, they propose significant improvements:

1. Indexation Adjustments: The indexation rate for HECS-HELP loans will be the lower of the Consumer Price Index (CPI) or Wage Price Index (WPI), instead of the current CPI-based calculation. This change, intended to be backdated to 1 June 2023, would eliminate the 7.1% increase applied in 2023.
2. Higher Repayment Threshold: From 2025-26, the minimum income threshold for repayments will increase to $67,000. Additionally, repayments will only apply to the portion of income exceeding this threshold, not the entire annual income.
3. Loan Reductions: A 20% reduction will apply to all outstanding study and training support loans before 1 June 2025. This measure would alleviate around $16 billion in debt.

Deductibility of HECS-HELP Loan Repayments

While the proposed changes aim to reduce the burden on borrowers, there is ongoing debate about whether HECS-HELP repayments should be tax-deductible. Unlike other forms of debt, such as business or investment loans, HECS-HELP repayments do not qualify for tax deductions, even though education often serves as an investment in an individual’s earning potential.

Allowing tax deductibility for HECS-HELP repayments could provide immediate financial relief for borrowers, particularly those in middle-income brackets. It would incentivize individuals to repay loans sooner, potentially reducing overall debt levels. Moreover, tax-deductibility would align with the principle of encouraging skill acquisition and workforce development, which benefits the broader economy.

Balancing the System

The discussion around student loans in Australia reflects broader concerns about affordability, accessibility, and equity in education. While HECS-HELP provides substantial support compared to systems in other countries, the growing total debt and repayment challenges indicate room for improvement.

By implementing reforms such as indexation changes, higher thresholds, and potentially introducing tax deductibility, Australia could further enhance its higher education funding system to support students and graduates more effectively. These changes would ensure that education remains a pathway to opportunity rather than a lifelong financial burden.

Pitt Martin Group is a CPA accounting firm, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Australian Society of Certified Practising Accountants (CPA), Australian Taxation Registered Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

未来几个月，我们会探讨财产继承的各个方面，如遗产规划、遗产处理和商业继承。本月，我们将重点关注财产继承的税务影响–如果处理不当，可能会产生重大的财务后果。

除了分割资产带来的情感和后勤方面的挑战外，了解财富如何流向受益人的税务后果也至关重要。根据资产的类型和受益人的纳税情况（如是否为澳大利亚税务居民），税收结果可能会有很大的不同。

继承现金

当现金从过世者转入其遗产，然后分配给受益人时，只要资金是澳元，一般不会产生税务问题。这种情况下的现金转移通常比较简单，不会引发资本利得税（CGT）。

继承资产

在税务领域，过世通常被视为 “应税事件”。当资产的所有权因过世而发生变化时，通常会引发 “CGT ”事件。不过，澳大利亚税法在某些情况下提供减免。在大多数情况下，因过世而产生的资本利得或损失将不予考虑，除非该资产被转移至：

• 免税实体（有一些例外情况，特别是如果该实体是具有可抵扣赠与接受者地位的慈善机构）
• 合规养老基金的受托人，或
• 外国实体，前提是该资产不被视为 “澳大利亚应税财产”

只要资产转交给过世者的法定个人代表（如遗嘱执行人）或受益人（不属于上述实体），资产转让在死者去世时就免征增值税。但是，一旦受益人决定出售资产，任何资本收益或损失都要纳税。

继承股票

假设，您根据母亲的遗嘱继承了在澳大利亚证券交易所（ASX）上市的股票投资组合。这些股票的税务处理将取决于以下因素：您母亲过世时是否为澳大利亚税务居民，以及这些股票是在 1985 年 9 月 20 日（CGT 开始实施）之前还是之后购买的。

• CGT之后的股票： 如果您母亲是澳大利亚税务居民，并在CGT规则出台后购买了股票，那么股票的成本基础通常是原始购买价格。例如，如果她在 1997 年 1 月 2 日以 17.82 澳元的价格购买了必和必拓的股票，那么当您最终出售股票时，该价格将成为计算收益或损失的成本基础。
• CGT 之前的股票： 如果股票是在 1985 年 9 月 20 日之前购买的，则成本基础将重设为死亡当日的市场价值。例如，如果您的母亲于 2024 年 10 月 1 日去世，而股票价格为 45.96 澳元，则该价格将成为您的纳税成本基础。
• 非居民身份： 如果您母亲去世时是非居民纳税人，那么成本基数通常是过世时股票的市场价格。

