Quite often as tax agents, our role is to liaise with the Australian Tax Office on behalf of our clients to apply for General Interest Charge (GIC) penalties to be reduced or waived, and to arrange payment plans for tax liabilities …
If you are aged 55 years or older, the "downsizer contribution" rules enable you to place up to $300,000 from the proceeds of the sale of your home into your superannuation fund (eligibility criteria applies), and recent statistics …
You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of $100,000 issued. But it wasn’t you. And you certainly didn’t get a $100,000 refund …
If everything has gone to plan, you’ll have accumulated enough super throughout your working years to achieve a comfortable lifestyle in retirement. But there’s more than one way that super can be paid …
ASIC’s annual insolvency data shows corporate business failure (those companies entering external administration) is up 39% in 2023-2024, compared to the previous financial year. The industries with the highest …
FACT: When we roll into 01 January 2025, every Baby Boomer will be aged 60 or older – many well cashed up and with a healthy asset base. With surplus time and money on their hands, the great wealth transfer from the baby boomer gene …
With the end of the 2023-2024 financial year fast approaching, we outline the areas at risk of increased Australian Tax Office scrutiny and the opportunities to maximise your tax deductions by 30 June. …
More changes to superannuation are on the way, with the recent announcement that contributions caps will increase on the back of a 4.5 per cent rise in Average Weekly Ordinary Time Earnings (AWOTE) …
The Federal Government has proposed an additional tax in the superannuation space, targeting super funds with balances over $3 million. Draft legislation for this new tax, currently known as Division 296 Tax, was released on 03 Octo …
What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners …