This link is a great new guide on financial well being for all the women you know, but especially the next generation of (hopefully) financially savvy girls. Suitable for all ages, it covers all the big milestones (good & bad) such as….. Your first job Moving in with your partner and getting married Buying your… Read More Finance for Daughters – and all other women!
SMSFs are a great tool for creating wealth in a tax effective environment and, because of the self managed bit, enabling you to have total control over your investments. However, SMSFs also come with lots of rules that need to be followed, with failure to do so potentially resulting in massive penalties. Make an administrative… Read More How old is too old for an SMSF
Don’t forget that if you have employees you need to give them a PAYG summary for the year by the 14 July & report to the ATO. These should be prepared after the June payroll has been run. The ATO may have already sent you paper forms (they are pink) to complete which you can… Read More PAYG Summaries
Tax planning is always best done throughout the year, rather than in a mad scramble in June. I know the various blogs & newsletters posted over the year have triggered most of you into action already. However, I also know tax planning sometimes gets forgotten. Therefore I have put below some headings and links to prior… Read More Year End 2018 – top tips
New rules this year, for the first time allow anyone to claim concessional super contributions as a tax deduction. This is very exciting. Full details of the changes are in this previous post. However as we near the year end, here is a quick summary of the important bits ……… This will be a useful… Read More Did you forget to Salary Sacrifice?
Another year, another budget and another raft of changes. Remembering that nothing is legislated, and it may all change and be tweeked as it goes through parliament, here is a brief synopsis of the main points of interest. Most of the changes this year are fairly minor, with lots working to eliminate the cash economy and get everyone paying… Read More Budget Update
Low Cost Asset Write Off The $20,000 immediate deduction threshold for assets purchased by businesses with an aggregated turnover of under $10 million ends 30 June 2018. If you are a small business, and eligible to access this deduction, it’s your last chance. So if you NEED plant and equipment there is a argument to… Read More Last Chance for the 20K Deduction
Remember to check out the newsletter page on my website for our regular tax updates. This month includes the tax aspects of Bitcoins – yes contrary to popular belief there are tax ramifications! – and how renting part of your home, through for example AirBNB, will potentially cost you in capital gains on the eventual… Read More Bitcoins & Tax
Will the new Downsizing Super Contribution help ?… Read More Downsize your Parents
Are you living overseas and still have a HECS or HELP debt? Or are your kids overseas with such debts? New rules in 2017 require all non-residents with HELP or HECS debts to let the ATO know, via their mygov account, if they have moved overseas or intend to be away for 183 days in any 12… Read More HELP debt when Overseas