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Using Superannuation To Pay The Mortgage – Is It A Good Idea?
A relationship has been established around superannuation and mortgage debt that could impact the stability of your retirement. As prospective Australian retirees approach their preservation ages and retirement, those who are yet to own their own homes may struggle to...

New Superannuation Laws Around Divorce Evening The Split
Superannuation is one of the major assets that most Australians have in their possession. It’s also often an asset that often gets overlooked during divorce proceedings, especially with its lack of physical presence. During a divorce, it’s important that both parties...

Transferring Your Property To Your Super Fund
Transferring Your Property To Your Super Fund Often superannuation can be a great structure for people to hold their property in. It is usually a lower tax environment and offers protection against bankruptcy. But sometimes, you may feel that a property that you own...

APPLYING FOR A COMPANY DIRECTOR IDENTIFICATION NUMBER
Recent legislation has introduced new obligations for company directors requiring them to obtain a personal director identification number (‘Director ID’). We would like to highlight your new obligations and provide the appropriate information to ensure your ongoing...

Christmas – Employee Gifts and Parties
As the silly season is upon us once again it is probably appropriate to provide some reminders as to the tax consequences of making gifts to and holding Christmas parties for your employees.

DOWNSIZING IN RETIREMENT
Downsizing during retirement can help you reduce costs, and put some more money in your pocket so that you feel more secure about your finances during retirement.Downsizing by selling your property has its advantages and disadvantages which you should evaluate before...

WHAT DOES A WILL INCLUDE
Statistics show that almost half of all Australians die without making a will. But while it may be a difficult subject to discuss, it is a necessary step if you would like to ensure that assets are distributed as you desire. Typically, a will will contain instructions...

RECORD KEEPING TIPS FOR YOUR NEXT TAX RETURN
Did you know that lost receipts are costing 25 per cent of Australian small businesses up to $10,000 a year when it’s tax time, with 8 per cent reporting a loss of up to $100,000 from lost receipts? It’s an outcome from a study released by NAB and Australian fintech...

CHANGES TO PAYROLL TAX FROM JULY 2021 THAT YOU NEED TO KNOW
Payroll tax is a State and Territory tax on wages that you as an employer pay your employees. It is calculated based on the amount of wages that you pay employees Australia-wide per month. There are a number of changes that will have occurred to payroll tax (as...

WHAT TO AVOID WHEN MAKING A CAR RELATED TAX DEDUCTION ON YOUR RETURN
Claiming car-related expenses as tax deductions might seem like the easiest way to get a larger return - but it’s also one of the most carefully monitored. Here are a few tips on what you need to watch out for when claiming car-related deductions. CLAIMING THE COST OF...

Christmas – Employee Gifts and Parties
As the silly season is upon us once again it is probably appropriate to provide some reminders as to the tax consequences of making gifts to and holding Christmas parties for your employees.

DOWNSIZING IN RETIREMENT
Downsizing during retirement can help you reduce costs, and put some more money in your pocket so that you feel more secure about your finances during retirement.Downsizing by selling your property has its advantages and disadvantages which you should evaluate before...

WHAT DOES A WILL INCLUDE
Statistics show that almost half of all Australians die without making a will. But while it may be a difficult subject to discuss, it is a necessary step if you would like to ensure that assets are distributed as you desire. Typically, a will will contain instructions...

RECORD KEEPING TIPS FOR YOUR NEXT TAX RETURN
Did you know that lost receipts are costing 25 per cent of Australian small businesses up to $10,000 a year when it’s tax time, with 8 per cent reporting a loss of up to $100,000 from lost receipts? It’s an outcome from a study released by NAB and Australian fintech...

CHANGES TO PAYROLL TAX FROM JULY 2021 THAT YOU NEED TO KNOW
Payroll tax is a State and Territory tax on wages that you as an employer pay your employees. It is calculated based on the amount of wages that you pay employees Australia-wide per month. There are a number of changes that will have occurred to payroll tax (as...

WHAT TO AVOID WHEN MAKING A CAR RELATED TAX DEDUCTION ON YOUR RETURN
Claiming car-related expenses as tax deductions might seem like the easiest way to get a larger return - but it’s also one of the most carefully monitored. Here are a few tips on what you need to watch out for when claiming car-related deductions. CLAIMING THE COST OF...

SMSF COMPLIANCE
Self-managed super funds are a great place to build wealth because they are taxed at a concessional rate. However, to be eligible for these tax concessions, the SMSF should meet the Australian superannuation legislation. The sole purpose of a super fund, including...

WHAT YOU NEED TO KNOW ABOUT TRANSITION TO RETIREMENT
The transition to retirement (TTR) strategy allows you to access funds from your super account as you work. You should consider opting for this strategy to either supplement your income if you would like to reduce your work hours, or boost your super and save on tax...

CGT DISCOUNT FOR AFFORDABLE HOUSING
An additional 10% capital gains tax (CGT) discount may be available when you sell an Australian residential rental property that you used to provide affordable housing. This move will increase the maximum capital gains discount percentage on your sale from 50% up to...

FINANCIAL PREPARATIONS TO CONSIDER BEFORE DEATH
Preparing for your death is the very last thing that anyone wants to think about. However, taking care of these financial aspects will give you peace of mind and make handling financial affairs easier for your family members. Your partner or other family members...
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