Superannuation Tag

Save Tax – Opportunities with Superannuation for 2020

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...

COVID-19 and SMSFs

Due to the economic fallout and market volatility created by the Coronavirus, the Australian Government and the ATO have each separately announced various measures designed to help retirees navigate this new financial landscape. Some law changes made by Government affecting super fund members are: Temporary...

Super guarantee amnesty

The super guarantee (SG) amnesty is now official. Under the amnesty, employers have a 6-month window until 7 September this year to disclose, lodge and pay unpaid SG amounts for their employees. To be eligible for the amnesty, you must declare and pay your SG shortfalls...

SMS scam – tax refund notification

The ATO has alerted taxpayers to another scam where messages are texted to people asking them to click on a link and provide personal identifying information to receive a refund. To make the messages seem more legitimate, scammers are using technology that causes them to...

Have you prepared for changes in income protection?

With effect from March 31 2020, APRA expects insurance companies to discontinue issuing any new contract where insurance benefits are not based on income at time of claim, including Agreed Value income protection policies....

How the ATO is Tackling the Black Economy

The black economy involves dishonest and criminal activities that happen outside the tax system. It encompasses many elements, from the under-reporting of income and non-payment of superannuation through to serious criminal activities such as money laundering, illicit tobacco and the illegal drug trade. By avoiding their tax...

What does a financial planner do?

Needing expert advice on how to reach your financial goal? It might be a bit overwhelming to acknowledge the challenges that come with taking control of your finances. But there’s no need to worry, as long as you know who you should call for help. Let’s first...

Christmas Parties and Gifts: Tax and FBT Issues For Employers

It's Christmas time and we are all looking forward to the office parties and catch-up dinners, so we thought we'd put together this great Christmas tax read on holiday expenses! We’ll focus on the tax implications of holding Christmas parties (inside or outside the office) and also...

Full circle of life 

Aging is inevitable - though we can delay the implications a little with science and technology, keeping out of the sun and being fit and healthy!  We are all familiar with each of the life stages people go through. As we age, our level of definition...