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SMSF Members – Don’t forget your pension payments

Published . Filed under Uncategorized. Total of no comments in the discussion.

SMSF members who are receiving retirement pensions or transition to retirement pensions (TTR’s) need to ensure that they make their minimum pension payments from their SMSF before the 30 June 2017. 

Resident requirements for Companies

Published . Filed under Uncategorized. Total of no comments in the discussion.

The residency status of a company, regardless of whether it trades or invests in Australia, dictates the company’s Australian income tax obligations. Foreign resident entities are generally taxed in Australia on any income that has an Australian source. Australian resident entities are generally taxed on their worldwide income.

Margin scheme and GST

Published . Filed under Blog. Total of no comments in the discussion.

The margin scheme is a way of working out the GST one must pay while selling a property as part of a business. The margin scheme can only be applied if the sale of the property is a taxable supply.

The importance of dividends

Published . Filed under Blog. Total of no comments in the discussion.

The ASX 200 index at 31 May 2015 was 5,777 at 31 May 2017, two years later it was 5,724.

Phoenix Companies under scrutiny

Published . Filed under Blog. Total of no comments in the discussion.

Phoenix companies are now the target of a coordinated interagency taskforce between the NSW Office of State Revenue and other state revenue bodies and the Australian Taxation Office.

Main Residence CGT exemption

Published . Filed under Blog. Total of no comments in the discussion.

Whenever a property is occupied as a Principal Place of Residence (PPOR), it will be exempt from capital gains tax (CGT) for that period of time. Under the 6 years rule, a property can continue to be treated as your main residence and fully exempt from CGT if sold within six years of first being… Read more »

Super Reform: What SMSFs absolutely need to consider before 30 June

Published . Filed under Financial Planning News. Total of no comments in the discussion.

The wide-ranging superannuation reforms come into effect on 1 July 2017. With the changes come a series of issues that Trustees need to be across, even if they don’t immediately affect you or your fund:

Rights to see the Will

Published . Filed under Legal News. Total of no comments in the discussion.

Often people ask us to assist in accessing a copy of a Will of a deceased relative when the holder of the Will is refusing to provide it.

Be aware of income and capital gains tax (CGT) when renting through Airbnb and Stayz

Published . Filed under Blog. Total of no comments in the discussion.

Australia has always been a popular travel destination. Many holiday makers look for short-term affordable accommodation. Therefore, more and more Australians are now renting out all, or part of their residential property through a sharing economy website or app, like Airbnb and Stayz. While renting through Airbnb and Stayz Airbnb is a great source of… Read more »

Recently married? Its time to update your Will

Published . Filed under Blog. Total of no comments in the discussion.

If you have recently tied the knot, it is important that you update your Will. Failure to update your Will after marriage may result in your Will becoming invalid.