When the end of the financial year comes around an emergence of what claim to be tax-effective investment products can be seen. If you are considering such an investment, seek independent advice from your CPA Australia-registered… Read more
Salary sacrifice arrangements can be considered by employees, under which their gross salary may be surrendered to obtain either a packaged car for fringe benefits tax (FBT) purposes, or they can make additional contributions to their… Read more
A $1.6 million transfer balance cap will be introduced on the total amount that can be transferred into the tax-free retirement pension phase from accumulation, starting from 1 July 2017. Superannuation balances can remain in… Read more
For most employees having your entire super in one place makes a lot of sense to. It will allows you to reduce the amount of fees you’re paying, receive one lot of paperwork and only have… Read more
Individuals should consider making after-tax contributions to their superannuation if they are likely to earn less than $51,021 in the 2016-17 tax year, so as to qualify for the superannuation co-contribution, if their circumstances permit.The… Read more
If an individual is self-employed they will be able to claim contributions to a complying superannuation fund as fully tax deductible up to the age of 75 in the 2016-17 tax year. However, such contributions… Read more
In the last 12 months significant changes have been made to superannuation and require extra care. You may wish to consider making the maximum allowed concessional contribution before the newly decreased concessional contribution cap of $25,000… Read more
Individuals deriving taxable income over $180,000 will see a decrease in the effective highest marginal tax rate from 49 per cent in the 2016-17 year to 47 per cent in 2017-18, given the removal of… Read more
Tax offsets directly limit tax payable and can amount to a sizeable end number. Your income, family circumstances and conditions for particular offsets, are generally factors that influence your eligibility. Taxpayers should check whether they qualify for… Read more
The government announced that Australia’s foreign resident capital gains tax regime will be extended to deny foreign and temporary tax residents access to the main residence exemption, effective from 9 May 2017. Any properties held… Read more
