From 1 July 2018, people aged 65 and over will be able to sell their main residence and then make a ‘downsizer’ contribution into superannuation of up to $300,000 from the sale proceeds of their main residence. Both members of a couple can take advantage of this...
Leaving your family home and moving to a residential aged care residence can be a challenging time with many personal and financial decisions needing to be made but early planning and good advice can minimise the impact for you and your family. In this article,...
With the end of the financial year fast approaching, now is the perfect time to ensure everything is in place for your SMSF before 30 June. The following are some superannuation strategies that you might want to know more about to get the best out...
The ATO’s recent crackdown on tax deduction claims means that good record keeping is more important than ever. Simple up to date records mean that you can claim ALL the tax deductions you’re entitled to so you’ll never pay too much tax! This guide will provide general advice to...
An SMSF friendly budget is the good news coming out of the 2018-19 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes which took effect from 1 July 2017, this Federal Budget will provide much needed stability while looking to...
The Federal Treasurer, the Hon. Scott Morrison MP, delivered his third Federal Budget on the 8th of May 2018. Like many Australians, we tuned in to find out how the announcement would impact our clients. The Government is pitching a plan to deliver tax relief...
The end of the financial year is a good time to think about how you could grow your super and start saving for retirement. Here are some options you could consider to help growing your super. Contributions which qualify for a tax deduction: Concessional contributions (which include...
The ATO’s ‘Single Touch Payroll’ (STP) initiative will start on 1 July 2018 for many employers — but businesses and their advisers cannot be complacent until then. The next six months is a crucial time for ‘substantial employers’ (≥ 20 employees) to understand how STP will...
Get the latest investment updates and tax information via Tax Wise. What you need to know about the key changes happening right now in the financial world. Investing in Bitcoin? Know the tax implications. . ATO cracking down on your work-related expenses! . Claiming the cost of repairs...