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Foreign Investors buying Australian Residential property

Australian residential property has always been popular for overseas investors looking for return and stability. To arrange the purchase of Australian residential property is not difficult, as long as you rely upon appropriate professional advice at different points in the process. It is absolutely necessary that you do meet the Foreign Investment Review Board (FIRB) requirements and seek appropriate approval for any purchase:

As Temporary residents

A temporary resident is a person who is residing in Australia and:
  • Holds a temporary residency visa which permits them to stay in Australia for a continuous period of more than 12 months (regardless of how long remains on the visa); or
  • Has submitted an application for permanent residency and holds a bridging visa which permits them to stay in Australia until that application has been finalized.
Temporary residents can purchase one...

May – 2014 Practice Update

May - 2014 Practice Update covers following points - - Tax amnesty for overseas tax dodgers – Project 'DO IT' - ATO takes over Super Clearing House - ATO data matching projects - Tax Commissioner’s proposed 'remedial power' - Federal Court overturns AAT excess contributions decision - ATO's new initiative to resolve tax disputes Click here for - May 2014 Practice Update...

Business Due Diligence: The Know-how of it!

Buying a business requires a lot of probing and you have to ensure that the company's affairs are in perfect order before the purchase is finalised. For this purpose, a business due diligence is normally performed 60 to 90 days prior to settlement. A business due diligence is underway once a prospective buyer and the seller sign a letter of intent, which is often referred to as a term sheet. This is the agreement allowing access to business data, including the financials and sales figures. A business due diligence must be carried out effectively and the following points are crucial to achieve your goal: 1. Hire professionals You must hire professionals who are very well skilled in analysing businesses and can help you perfectly with the business due diligence process. For this role, your accountant is most of...
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