The ATO is re-establishing itself as tax cop, with the office said to clamp down on overinflated work-related expenses this tax time. In 2020, around 8.5 million Aussies claimed nearly $19.4 billion in work-related expenses, with some clear trends emerging as a result of COVID-19 lockdowns...
Superannuation funds have continued their bounceback from the COVID-19 pandemic and are now on track for double-digit returns, new research has revealed. Research released by Chant West showed that growth funds – those with between 61 and 80 per cent in growth assets – were up 2.2...
You’re working hard to take care of your family now – so it makes sense that you’ve already put a financial safety net in place that will protect them if you’re no longer able to provide for them in the same way, by taking out...
The SMSF Association has confirmed the ATO position around non-arm’s length capital gains issues and its effect on segregated current pension assets.
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While the ATO has provided its guidance on COVID-19 LRBA relief on Division 7A, advisers will need to be aware of the practical elements that will affect the SMSF’s position around the administrative relief.
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The lead up to 30 June can be a good time to maximise tax benefits that may be available to you inside super. If you’re keen on taking advantage of potential tax benefits available inside super, or are looking at ways to rebuild your retirement savings...
Dealing with SMSF property overseas is a different undertaking compared to domestic property, with a different set of issues that affects the compliance approach, according to a technical specialist.
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Investing on behalf of your children can help give them a financial leg up and introduce them to good financial practice at an early age. However It’s important to pick the right vehicle. Tax, social security and the appropriate structure will all affect your decision. Whether it’s...
The amount of money you can contribute into your super each year is about to increase. The caps on concessional and non-concessional super contributions will increase from 1 July this year, meaning you may be able to put more money into super. Below we explain how the...
A trip to the nursery is a common activity for most of us, but are our resulting plant purchases putting our furry family members at risk? The answer, unfortunately, is that, yes, there’s a surprising number of plants (hundreds in fact) that can be poisonous...
He is also an accomplished presenter and educator
Co-authoring the popular investment book, Property vs Shares.