Click here for a pdf version of this article ATO Prioritising Debt Collection As the economy emerges from COVID-19, the ATO is re-focusing on debt collection. During the pandemic, the ATO deliberately shifted its focus away from firmer debt collection…
Did you know you could invest the proceeds of the sale of your family home to your superannuation, depending on your age and circumstances? What is a downsizer contribution? From 1 July 2022, if you’re aged 60 years or older…
The ATO has just updated its guidance around trust distributions made to adult children, corporate beneficiaries and entities that are carrying losses. Depending on the structure of these arrangements, there is a potential that the ATO may take an unfavourable…
Are you a small business owner selling your business or disposing of an active business asset? If so, did you know you might be able to disregard some or all of any capital gain by putting the proceeds into superannuation? …
As we move towards the end of the 2021/22 financial year, there are a number of year-end income tax planning opportunities that may be available to optimise your tax position. Temporary full expensing Are you contemplating asset and equipment purchases?…
Click here for a pdf version of this article 30 June Tax Planning As we move towards the end of the 2021/22 financial year, there are a number of year-end income tax planning opportunities that may be available to optimise…
Thinking about using your SMSF to borrow to invest? SMSF borrowing has become a popular way of maximising retirement savings because it allows you to increase the amount available to invest within your SMSF. SMSFs are generally not allowed to…
Since the SMSF member limits recently increased from four to six, larger families may be considering having one large superannuation fund for all family members. Interestingly, recent ATO statistics tell us that the SMSF population comprises of 24% single-member funds…
Did you know that there are approximately 10 million unintended multiple super accounts, which represents around 35% of all member accounts held by funds? While in some cases this outcome may be intended, more often than not the creation of…
Did you know that lower-income earning individuals who earn less than $450 per month are currently not eligible for superannuation guarantee (SG) contributions from their employer? The $450 per month threshold also applies if an employee has more than one…