Click here for a PDF version of this article. Compensation From Your Bank Or Financial Institution – Is It Taxable? Unfortunately, our financial institutions have not always acted as ethically as we consumers would like. Whether you’ve received bad advice or paid…
Click here for a PDF version of this article. Give yourself a super gift this Christmas! Give yourself the ultimate gift that doesn’t cost a thing – a super to-do list which is a gift that will benefit you now and in…
Click here for a PDF version of this article. Who Can I Nominate As My Super Beneficiary? Your superannuation death benefits must be paid to someone when you die. That somebody will usually be your estate or your nominated beneficiary (also known…
Click here for a PDF version of this article. How To Reduce Your Income Tax Bill Using Superannuation Did you know you can reduce your income tax by making a large personal tax-deductible contribution from your take-home pay to your super?…
Click here for a PDF version of this article. Thought Of Registering A Trademark For Your New Business? The ATO has issued a reminder around trademarks! For background, a trademark legally protects your brand and helps customers distinguish your products…
The ATO continues to see instances in which closely held groups seek to inappropriately divert profits to a related SMSF to access concessional tax rates. Taxpayer Alert TA 2023/2 outlines the ATO’s concerns with arrangements that it has recently identified in…
Sometimes promoters of schemes target self-managed super funds (SMSFs). Schemes can include tax avoidance arrangements that inappropriately channel money or assets into your SMSF so you pay less tax. They may also include arrangements promoting the illegal early release of…
Early last month, the ATO issued a reminder around auditors. If you have an SMSF, you need to appoint an approved SMSF auditor for each income year, no later than 45 days before you need to lodge your SMSF annual return (SAR). Your SMSF’s…
Most businesses are familiar with how GST works. But here’s a few reminders to make sure you’rebeing compliant and maximising your GST claims. GST is paid at each step in the supply chain and business charge GST in the price…
SCENARIO: I run a small business that requires me to travel quite a lot, particularly to country areas where I will often stay overnight. To save on accommodation costs, I have purchased a caravan. I have a business logo on…