Key Dates – November 2024

Given the polarizing debate about resource rent taxes over the past 21/2 years a recent Goldman Sachs research report on the sector’s taxes globally helps provide a useful context for the local debate. Goldman’s analystsRead more

Many SMSF trustees particularly those nearing or in retirement, are choosing bank accounts as their investment of choice. A large number of self-managed superannuation fund trustees chose to forsake the higher returns from the equityRead more

Executive Summary: At the date of this report, royal assent passed; Australian Charities and Not-for-profits Commission (ACNC) commenced operations on 1 July 2012; The new reporting framework will apply to registered charities from 1 JulyRead more

Many SMSF trustees don’t value or understand the work of SMSF auditors. Many trustees felt the auditors should just “tick and flick” the accountant’s work. An auditor plays an important role in an SMSF environmentRead more

The Australia Tax Office is seeking new powers to monitor private phone calls and emails so it can hunt down tax cheats. It has told the Attorney-General’s Department it needs access to the “real-time telecommunicationsRead more

People in building and construction businesses should not supply the materials used to renovated properties owned by their self managed superannuation funds (SMSF) because you would be breaking the law. Let’s take a scenario whereRead more

  From 1 July 2014, Superannuation Funds in pension phase will be taxed at the rate of 15% on their earningsover $100,000 a year. Funds with earnings of below $100,000 a year will continue to be exempt from income tax. ThereRead more

  We are all now aware that the Australian Charities and Not-for-Profits Commission (ACNC) has arrived. What you might not know is that charities with a corporate vehicle (typically a company limited by guarantee) whoRead more