THE CGT RETIREMENT EXEMPTION CONCESSION: What a boon! If you run a small business and sell it – or some of its asset(s) – and make a capital gain, the CGT “retirement exemption” may be invaluable to reduce or … Read Full Story
Family Trusts – Benefits and Considerations The tax advantages of using a family trust are well known – in particular, the ability to split income among family members so that a lower effective tax rate applies to the income. … Read Full Story
Protecting Your Super from Scammers With more than $4 trillion in superannuation, it’s no surprise scammers see it as a goldmine. ASIC has warned Australians to be on high alert after a rise in pushy sales tactics and false … Read Full Story
What happens if you don’t have a valid will? When someone passes away without a valid will, this is known as intestacy. In this situation, the law in each state and territory sets out a formula for how your … Read Full Story
Many people spend their own money on attending courses that will hopefully make them more employable and maybe earn a higher income. That’s a good thing – a workforce that is more highly skilled can lead to higher productivity, … Read Full Story
If you buy a property in an off-the-plan purchase, there are some important CGT issues to be aware of – especially in the context that an off-the-plan purchase may not actually settle until many months or even years after … Read Full Story
Superannuation is a great way to save for retirement, but the government sets strict limits on how much you can contribute each year. These limits are called contribution caps. If you go over them, you could face extra tax. … Read Full Story
Thanks for all those great ideas – we’ll take it from here. That’s pretty much how last month’s economics/productivity roundtable wound up, with the government firmly in control of what tax policy measures might or might not be introduced … Read Full Story
The tax deductibility of clothing is a topic that often confuses taxpayers, as the rules are specific and nuanced.However, the ATO sets clear guidelines on when clothing expenses can be claimed as tax deductions, and understanding these rules is … Read Full Story
The Treasurer, Jim Chalmers, has convened a Productivity Roundtable for late August, with three main areas of focus – productivity, economic resilience, and budget sustainability. He has sought ideas and proposals from stakeholders, which should be: » in the … Read Full Story
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