管理继承的股票可能具有挑战性，因为其价格和构成可能会随着时间的推移而波动。最初的小额投资组合可能会大幅增值，因此进行适当的税务规划至关重要。

继承房产

现在，假设您从父亲的遗产中继承了澳大利亚的一处住宅房产。就CGT而言，您被视为在父亲去世之日获得该房产。在许多情况下，房产的成本基础是可继承的，这意味着它是基于您父亲最初购买房产时的价格。但是，在引入CGT制度之前购置的房产、以及作为您父亲主要住所的房产，处理方式会有所不同。

特殊规则允许受益人在继承房产时获得全部或部分主要住所免税。如果您父亲的房产在他过世时是他的主要住所，并且没有用来产生收入（即没有出租或用于商业目的），那么遗嘱执行人或受益人在以下任一条件下都有资格获得全部的CGT豁免：

• 房屋在您父亲去世后两年内售出，或
• 在出售房屋之前，该房屋一直是未亡配偶或其他符合条件的个人（如根据遗嘱有权占用该房产的人）的主要住所。

例如，如果该房屋是您父亲的主要住所，并在两年内出售，则不适用 CGT。如果您选择在以后出售房屋，例如在继承房屋 10 年后出售，那么CGT的处理将取决于在这 10 年中该房产的使用情况。

在某些情况下，如遗嘱有争议或情况复杂，导致房产出售延迟，则可延长两年规则。

如果您的父亲不再居住在该房产中，但根据 “缺席规则 ”继续将其视为主要住所（例如，如果他搬到了养老院），那么CGT豁免可能仍然适用。

如果您父亲是非居民纳税人，除非有不同的规定，否则用于计算CGT的成本基础通常是他过世时房产的市场价格。

继承外国财产

如果您是澳大利亚居民，从非居民处继承了国外房产（例如，从英国亲戚处继承了一栋房子），那么用于纳税的成本基础通常是房产在死亡时的市场价格。如果您出售房产并获得收益，则将适用澳大利亚的CGT规则，尽管CGT折扣可能低于 50%。此外，如果收益也在海外被征税，则可以使用国外已缴税金抵消来减少在澳大利亚的应纳税额。

遗产税的复杂性

资产继承很容易就会变得复杂，尤其是涉及多种类型的资产，或者涉及外国税收规则时。要确保您和您的受益人能够有效地处理这些问题，适当的遗产规划和对遗产继承的税收后果的了解至关重要。如需有关遗产规划或继承财产的税务影响的个性化建议，请随时联系我们寻求专业帮助。

皮特马丁会计师事务所 Pitt Martin Group 是一家提供税务，会计，生意咨询, 自管养老金及审计的贷款等综合性服务的经澳洲会计师公会认证的注册会计师事务所。我们每年会花上几百个小时去研究新的税法，以保证我们的客户可以最大化合理避税。我们的中文联系方式是 Robert Liu +61292213345 或邮件 info@pittmartingroup.com.au。皮特马丁会计师事务所Pitt Martin Group坐落在交通便利的悉尼市市中心，是一家拥有可以说中文合伙人的会计师事务所。我们的荣誉包括2018年CPA新州首席优秀奖， 2020年澳大利亚小生意年度冠军入围奖, 2021年澳洲知名媒体《每日会计师》年度最佳会计师事务所冠军入围奖，2022年最佳会计师事务所新人入围奖和2023香港澳大利亚商业协会最佳积极生意入围奖。

皮特马丁会计师事务所 Pitt Martin Group资质包括超过十五年的从业经验，澳大利亚注册会计师协会（CPA）执业认证会员，澳大利亚税务注册代理，新州、维州和西澳律师协会信托账户 (Trust Account) 认证审计师，澳大利亚金融贷款经纪人协会（FBAA）执业认证会员，澳大利亚证券及投资委员会注册代理，XERO, QUICKBOOKS, MYOB等会计软件授权单位及认证顾问。

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By Zoe Ma @ Pitt Martin Tax

Each month, we will explore various aspects of transferring property, such as estate planning, handling inheritances, and business succession. This month, let’s focus on the tax implications of inheriting assets—an area that can have significant financial consequences if not handled properly.

Beyond the emotional and logistical challenges of dividing assets, it’s critical to understand the tax consequences of how your wealth will flow to your beneficiaries. Depending on the type of asset and the tax status of the beneficiary—such as whether they are an Australian resident—the tax outcome can vary significantly.

