For most family businesses as well as private groups, succession planning (sometimes known as transition planning) involves considerations around the eventual sale of your business, or the passing of control of it to other family members when you retire. … Read Full Story
Following the ATO’s claims that nine out of ten residential rental property investors who have been audited have been getting their returns wrong, it might be worth touching on some of the tax traps and pitfalls to be wary … Read Full Story
Are you planning to maximize your superannuation contribution caps this financial year? If so, it’s crucial to get the timing right so your contribution is received by your superannuation fund in the current financial year. Lessons from a recent … Read Full Story
With the temptation for homeowners to cash in on spiralling house prices around Australia, it is important to turn your mind to whether you may only have a partial capital gains tax (CGT) main residence exemption available to you, … Read Full Story
Many of us wonder about the best vehicle to use for our extra savings. Is it better to direct extra savings to your mortgage or superannuation? As with most financial decisions, there is no one-size-fits-all approach as it depends … Read Full Story
If you have had a rental or commercial property damaged by recent summer storms (or bushfires or floods) you may have received a insurance payout to cover the damage. You may be surprised to know that this payout is … Read Full Story
The NSW state Government is attempting to help with the housing affordability crisis by making areas around train stations and shopping centres eligible for rezoning for denser development. It will be important to see your tax adviser if you … Read Full Story
If you own a family company, then it is very important how you receive and treat any payments made from the company to you (or your associates – for example, your spouse). And this is simply because any payment … Read Full Story
What happens from a tax point of view when a person leaves Australia partway through the income year? How is the income they derived before that time taxed? And how is any income they derived after that time taxed … Read Full Story
With the end of financial year fast approaching, now is a great time to boost your superannuation savings and potentially save on tax. Below are six superannuation strategies to consider before 30 June 2024. 1 Use the carry forward … Read Full Story
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