Superannuation Borrowing
Superannuation borrowing is arguably the fastest growing area of superannuation investment. There is an increasing demand for superannuants to take more control of their superannuation.
Beware of the tax implications of participating in employee share schemes
(Part 1 securities acquired pre-2009 Financial Year)
An employee share scheme (ESS) provides employees or their associates with the opportunity to acquire “securities” (in the form of shares or rights) in their employer’s company by virtue of their employment relationship. These securities are either offered as part of an employee’s remuneration package, or under a broad based employee share plan offered to the employees of the company at a particular point in time. These schemes motivate employees by aligning the interests of the employees with future company performance, as ownership of security interests in the employer company will enable employees to directly receive financial benefits proportional to the company’s future profit and growth.
How the 2012-13 Budget will affect your Business
This is a short summary of The Budget for the 2012-13 financial year.
What does the 2012-13 Budget mean for Individuals?
This is a short summary of The Budget for the 2012-13 financial year.
What are the requirements to contest a Will?
Disputes often arise when parties that are associated with the deceased person disagree with the intentions as contained in the Will. In NSW, you have to meet certain criteria in order to be eligible to contest a Will. If the Will excludes or does not make adequate provision for ‘eligible persons’ to whom the deceased owes a moral obligation, a Will can be overridden by the current legislation. Applications must be made within 12 months of the death.
How does the Personal Property Securities Act (PPSA) affect your business?
The Personal Property Securities Act 2009 (PPSA) is a national register that consolidates State based and National personal property registers into one. The Personal Property Securities Register (PPSR) is the register where details of security interests in personal property can be registered and searched. The Insolvency and Trustee Service Australia (ITSA) is the Australian Government agency responsible for administering the PPSR.
Capital Gains Tax from Shares and Units
Capital Gains Tax (CGT) is the tax you pay on a capital gain. It is not a separate tax, just part of your income tax. The most common way you make a capital gain (or capital loss) is by selling assets such as real estate, shares or managed fund investments.
Audit Insurance – Have you got it covered?
The ATO (and other government authorities such as the OSR) have never been more active or able to conduct enquiries, reviews or investigations of your returns. Audit Insurance is designed to protect businesses from the costs associated with an audit of their tax affairs by a government body.
When is the right time to make a Will?
A Will is a legal document that clarifies how you wish your assets (your estate) to be distributed after your death. The Will may also cover who your executor will be, payment of debts, withdrawals from accounts, any special requests, and who will take on guardianship of your children until they are of legal age. The importance of a Will is tremendous as it will ensure the distribution of your assets according to your wishes and make the life for your family and friends a lot easier.
Tax Audits – What are they?
The Australian Taxation Office (ATO) is responsible to the government and the community for collecting the revenue and ensuring that everyone pays the correct amount of tax. A tax enquiry or audit is an examination of your tax affairs by the ATO to see if you have done what you are required to do under the tax laws, including:
