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
**Self-managed super funds: A suitable path to retirement control?** Self-Managed Super Funds (SMSFs) are a key part of Australia’s superannuation system, offering control over retirement savings.As of March 2025, about 650,000 SMSFs managed $1 trillion in assets – a … Read Full Story
Australia’s Intergenerational Wealth Transfer: What You Should Know Over the next few decades, Australia is expected to witness one of the biggest intergenerational wealth transfers in history with between $3.5 trillion and $5 trillion changing hands as baby boomers … Read Full Story
If you are getting divorced or separated from your spouse, this may involve the transfer of real estate or other assets as part of the settlement of things. Technically, that transfer will trigger capital gains tax (CGT) because there … Read Full Story
Government concession cards Government concession cards, including the Commonwealth Seniors Health Card, Pensioner Concession Card, Health Care Card and state-based Seniors Cards provide significant savings. These cards help you reduce costs on healthcare, prescriptions, and daily expenses, making life … Read Full Story
With Trump’s tariffs causing big sell downs on share markets around the world, it is important to understand a few key things about how capital gains (and capital losses) from the sale of shares are treated for CGT purposes … Read Full Story
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