SMSF Statistical Report Statistical report: ‘Self-managed super fund statistical report – December 2012′ On 5 February 2013, the Tax Office published the latest statistical reports for the SMSF market. The document provides other statistics in relation to demographics, asset allocation…
State rates: Stamp duty calculators Land tax and stamp duties vary from state to state. To make your job just that little bit easier we have compiled a handy reference table including each state and territory revenue or treasury office,…
Tax in Australia is based on a system of “self-assessment”, which means every taxpayer is required to provide all the information needed to complete a tax return. Under self-assessment, any information you give to the ATO is accepted as being…
Superannuation Income Streams Information sheet: ‘Self-managed superannuation funds – starting and stopping a superannuation income stream (pension)’ Published on 23 January 2013, this information sheet outlines the issues trustees of Self Managed Superannuation Funds (SMSFs) may need to take into account when…
No action on GST threshold, for now The government has ruled out lowering the goods and services tax (GST) threshold for imported goods in the near future with no final decision on the matter, despite Assistant Treasurer David Bradbury signalling…
The taxation of capital gains When you make a bit of money from selling an investment, this will give you a “capital gain”, or to put it a little more succinctly, a capital gain is the difference between the price…
Change in GST laws to reduce compliance costs for small businesses A potential change in laws regarding the goods and services (GST) instalment system will enable small businesses in a net refund position to use the system if they wish.…
Taking out a loan to raise money for an investment is a well-used tactic for many Australians. In fact, borrowing to buy big ticket items is part of financial reality. How many of us could afford to buy a house…
You can judge whether a car is luxury or not, according to the government, if it costs more than $59,133. It’s not an over-the-top outrageous price tag if you’re considering true luxury, but it’s enough to cop an extra tax.…
The Tax Office’s business performance benchmarks provide a snapshot of an average business by providing a measure of costs and income (expressed as a range) that the Tax Office would normally expect a business to report when operating in a…