Thousands of Expat Australians face Capital Gains Tax hit
Australian property owners living overseas have until the end of June 2020 to sell their homes if they want to avoid big Capital Gains Tax bills. …
Company Directors will be personally liable for unpaid GST
Federal Parliament has recently passed legislation to include GST in the Director Penalty Notice (DPN) regime, and it is expected to come into effect on 01 April 2020. Currently, company directors are personally liable for unpaid su …
Changes to Income Protection Insurance Policies
At the end of 2019, the Australian Prudential Regulation Authority (APRA) announced important changes to retail income protection insurance - and some of these changes are expected to take place from 01 April this year. The changes …
Engaging contractors. Should you pay their super?
Now here's a case study that will make many employer business owners take notice. The courts recently ruled that a "sub-contractor" engaged by a property maintenance business was actually an employee (and not an independent cont …
Work travel claims for your business
Do you sometimes take work trips for your business – perhaps to conferences, trade shows or to visit interstate or overseas clients? When a trip is clearly for business purposes only, the rules for deducting your expenses are reason …
Commonwealth Seniors Health Card – are you eligible?
We're all aware that for a person to be eligible for the age pension, their assets and income need to be below the relevant thresholds and of course they need to reach the required age. …
Why it pays to get life insurance in your 30s
For many young Australians insurance is one of those things that is pretty low on the to-do list — something for their future self to worry about. But what they may not realise is that life insurance is not just for oldies, but r …
Maximising your super contributions
Getting money into super has become a great deal harder in recent years, with various layers of caps complicating one's ability to contribute. Adding complexity to the issue, there have been new caps in some areas and reduced caps i …
Navigating changes to super: The 10 per cent rule.
Superannuation is usually talked about as having three tax benefits. It is a tax-effective way of receiving income because contributions are taxed at 15 per cent. The fund's earnings are only taxed at a maximum rate of 15 per cent. …
Getting your personal super deductions right.
Recent changes to the law mean many more Australians can now claim deductions for their personal superannuation contributions. But while the eligibility requirements have been lowered, the process for claiming deductions is not stra …