Transition to retirement pensions enable those who are still working to turn their superfund into a tax free pension earlier. The main benefit of this is that the pension fund pays no tax on its income earned or capital gains, enabling it to grow more quickly. The date at which you can turn on a… Read More When Can I start a Transition to Retirement Pension?
Hi Homeowners Thinking of renting your home (or part of it) on AirBNB or some similar website? It should be pretty obvious that the income, less relevant deductible expenses over the period of the let, will be taxable and needs to go on your tax return. However, you also need to be aware that as soon… Read More AirBNB
Dear Employers Just a reminder that in order to ensure you can claim a deduction for employee super you need to pay it on time. If you pay it late. it may not be not deductible as an expense to your business. Additionally there is lots of hideous paperwork required to pay any late super direct… Read More Employee Super is Due
Hi When you have a moment spare, take a look at this month’s tax tips newsletter to be found on the newsletter tab of the website, or by clicking this link. Don’t forget these tax tips newsletters are published every month. Lindsay
Hi I loved this article and wanted to share it with all those of you who may be grappling with IT costs & social media when running a small business. Click here to read Running your business on a $1 a day I hope you enjoy it, and if you want to discuss the Quickbooks online cloud… Read More Running your business on a $1 a day
Hi Did you know that I am one of the few Chartered Accountants who is also a financial planner? There are not many of us around – we are a very rare breed. So why do I do both? Well I think it is really important that your financial adviser understands your tax affairs. In… Read More Choosing a Financial Planner
Hi So this is one of my favourite strategies for those that want to give their kids something really special & long lasting, and it is so simple. I wish someone had done it for me! First off, did you know that a child of any age can open a superfund – they just need… Read More LOOK AFTER YOUR KIDS IN THEIR RETIREMENT
Hi Well if so don’t be sad, be happy. If you are aged 49 or more on the 30 June 2015 then you can access the higher concessional super cap of $35k in the 2015/16 year meaning you can save more tax and grow more super. So check your salary sacrifice arrangement and adjust it… Read More Are you over Aged 49 today?
Hi An oldie but a goodie this one. If you are over age 56 and don’t have a transition to retirement pension in place then you are paying more tax than you need to. So, unless you are happy donating your hard earned dollars to Tony and his friends, call me to discuss how you can… Read More Over Age 56?
Hi Continuing with the June theme of year end tax saving tips, some of you might like to consider making a super contribution into your spouse’s super account. If your spouse has income of less than $10,800 in the 2015 year, you can receive an 18% rebate on contributions made into their account. The maximum… Read More Save $540 of tax with a Spouse Super Contribution
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