Blog

  On Sunday 26 June, just six days before the federal election, the ALP’s Shadow Treasurer Chris Bowen unveiled the final pieces of their economic plan. I was alarmed by one piece of it, as were most, I think, of my colleagues and workmates. Mr Bowen announced they would save the government some money byRead more

The world that we are living in has become a constant overload of information; a continuous flow of messages through mobile phones, electronic devices, internet, social media & advertising on nearly every flat surface possible. I can’t help to sometimes feel that my life is constantly being interrupted and my focus clouded with information, informationRead more

Taxpayers who are registered for GST must report their tax obligations to the ATO on a Business Activity Statement or BAS. Depending on the turnover of your business you have the option of reporting and paying your tax obligations on an annual, quarterly or monthly basis. When you register for GST it is important toRead more

If you are feeling a little battered and bruised from the announced changes in the budget regarding Superannuation, you aren’t alone. It often seems that there is no logical explanation to moves made in this area and an onlooker might be excused for thinking that the government sees the superannuation sector as the goose thatRead more

The government has proposed that an individual may only have a balance of $1.6 million in a tax free superannuation pension.  What does this mean in practice? Currently, as far as the SMSF or in fact any superannuation fund is concerned the earnings on investments supporting a member’s pension are tax free without any maximumRead more

  Does your SMSF own artwork, antiques, coins or other collectables ? Were any of these investments acquired before 1 July 2011? If yes, you need to be aware of the 1 July 2016 deadline that has passed for SMSF’s with “old collectables” (acquired before 1 July 2011). The deadline relates to SMSF’s having toRead more

are a popular choice of structure for carrying on a business in Australia. The main advantage is having the discretion to distribute profit to different individuals to whatever extent from year to year to achieve a lower rate of tax. When combined with a corporate trustee, you can increase your level of asset protection whileRead more

I bet you were fed up with the ads on television in respect of health insurance. “Join now to avoid the June 30 deadline”. You see, according to the Australian Taxation Office, they want more people covering their medical expenses, so they are not a burden on the government or society. Here a quick runRead more

WHY TAX ON SUGAR SHOULD BE HIGH ON THE AGENDA It’s addictive, makes you feel good for a little while, and can cause long term health complications. And just like alcohol and tobacco, it’s the perfect base for a disincentive tax! The UK will introduce a tax on sugary drinks in 2018 at a rateRead more

[kkstarratings] Some people think that their ‘Will’ will cover everything. Many people may be surprised to learn that estate planning covers more than ‘Wills’. Although people may not wish to discuss their plans about their death (they may find it difficult to talk about), it is necessary to make all the relevant arrangements prior toRead more