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When can you take your super?

When can you take your super?

The cash sitting in your superannuation fund can be tempting, particularly if you are short of cash. But, the reality is there are very few ways you can take advantage of your superannuation once it has been contributed to the fund – even if you change your mind.

Th...

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Company & personal tax changes

Company & personal tax changes

Company tax change in limbo

An issue that many business owners and investors will need to grapple with is uncertainty on the tax rate that applies to companies for the year ended 30 June 2018 and the maximum franking rate on dividends paid during the 2018 inco...

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Your essential end of financial year checklist

Your essential end of financial year checklist

No one wants to pay more tax than they need to or face unnecessary risks. We’ve compiled a list of our top tips for you.

Donate - If you are going to donate to charity, now is the time. Any donations yo...

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What's changing on 1 July 2018?

Individuals

Personal tax bracket changes - The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000*.

Introduction of the Low and Middle Income Tax Offset* p...

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One-off Super Guarantee Amnesty

One-off Super Guarantee Amnesty

Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to “self-correct” under a new amnesty announced late last month.

The ATO estimates that $2.85 billion is currently owed in la...

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CGT and the family home: Expats and foreign residents beware

CGT and the family home: Expats and foreign residents beware

 

The family home of foreign residents and expats may be taxed if legislation before Parliament is passed by the Senate.

If you are a foreign resident living in Australia or an Australian working overseas who owns residential property in Australia, this reform potentially ...

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Tax stats reveal the state of the Australian community

Tax stats reveal the state of the Australian community

 

Every year, the Australian Taxation Office (ATO) compiles the tax data they collect. The recently released 2015-16 ‘tax stats’ encapsulate the data from 16 million income tax returns lodged for the 2016 income year for 13.5 million individuals, 940,000 companies, as well as s...

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New concessional loan fund for farmers experiencing drought

New concessional loan fund for farmers experiencing drought

A new Drought Transport Fund was recently announced by the Minister for Primary Industries, Niall Blair. 

The fund offers eligible farmers a low-interest loan of up to $20,000 to cover 100% of costs (GST exclusive) to transport stock, fodder, or water to/from drough...

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Will your business be audited?

Will your business be audited?

How the ATO identifies audit targets

The ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business ‘looks like’ in different industries. If your business falls outside of those benchmark...

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GST on property developments

GST on property developments

The big changes for developers and purchasers

If a Bill currently before Parliament passes, from 1 July 2018, purchasers of new residential premises or new residential subdivisions will need to remit the GST on the purchase price directly to the ATO as part of the settlement pro...

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