This non-exhaustive checklist is designed to provide an easy reference guide to the types of deductions that might be claimed by businesses. Note that these deductions may not necessarily be available, and before deciding on the deductibility of an outgoing,…
The make-up of the investment portfolios of SMSF investors has been transformed over the year since March last year. The just-released SuperConcepts Investment Patterns Survey to the end of March 2016 shows that SMSF exposure to property has increased to…
Hiring older workers? The Restart program explained The Restart program is a wage subsidy paid to employers that aims to assist mature age people participate in the workplace by encouraging employers to take on workers 50 years of age or…
Nearly 80% of recently established self managed superannuation funds (SMSFs) operate under an individual trustee structure rather than a corporate trustee arrangement, according to statistics released by the ATO. Although the latter is the less utilised option, does that mean…
Trust structures and their use can often be misunderstood – we demystify some of the jargon. Why use a trust? Trusts are commonly used to protect assets, as property and other assets that are held by a trust have a…
How will the multinational “diverted profits tax” work? The concern about large multinational companies artificially sending profits offshore to dodge paying Australian tax had in the recent past been dubbed with a name associated with the practice. The expected “Google”…
The end of the financial year is not all that far away. To help you to prepare for tax time, we provide our top 7 tips for your 2015-16 tax return. This list is not exhaustive, and we will need…
The current financial year is almost at an end, and with an election to be held two days later the recently announced federal budget measures will of course have no chance to take effect until some time into the next…
The budget has a few sweeteners, but not so much that will turn anyone hyperactive. The welcome news is that the turnover threshold for classifying a “small business entity” will increase from $2 million to $10 million. This will allow…
As the Australian population ages, and retirees become either fully or partially reliant on their own retirement savings instead of the government pension, the ability to manage those funds may be affected by one of the possible downsides of a…