Explain That by Velocity Legal

Does the proposed increase to the turnover threshold really make the small business CGT concessions more accessible? From 1 July 2027, the aggregated turnover threshold is proposed to increase from $2 million to $10 million for access to the 50% active asset reduction. But the change is narrower than the headline suggests. The higher threshold does not extend to the 15-year exemption, retirement e...

The proposed 30% minimum tax on discretionary trusts has moved from a Federal Budget announcement to exposure draft legislation, bringing greater detail—and considerably more complexity. In this episode of Explain That, Andrew Henshaw is joined by Velocity Legal director Rajan Verma to examine how the proposed regime would operate, how the trustee-level tax and beneficiary credit would interact wi...

Do you need to pay GST on a one-off property development? For small-scale property developments, GST can materially affect the sale proceeds. A one-off project can still attract GST, and treating a sale on capital account for income tax purposes does not necessarily resolve the GST position. In Part 2 of this two-part series on tax and property development, Andrew Henshaw is joined again by Tom Wa...

Is your property development profit taxed as a capital gain or as income? For small-scale property developments, that distinction can materially change the tax outcome. A one-off development is not automatically treated on capital account, and whether the CGT rules apply can depend on the taxpayer’s intention, the nature of the development and the evidence supporting their position. In Part 1 of t...

What is a heads of agreement, and is it legally binding? Heads of agreement are commonly used at the beginning of a business sale, acquisition or other commercial transaction to record the key terms before a formal contract is prepared. Although they are often treated as preliminary or non-binding documents, poor drafting can create legal obligations, restrict negotiations and affect a party’s pos...

Most taxpayers assume that once the usual amendment period has passed, an old tax assessment is effectively closed. A fraud or evasion opinion can change that. For many taxpayers, the ATO generally has either two years or four years to amend an income tax assessment. But if the Commissioner forms the opinion that there has been fraud or evasion, those ordinary time limits may fall away, allowing t...

What happens when the business you bought is not what you were told it was? Misleading or deceptive conduct is one of the most common causes of disputes following the sale of a business. Whether it involves overstated profits, undisclosed liabilities, the loss of key customers, or inaccurate information provided during the sale process, these disputes can have significant financial consequences fo...

From 1 July 2026, Payday Super will fundamentally change how Australian businesses manage superannuation obligations. In this episode of Explain That by Velocity Legal , Andrew Crellin is joined by tax lawyers Annie Turner and Nick Vegeva to unpack what the Payday Super reforms mean for employers, accountants, and advisers. The discussion covers the shift from quarterly super payments to a seven-b...

In Part 2 of this series on family trust elections and family trust distribution tax (FTDT), Andrew Henshaw is joined by Ani Tuna to examine how FTDT works in practice and why this area has become a major ATO compliance focus. The episode explores the significant tax risks that can arise from invalid family trust elections, historic trust arrangements, interposed entity elections and distributions...

Family trust elections are one of the most misunderstood areas of tax. Originally introduced to deal with trust loss trafficking, family trust elections now affect a much broader range of tax issues, including trust losses, company losses, franking credits and small business restructures. In this first episode of a multi-part series, Andrew Henshaw is joined by Special Counsel Ani Tuna to unpack w...

The ATO’s data matching capabilities have never been stronger. Bank deposits, overseas transfers, crypto transactions and asset purchases all leave a trail. When something does not add up, the burden falls on the taxpayer to explain it. In this episode of Explain That by Velocity Legal , Andrew Henshaw is joined by Rajan Verma to unpack the risks associated with unexplained income and why these ma...

The High Court is expected to hand down its decision in Commissioner of Taxation v Bendel at any time. This case considers whether unpaid present entitlements (UPEs) can be treated as loans under Division 7A — an issue with significant implications for private groups, trust structures and historical arrangements. In this episode of Explain That by Velocity Legal , Andrew Henshaw is joined by Archa...

In this episode of Explain That by Velocity Legal , host Andrew Henshaw is joined by insolvency and restructuring Director Seamus Ryan to unpack what insolvent trading is, how claims arise in practice, and what directors should be doing when a business is under financial pressure. The discussion covers: • What insolvent trading is and when directors can become personally liable • How liquidators a...

