Are you dealing with complex tax or superannuation issues? Feeling a bit lost or overwhelmed? Don’t worry; you’re not alone. Many people face tricky legal questions in these areas, and that’s where barristers come in handy. Let’s break it down. What’s a Barrister? Think of them as legal specialists. They’re experts in giving advice and … Continue reading Why You Might Need a Barrister for Tax and Super Matters
Good news for those planning for retirement! Starting July 1, 2024, there will be an increase in superannuation contribution caps, making it easier for you to save more for your future. What are contribution caps? Contribution caps are limits the government sets on how much money you can add to your superannuation each year. There … Continue reading Super Contribution Caps to Increase in July 2024: What You Need to Know
Are you considering selling your small business? If so, understanding the ins and outs of Capital Gains Tax (CGT) small business concessions could save you significant money. In this guide, we’ll break down the essential information you need to know, including how to leverage the CGT small business rollover for maximum tax benefits. First off, … Continue reading A Guide to CGT Small Business Rollover
Introduction: The Australian government’s recent approval of Stage 3 tax cuts brings about exciting opportunities for taxpayers to make permanent savings. By understanding the changes and strategic planning, individuals can benefit from reduced tax rates starting July 1, 2024. Overview of Stage 3 Tax Cuts: The key changes include lowering the 19% tax rate to … Continue reading Seizing the Stage 3 Tax Cuts: A Guide to Permanent Savings
Introduction: In a perfect world, banks would always do right by us, giving good advice and being transparent. But sometimes, they mess up. When this happens, regulators step in to fix things and compensate those who get hurt. If you find yourself getting money back from your bank, you might wonder if you have to … Continue reading Making Sense of Taxes on Money You Get Back from Your Bank
Introduction: In the world of superannuation, Stapled Super Funds have changed the game, making things simpler for employers and employees. Let’s break down what you need to know about Stapled Super Funds and how they affect your money. Understanding Stapled Super Funds: In the past, changing jobs often meant dealing with different super accounts and … Continue reading The World of Stapled Super Funds
Introduction: Depreciation can be a tricky topic for business owners, especially when it involves different rules and thresholds. But in Australia, the tax office (ATO) has introduced some helpful incentives to make things simpler. These incentives can help businesses lower their taxable income and pay less in taxes. This guide breaks down the key incentives: … Continue reading Business Owner’s Guide to Australian Tax Depreciation Incentives
Introduction: Investing wisely in a Self-Managed Super Fund (SMSF) requires careful consideration of asset choices to ensure compliance with super laws and the best financial interests of fund members. Recently, the Australian Taxation Office (ATO) has shed light on the classification of pink diamonds within SMSF investments. In this blog post, we’ll explore whether pink … Continue reading Shining Bright in Your SMSF: Pink Diamonds as Investment Assets
Introduction: In the dynamic landscape of not-for-profit (NFP) organisations, understanding the intricacies of income tax exemptions is crucial for financial sustainability. This blog aims to shed light on the factors that determine whether your NFP is exempt from income tax, the various types of exempt organisations, and the steps involved in assessing your eligibility. Determining … Continue reading Income Tax Exemptions for Not-for-Profit Organisations
Introduction: Investing in managed investment trusts can be a smart financial move, but understanding the tax implications is crucial. This blog will guide you through the complexities of managed investment trusts, covering topics such as trust income, losses, deductions, and capital gains. Let’s unravel the mysteries surrounding these financial instruments. Types of Managed Investment Trusts … Continue reading The Secrets of Managed Investment Trusts
