Blog
How Interest Rates Impact Your Investments
Many sorts of investments can be considerably impacted by changes in interest rates. Higher interest rates tend to have a negative impact on share markets. Here’s what you need to know about rising interest rates and your investments.
Building an Emergency Fund for Your Peace of Mind
A strong financial plan must include the creation of an emergency fund because it acts as a safety net in case of unforeseen circumstances. We can advise you on the best solutions for your particular financial circumstances and assist you in taking action to lay a solid financial foundation.
How To Prepare Super For EOFY
Recent headlines have been dominated by superannuation. As we near the conclusion of the fiscal year, it is worthwhile to turn our attention to super balances. There are several ways to increase your superannuation, but if you want to maximise your contributions, it's crucial that you don't wait until the last minute. Here’s how to get your super ready for EOFY!
Taxation Changes for Business Owners – What’s New This 2023?
The 2023 Federal Budget was announced on Tuesday 9 May 2023, with a focus on cost-of-living relief and modernizing the economy. What does this mean for you? Here is a brief summary of the business tax updates and the two important things that could have an impact on business owners.
ATO Announces Enforcement of CGT, Rental Properties and Work Claims
Recent media reports have confirmed that the ATO's priority targets now include CGT, rental property deductions and work-related expenses. The ATO has declared that it will concentrate on capital gains tax, work-related costs, and rental property deductions in FY2024 in an effort to crack down on questionable payments as the end of the FY2023 financial year draws near.
Federal Budget 2023 – Winners and Losers Revealed!
The government promised a budget that would build “stronger foundations for a better future”. Look at the breakdown of the 2023 federal budget winners and losers. And if you’d like to know how this can impact, contact us today!
AustralianSuper to Refund $70M to Customers after Double-Charging Members
Australia's biggest superannuation fund has revealed that it has been double charging some customers, and will refund around $70 million in fees and insurance costs to about 100,000 people. Here's how to determine whether you're entitled to a refund.
ATO Supercharges Its Campaign to Crackdown Incorrect Rental Property Report
The ATO boosts its campaign against rental property owners who incorrectly submit their income and expenses report. Based on previous data, there is a tax gap of around $1 billion from incorrect reporting of rental property income and expenses and the government has launched a more serious campaign against inaccurate tax report.
Say Hello to Payday Super
The government has announced that from July 1, 2026, all companies will need to pay worker's superannuation at the same time they pay them which means companies will no longer be able to pay superannuation on a quarterly basis.
7 Reasons to Gift Your Estate to a Family Trust
A gift in trust is used to avoid paying tax on gifts that are larger than the annual federal gift tax exclusion amount. The succeeding generation of heirs is frequently given wealth through the usage of this kind of trust. Learn the benefits and risks of gifting your estate to a family trust. Contact Success Accounting Group today!
Using a “Bucket Company” Strategy to Reduce Tax
Set up a bucket company to access the 25% or 30% capped tax rate. Your accountants at Success Accounting Group are very aware of the tax laws and can make this easy for you. Contact us today! The sooner we get started; the sooner we can help you save tax using a “Bucket Company” - well before 30 June 2023 for enough time to implement tax saving strategies.
Tax Advantages of Superannuation Constributions
Your superannuation will probably play a significant role in your retirement income. For this reason, topping it off while you work is a smart idea. But did you know that by making your own voluntary superannuation payments, you can also enjoy some significant tax benefits right now? Here are the various methods to gain tax benefits from your super contributions.