by admin | Dec 12, 2023 | Did You Know, News, Uncategorized
Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season. 1. Keep team gifts spontaneous $300 is the minor benefit threshold for FBT so anything at or above this level will mean that your...
by admin | Feb 15, 2023 | Uncategorized
Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has reduced to 55 from 60, more people have an opportunity to use this strategy if it suits their needs. What’s a ‘downsizer’ contribution? If you are...
by admin | Feb 15, 2023 | Uncategorized
If you have an SMSF with a total balance of less than $1 million, from 1 July 2023 you will need to report quarterly to the ATO instead of annually. Previously, SMSFs with a balance under $1m reported annually at the same time as lodging the SMSF annual return.
by admin | Feb 15, 2023 | Uncategorized
The downside of not taking time out for your strategy is that there is a tendency to keep a short-term focus at an operational level to try and pick quick wins to generate financial returns. Sometimes in the process, this short-term focus undermines longer term value...
by admin | Feb 15, 2023 | Uncategorized
Question: How much capital gains tax does an Australian resident pay on an investment property with a worked example. An Australian resident pays capital gains tax (CGT) on the profit made from selling an investment property. The CGT is calculated by subtracting the...
by admin | Feb 15, 2023 | Uncategorized
Section 100A The tax legislation contains an integrity rule, section 100A, which is aimed at situations where income of a trust is appointed in favour of a beneficiary, but the economic benefit of the distribution is provided to another individual or entity. For...
