Those of you with an SMSF where at least one member has a balance of more than $1m, need to be aware that there are several events that now need to be reported to the ATO in real time – ie not after the end of the year when we are preparing your tax returns.… Read More SMSF real time reporting
The last week has seen a drop in the markets which can be a testing time for the uneducated investor. The temptation is to sell as markets fall (as it’s all a bit scary), and conversely to buy when markets are going up (as everyone else is doing it and it feels good). However selling… Read More Don’t be a lemming
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
As proposed in the 2017 budget, the removal of the main residence CGT exemption for tax non-residents is almost through Senate. There has been no opposition to the change from either party. A rather draconian rule, the effect is that if you are tax non-resident on the date you sign the sales contract on your… Read More Non-Resident with a home here? Quick – Sell it!
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