Inheriting Cash

When cash is passed from the deceased to their estate, and then distributed to beneficiaries, there are generally no tax implications, provided the funds are in Australian dollars. Cash transfers in this context are typically straightforward and do not trigger capital gains tax (CGT).

Inheriting Assets

In the world of taxation, death is often considered a “taxing event.” When ownership of an asset changes due to death, it usually triggers a CGT event. However, Australian tax law offers relief under certain conditions. In most cases, capital gains or losses resulting from a death are disregarded unless the asset is transferred to:

• An exempt entity (with some exceptions, particularly if the entity is a charity with deductible gift recipient status),
• A trustee of a complying superannuation fund, or
• A foreign entity, assuming the asset is not considered “taxable Australian property.”

As long as the asset is passed to the deceased’s legal representative (e.g., the executor) or a beneficiary, who is not one of the entities listed above, the asset transfer is exempt from CGT at the time of death. However, once the beneficiary decides to sell the asset, any capital gains or losses become taxable.

Inheriting Shares

Let’s say you inherit a share portfolio listed on the Australian Stock Exchange (ASX) under your mother’s will. The tax treatment of those shares will depend on factors like whether your mother was an Australian resident for tax purposes at the time of her death and whether the shares were purchased before or after 20 September 1985 (the introduction of CGT).

• Post-CGT shares: If your mother was an Australian tax resident and acquired the shares after the CGT rules were introduced, the cost base of the shares is typically the original purchase price. For example, if she purchased BHP shares for $17.82 on 2 January 1997, that price would be the cost base used to calculate your gain or loss when you eventually sell the shares.
• Pre-CGT shares: If the shares were acquired before 20 September 1985, the cost base is reset to the market value at the date of death. For instance, if your mother passed away on 1 October 2024, and the shares were valued at $45.96, that price would be your cost base for tax purposes.
• Non-resident status: If your mother was a non-resident for tax purposes when she died, the cost base is usually the market value of the shares at the time of death.

Managing inherited shares can be challenging as their value and composition can fluctuate over time. What starts as a small portfolio may grow significantly in value, making proper tax planning essential.

Inheriting Property

Now, imagine you inherit a residential property in Australia from your father’s estate. For CGT purposes, you are deemed to have acquired the property on the date of his death. In many cases, the cost base of the property is inherited, meaning it’s based on the value when your father originally purchased it. However, the treatment differs for properties acquired before the CGT regime was introduced and for a property that was your father’s primary residence.

Special rules allow beneficiaries to access a full or partial main residence exemption on inherited properties. If your father’s home was his main residence at the time of death, and it wasn’t used to generate income (i.e., not rented or used for business purposes), the executor or beneficiary might qualify for a full CGT exemption under either of these conditions:

• The house is sold within two years of your father’s death, or
• The house remains the main residence of a surviving spouse or other qualifying individuals (such as someone who had the right to occupy the property under the will) until the house is sold.

For example, if the house was your father’s primary residence and sold within two years, no CGT would apply. If you choose to sell the house later, say 10 years after inheriting it, the CGT treatment will depend on how the property has been used during those 10 years.

An extension to the two-year rule can apply in certain situations, such as if the will is contested or complicated, delaying the sale of the property.

If your father was no longer living in the property but continued to treat it as his main residence under the “absence rule” (e.g., if he moved to a retirement village), the CGT exemption may still apply.

If your father was a non-resident for tax purposes, given the proeprty was purchased at post-CGT period, the cost base for CGT purposes is usually inheriting the acquiring price when your father purchased it.

Inheriting Foreign Property

If you are an Australian resident inheriting foreign property from a non-resident (for example, a house from a relative in the UK), the cost base for tax purposes will generally be the market value of the property at the time of their death. If you sell the property and a gain arises, the Australian CGT rules will apply, though the CGT discount may be less than 50%. Additionally, if the gain is also taxed overseas, a foreign tax offset may be available to reduce the amount of tax payable in Australia.

The Complexity of Inheritance Taxation

Inheriting assets can quickly become complex, especially when multiple types of assets are involved, or if foreign tax rules come into play. Proper estate planning and an understanding of the tax consequences of inheritance are essential to ensuring that you and your beneficiaries can navigate these issues effectively. For personalized advice on the tax implications of inheriting property, feel free to reach out for professional assistance.

Pitt Martin Group is a CPA accounting firm, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Australian Society of Certified Practising Accountants (CPA), Australian Taxation Registered Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax