Consolidated dependant (invalid and carer) tax offset The consolidated dependant tax offset was introduced in the 2012-13 federal budget in May, and combines and consolidates eight of the existing dependency tax offsets into one single non-refundable tax offset for taxpayers…
Standard Business Reporting moves to the next level Up until recently, the lack of standardized reporting processes and requirements across multiple government agencies meant that businesses often had to interpret the terms used and the type of information required for…
Click Here to Read the PDF of In Form September 2013 What does it mean to invest ethically? Actually, it involves a lot more than most people think and can offer various practical…
How much do you need to retire? ASFA’s latest estimate The cost of living for retirees has increased slightly in the June quarter, the Association of Superannuation Funds of Australia (ASFA)’s “Retirement Standard” for June has found. Released on August…
Small business CGT concession common errors Small business owners may be eligible for various concessional treatments for transactions that involve capital gains tax (CGT). These concessions can reduce, defer or at times even eliminate tax payable from capital gains. Applying…
“Mortgage offset account”, “offset home loan”, “interest offset account” or simply “offset account” — they are all interchangeable labels for the same financial product provided by banks. It is essentially a savings account that is linked to a loan account.…
If you’re keen to escape the winter chills and head off to warmer climes overseas, there is a scheme available that may take some bite out of your travelling costs. The Tourist Refund Scheme (TRS) lets you claim a refund…
Businesses can rejoice in the fact that the much talked about loss carry-back measures were finally passed by Parliament just days before 2012-13 ended, in a move to benefit more than 110,000 Australian companies. The loss carry-back law provides a…
From the 2012–13 financial year (so for your current tax return), the private health insurance rebate is being income tested against three income tier thresholds. This means if you have private health insurance, the amount of rebate you will be…
To help you keep abreast with the latest changes, we have compiled a guide to which reforms did and did not make it as of July 1, 2013 – including ones that affect self-managed superannuation funds (SMSFs). What made it?…