Self-Managed Superannuation Funds: A cornerstone of family wealth

Self-Managed Superannuation Funds (SMSF) have long been a favoured structure for many families to come together and build wealth. With a 15% tax rate and 0.00% once in the pension phase, it is regarded as a beneficial way to diversi …

Navigating these markets

We thought it timely to add some internal Peak Investment Committee commentary around the Wealth Market Update for the June 2022 quarter. Our Investment Committee meets monthly to receive written and verbal updates from fund manager …

Seniors downsizing contributions to super

Downsizing the family home is often part of the longer-term financial plans for many older Australians. But did you know that you could consider investing the proceeds of the sale of your family home into your super – depending on y …

Tax time targets 2022

With the 2021-2022 tax season about to kick into full swing, the Australian Taxation Office (ATO) has revealed its four main areas of focus for this year. And as cost-of-living pressures start to bite into taxpayers' budgets, the AT …

Important super and payroll changes for employers

There are important changes to superannuation – effective from 01 July 2022 – that will have implications for employers, their payroll management and (potentially) their cash flow. The two key changes, announced as part of last year …

EOFY planning for 2022

With the end of the 2022 financial year fast approaching, meeting with one of our Advisers for a Tax Planning session is a great way to address future planning, cash flow management and preparing for your tax liabilities. Taking the …

Super Guarantee: $450 eligibility threshold to go

As part of last year's Federal Budget handed down on 11 May 2021,  the Australian Government announced it will remove the $450 per month earnings threshold for employees to receive superannuation guarantee contributions from their e …

Temporary full expensing of business assets extended

Businesses will have another year to utilise the temporary full expensing of depreciating assets measure after it was extended to end on 30 June 2023. The measure was originally introduced in 2020 to encourage business investment in …

FBT: A quick guide

While income tax and company tax seem to be front of mind for most businesses, Fringe Benefits Tax (FBT) is also applicable when employers provide certain benefits to their employees or associates of employees (usually family member …

COVID-19 PCR and rapid antigen tests to be tax-deductible

The federal government is set to make COVID-19 tests tax-deductible for Australian individuals and exempt from fringe benefit tax (FBT) for businesses when they are purchased for work-related purposes. …