Around 11,000 Australians invested about $1.1 billion of their retirement savings in the Shield and First Guardian Master Funds. These two managed investment schemes collapsed, costing investors their savings. Some investors have been compensated by their platform provider. However, … Read Full Story
What the rules already allow It has been proposed that people who pay rent or have a mortgage be allowed to divert a quarter of their future super contributions into take-home pay for up to three years. Employers would … Read Full Story
If you worked overseas before settling here, you may still have money in a foreign retirement scheme. If the ATO recognises the scheme as a ‘foreign super fund’ you may be able to transfer it into an Australian super … Read Full Story
A recent Federal Court decision once again outlined the importance of determining a person’s residency status for tax purposes – and moreover how difficult that may be. And that it may not just be a matter of having lived … Read Full Story
Under the big tax changes announced in the May Budget, and now law, the generous 50% CGT discount will no longer apply from 1 July 2027 and will be replaced by the inflation-based “indexation” (except in limited circumstances). However, … Read Full Story
After the September 11 attacks on the World Trade Center in New York in 2001, it was understood that intelligence and security authorities around the world dramatically increased their technological and detection capabilities. And, apparently, not long after, many … Read Full Story
Since 10 August 2026, SMSFs can no longer use a Limited Recourse Borrowing Arrangement (LRBA) to acquire residential property. Existing arrangements are grandfathered, and borrowing to acquire business real property is not affected. Co-ownership may be a solution for … Read Full Story
Everyone loves a work-related deduction. From the 2026-27 income year there is a standard deduction of up to $1,000 for work-related expenses, and it applies automatically. This will simplify things for many. However, if your claims exceed $1,000 you … Read Full Story
Government concession cards, including the Commonwealth Seniors Health Card, Pensioner Concession Card, Health Care Card and state-based Seniors Cards, can save you a lot. They cut the cost of healthcare, prescriptions and everyday bills. Several rates and thresholds affecting … Read Full Story
There has been a lot of talk in the media about the government’s new “widow tax” following the Budget brought down earlier in the year. By way of background the Budget saw the abolition of negative gearing for properties … Read Full Story
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