International Women’s Day 2026 carries the theme Balancethe Scales, recognising that structural barriers to equality still exist and can be dismantled. In workplaces across Australia, gender discrimination oftendoes not arise from deliberate misconduct. More commonly, it emerges through unconscious assumptions, informal decision-making and workplace practices thatunintentionally disadvantage women...

While incentivising employees with equity can be powerful. It is not plug and play. In this episode of Explain That by Velocity Legal, host Andrew Henshaw is joined by Edward Hart from the Commercial team and Archana Manapakkam from the Tax team to examine the commercial and tax realities of implementing Employee Share Schemes. The discussion covers: Why businesses use Employee Share Schemes to al...

A Binding Financial Agreement can be one of the most effective tools for protecting assets in the event of separation. When drafted properly, it allows couples to decide in advance how property will be divided, rather than leaving the outcome to the discretionary framework of the Family Law Act. In this episode of Explain That by Velocity Legal , host Andrew Henshaw is joined by Thomas Jenkins fro...

This podcast explores the Small Business Restructure Rollover and how it allows eligible businesses to change their structure without triggering immediate income tax consequences.  In this episode of Explain That by Velocity Legal, host Andrew Henshaw is joined by Tyson Bateman from Velocity Legal’s Tax team to unpack when the Small Business Restructure Rollover applies, why it exists, and how it...

This podcast explores how well drafted contracts can prevent business disputes before they arise, rather thansimply managing problems after things go wrong. In this episode of Explain That by Velocity Legal, host Andrew Henshaw is joined by Commercial litigation lawyer, Jess Hill to discuss why many commercial disputes stem from unclear orincomplete contracts, and how careful drafting can reduce r...

This podcast explores why statutory demands are commonly served just before Christmas and how the holiday shutdown can expose businesses to serious insolvency risk. In this episode of Explain That by Velocity Legal , Andrew is joined by Litigation and Insolvency lawyers, Seamus Ryan and Sasha Kenny to discuss: • What a statutory demand is and why it is so powerful• Why the twenty one day response...

You’ve been living with your partner for a while now. You split the bills, share a Netflix account, maybe even have a pet together. But here’s the question: Are you in a de facto relationship – legally? And if so… what does that mean? In this episode of Explain That, Host Andrew speaks with Family Law Director Shannon Hilton and Senior Associate Rohan Kelly about how courts decide whether a de fac...

Even with robust processes in place, Fair Work claims can and do arise. When they land, they are invariably disruptive, time-sensitive and resource-intensive. Employers and their advisers must move quickly, understand the procedural requirements and respond in a way that preserves the organisation’s commercial and reputational position. In this episode of Explain That, Andrew Henshaw is joined by...

Every employer faces it at some point, an employee who just isn’t the right fit. But how you manage that situation can mean the difference between a clean break and a costly claim. In this episode of Explain That , Andrew Henshaw is joined by Employment Lawyers Jess Hill and Katherine Stewart to unpack what every business owner and HR manager needs to know about dismissals, performance management...

Divorce is never simple, but when a business is involved, the stakes rise dramatically. In this episode of Explain That by Velocity Legal, Director of Family Law Shannon Hilton joins host Andrew Henshaw to unpack how family law affects privately owned businesses. They explore what really happens when a business forms part of the asset pool, how valuations are managed, the impact of Division 7A and...

Blended families are now the norm and yet, they are one of the most at risk family structures of costly and exhausting estate disputes.   In this episode of Explain That by Velocity Legal, host Andrew Henshaw is joined by Doyles Guide recognised Director Jennifer Maher and Senior Associate Elisha Raucchi from our Wills, Trusts & Estates team to unpack how to protect your intentions for your es...

In this episode, Andrew Henshaw is joined by Senior Associate Lauren Gross and Associate Daniel Urbans to explore shareholder oppression under s232 of the Corporations Act. They discussed what it means to be “oppressed” as a shareholder, the practical steps to bring a claim, and the likely outcomes in the Victorian Supreme Court’s specialised Shareholder Oppression Programme.  Whether you're navig...