SMSFs vs super wraps
Many people choose to set up self-managed superannuation funds (SMSFs) or wrap accounts as an alternative to retail or industry superannuation funds to gain more control over their investments and reduce fees. SMSFs continue to grow The SMSF sector has experienced exceptional growth over the years now accounting for almost $990 billion or approximately 25% […]
Liability for Super Guarantee payments
There has been a string of recent cases before the Courts and the tribunals about whether someone who pays an amount to another person for services of some kind is liable to make superannuation guarantee charge (SGC) payments in respect of the amount paid to that person. One of the more prominent, and unusual ones, […]
3 important tax changes in 2024 – stamp duty, land tax and payroll tax
In 2024, the State Revenue Office (SRO) announced significant changes to stamp duty for commercial properties, and changes to land and payroll tax as part of the state’s COVID Debt Repayment Plan. We have briefly described these changes below. Please give us a bell if you need more information about how they may impact you. […]
November 2024 Newsletter
This month’s edition of our client newsletter includes an article on whether income from ‘side hustle’ activities are subject to tax. This article provides a brief summary of the types of side hustles that exist, whether such activities are considered a business or a hobby and the tax issues to consider if you’re looking at […]
February 2024 Newsletter
With Christmas a distant memory life, and tax obligations, are returning to a familiar routine. In this issue we look at a variety of tax issues, including a consideration of the tax consequences if you receive compensation when your bank or financial institution hasn’t acted as ethically and correctly as they could have; the tax […]
Selling the family holiday home
There are many considerations when it comes to selling a family holiday home such as pricing, timing, marketing, and even whether to actually sell that special place that may have been full of wonderful family memories. But if you do decide to sell, the capital gains tax (CGT) consequences, and any special rules that may […]
Is that ute really exempt from FBT?
Recent media reports suggest the ATO may have concerns that some tradies could be taking liberties with the FBT exemption available for utes and panel vans where private use is claimed to be minimal. Utes have been selling like hotcakes for some time and are now the biggest selling new cars on the Australian market. […]
Getting the most benefit from fringe benefits
The most cost-efficient benefit an employer can give an employee is one that is both deductible for income tax purposes and exempt from Fringe Benefits Tax (FBT). One such type of benefit is the ‘work-related item’ FBT exemption. Like all concessions, there are some requirements that must be met to take advantage of it. What […]
November 2023 Newsletter
Who can I nominate as my super beneficiary? Your superannuation death benefits must be paid to someone when you die. That somebody will usually be your estate or your nominated beneficiary (also known as your dependants). Download November’s newsletter below for the full article. In the November edition of the Client Newsletter we delve into […]