Our Advent calendar for 2019
On behalf of all our staff we wish our clients a Merry Christmas, Happy New Year and a great holiday period.
Tax Office sounds warning on 8 types of super schemes
The Australian Taxation Office has earmarked a number of superannuation and SMSF schemes it says are under additional scrutiny for their ability to enable taxpayers to evade laws around superannuation and tax rules.
Don’t forget sharing economy income
Money that you earn from “gig” jobs through platforms like Uber, Airtasker and Airbnb, such as transporting passengers or renting out a room or house, counts as your assessable income.
Impress your friends with your knowledge!!
Knowing this information is a 'must have' for this Christmas break.
Salary sacrificing and the superannuation guarantee
Employers should take note of the new rules that became law on 28 October 2019, regarding the application of compulsory superannuation guarantee to salary sacrificed superannuation amounts.
Why so much super “stuff” this year?
New rules mean that insurance coverage will be cancelled on “inactive” superannuation accounts from 1 July 2019, unless the fund member informs the fund in writing that they want to keep the insurance.
Some elderly Australians are trapped asset rich, income poor. Whilst downsizing might be the smartest solution, another option is a reverse mortgage.