Blog
Planning the Best Use of Super: How To Maximize Your Superannuation
Planning the best use of superannuation involves considering factors such as your age, retirement goals, risk tolerance, and investment strategy. It is important to regularly review your superannuation fund's performance and fees, as well as consider consolidating multiple super accounts to save on fees. Here are some of the considerations for the popular options.
Tax Cuts: What Will the Changes in Taxes Mean for Me?
Tax changes can impact individuals in various ways, depending on the specific changes implemented by the government. These changes could affect income tax rates, deductions, credits, and other tax-related factors. It is important for individuals to stay informed about tax changes to understand how they may be affected financially.
Tips for a Happy Retirement: Planting the Foundation for a Joyful Retirement
What will you do after retirement? When we retire, we finally have the time and freedom to pursue our passions, whether they be travelling, learning new skills, taking up hobbies, or simply spending time with the people we love. Here are some steps toward fulfilling your journey and make it a happy retirement.
Tax Compliance: The Problem When the Evidence Doesn’t Match What the Taxpayer Tells the ATO
The problem when the evidence doesn’t match what the taxpayer tells the ATO is a common issue in tax compliance. This can occur when the ATO receives information from third parties, such as employers or financial institutions, that does not align with the information provided by the taxpayer on their tax return. This can lead to discrepancies and potential audits or investigations by the ATO.
Investment Rules Within SMSF: Can a SMSF Invest in Property Development
The involvement of Self-Managed Super Funds in property developments often catches the attention of the ATO. Can you invest in real estate development with your SMSF? Find out here if investing in property development projects through an SMSF is allowed and the pros and cons of this strategy.
The Updated Stage 3 Personal Income Tax Cuts for Australian Taxpayers
Stage 3 Personal Income Tax Cuts were part of the government's plan to simplify and flatten the tax system. When Stage 3 tax cuts take effect in July 2024, they will be the most costly and inequitable tax cuts in Australian history, costing $320 billion in lost tax revenue in their first ten years.
Changes in Victoria Property Market in 2024: 8 Major Events are Expected to Happen This Year
Victoria’s housing market continues to defy expectations! When major government-mandated reforms take effect, real estate professionals have warned buyers and homeowners that they are in for one of the most challenging years in the history of the state’s real estate market.
Next 5,000 Review Program: An Update on ATO Private Groups Tax Program – and How we PROTECT YOU!
The Tax Avoidance Taskforce funds the Next 5,000 review program, which employs data matching and analytic algorithms to identify Australian residents who, with their associates, possess wealth in excess of $50 million. The program focuses on prevention rather than correction, with the goal of increasing continuing and willing involvement in the tax and super system through one-on-one engagements.
Bah humbug: The Christmas Tax Dilemma for Businesses
Don't let taxes ruin your holiday spirit! This blog decodes the tax complexities of Christmas spending, ranging from FBT on parties to gift deductions. Here are our best suggestions to avoid giving the Australian Taxation Office a bonus this holiday season.
The Key Financial Challenges and Influences You Should Care About in 2024
Uncertainty has prevailed in recent years, but may we expect more consistency as we approach 2024? We look at some of the important challenges and factors in the economy, taxation, and employment.
The Controversial Home Loss Claim: A case of the taxpayer who claimed a loss on their property.
The Administrative Appeals Tribunal's judgement has sent the tax world into a frenzy after the Tribunal ruled in favour of a taxpayer who sold the apartment she lived in for a loss and then claimed the $265,935 loss as a deduction on her tax return.
Annual Leave: Here’s Why You Should Take It – and How to Make the Best Use of It.
Annual leave is an essential part of maintaining a healthy work-life balance. Taking time off from work not only allows you to recharge and rejuvenate but also offers several other benefits. By taking time off and making the best use of it, you can enhance your productivity, enjoy quality time with loved ones. Here are some reasons why you should take your annual leave and how to make the most of it.