As you start your property investing journey, you will find different opinions in every corner and an overwhelming amount of information. The secret to getting on the front foot is keeping it simple. Here are the top five tips for new investors. Determine your investment strategy It’s important...
As warm days begin to fade, the weather will soon change. Although a relief for some, for others it means cold nights and further suffering. That’s why we are so proud that our CEO, Michael Fox, is supporting Vinnies CEO Sleepout. For Michael, it’s his...
Who decides what happens to your superannuation savings when you die? You may think that you do, but that isn’t always the case. The ultimate decision may be made by someone you don’t even know – the trustee of your superannuation fund. Let’s look at how...
The complexity of depreciation unsurprisingly has many scratching their heads. While investors don’t need to be depreciation experts, here are some of the most common questions in this area of taxation. 1. What is depreciation and how does it work? It’s the natural wear and tear of...
Do you have a casual employee? Here's what you should know about changes to casual employment. On 26 March 2021, the Government has passed an amended version of the Fair Work Amendment (Supporting Australia’s Jobs and Economic Recovery) Bill 2020 to change some sections covering workplace...
What is a car fringe benefit? A car fringe benefit commonly arises when an employer makes a car they own or lease available for the private use of an employee. If you conduct your business through a company or trust, you may be an employee of...
On 31 March 2021, the Fringe Benefits Tax (FBT) year ends. With the ever-increasing budget deficits as a result of COVID-19, the ATO will be reviewing whether all employers who should be paying FBT are paying it and that they are paying the right amount. To...
“Cap” tax using a “Bucket Company” Using a “bucket company” can be a great strategy for saving tax on trust profits distributed. If you have a Discretionary or Family Trust that generates profits, this strategy may apply to you. A "bucket company" is a company that is...
When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know there are also some excellent tax benefits you can take advantage of right...
You don’t need to be a depreciation expert but understanding some of the key concepts surrounding this complex area of taxation can help your ongoing investment strategy. Capital works deduction This is the depreciation deduction you can claim on the structural component of the building and...