Introduction: Capital Gains Tax (CGT) can be a maze of rules and exceptions, especially when claiming exemptions for main residences. In this blog post, we’ll unravel the intricacies of CGT exemptions, exploring scenarios where individuals might find themselves juggling two main residences and the exceptions that come into play. The Six-Month Overlap: One common scenario … Continue reading Balancing Two Homes For Tax Benefits
Introduction: We’ve all been there—rummaging through drawers, scouring folders, and frantically searching computer files, only to realise that our tax records are nowhere to be found. Whether it’s due to a move, a technological mishap, or the unfortunate aftermath of a natural disaster, the panic that sets in is undeniable. But fear not, for there … Continue reading Tax Troubles: What to Do When Records Go Missing
Introduction: The holiday season is upon us, and while gifts under the tree are delightful, have you considered giving yourself a gift that keeps on giving? Picture this: a super gift that not only doesn’t cost a thing but sets the stage for a financially secure future. Intrigued? Let’s talk about the ultimate super gift … Continue reading The Ultimate Super Gift for Yourself this Christmas
Introduction: As we celebrate my one-year birthday, let’s delve into a crucial topic for everyone, especially as we age: planning for cognitive decline. In Australia, dementia is the second leading cause of death, and it’s essential to be prepared for a time when you may not have the capacity to make important legal or medical … Continue reading Planning for the Future
Introduction: Owning a holiday home can be a dream come true for many Australians, providing a retreat from the hustle and bustle of everyday life. However, when it comes to tax time, holiday homeowners need to navigate the rules surrounding deductions accurately. This blog aims to shed light on the key considerations and questions to … Continue reading Wonderland for Your Holiday Home
In today’s rapidly advancing technological landscape, scams have become increasingly sophisticated, making it crucial for individuals to be vigilant and proactive in protecting themselves. As part of the National Anti-Scams Centre’s annual Scams Awareness Week, we want to empower you to Stop, Think, and Protect against the rising tide of scams, particularly those impersonating trusted … Continue reading A Guide to Recognising and Reporting Scams in Your Digital World
Introduction: In the dynamic landscape of business, understanding and navigating through the intricacies of taxation is crucial. One such essential aspect for businesses is the Goods and Services Tax (GST). This comprehensive guide aims to shed light on how GST works and the obligations businesses need to fulfil to stay compliant. How GST Works: GST … Continue reading A Comprehensive Guide for Businesses
Introduction: In the dynamic world of employment, many individuals find themselves juggling multiple jobs or experiencing changes in residency status throughout the year. Understanding how to claim the tax-free threshold is crucial to managing your finances efficiently. In this guide, we’ll explore the intricacies of claiming the tax-free threshold in Australia, particularly when dealing with … Continue reading Multiple Jobs and Residency: A Guide to Claiming the Tax-Free Threshold in Australia
Introduction Do you spend money to learn new things and improve your skills? If you do, you might be able to get some of that money back through tax deductions. While tax laws don’t specifically say you can get deductions for learning expenses, some rules help decide if you can or can’t. In this blog, … Continue reading Tax Deductions for Self-Education: What You Need to Know
Introduction Trusts have long been a popular legal and financial instrument for business structuring and asset management. They provide benefits like asset protection, income distribution flexibility, and possible tax advantages. However, recent developments and crackdowns by tax authorities such as the Australian Taxation Office (ATO) have raised concerns about the viability of trusts for business … Continue reading Trusts – Are They Still Worth It? Navigating the Changing Landscape
