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Upcoming Deadlines for your SMSF

admin May 17, 2016

The ATO is cracking down on the types of assets that your SMSF is able to own. If your Self-Managed Superannuation Fund owns motor vehicles, artworks, wine, coins, jewellery or other collectibles these new changes will affect you! SMSF’s that had purchased collectibles and personal use assets before 1 July 2011 were given a grace… Continue Reading »

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Budget 2016-17 The Good, The Bad & The Ugly

admin May 5, 2016

The 2016-17 Federal Budget is a budget of targets – broad targets to boost business and innovation, and the narrow revenue targets of the wealthy and multi-nationals.  It’s a big, long-term crafted budget designed to give enough pre-election glow but with structural measures to reign in spending and reduce concessions. Continue Reading >> Budget 2016-17 The… Continue Reading »

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2016/17 Budget – Tax and Super Changes

admin May 4, 2016

1. Effective from Budget Night – 7.30pm (AEST) 3 May 2016 1.1 A New lifetime cap for non-concessional super contributions The government to introduce a new $500,000 lifetime non-concessional contributions cap. The lifetime cap will take into account all non-concessional contributions made on or after 1July 2007 (i.e., from the 2008 income year) and will… Continue Reading »

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Federal Budget 2016 – Superannuation Crackdown

admin April 27, 2016

All indications are the government is set to crackdown on superannuation tax breaks as part of the 2016 federal budget on 3 May 2016. So now might be the time to make the most of benefits allowed under the current rules. Some speculation by commentators about possible changes to super include tightening the limits on… Continue Reading »

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Government Policy Changes

admin March 3, 2016

The last few months have seen quite a few changes in government policy in regards to taxation and the social welfare system and more changes (particularly on negative gearing) seem to be on the way. 1. Changes that affect you Family tax benefit The government has made a few changes to the family tax benefits… Continue Reading »

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Government Innovation Statement

admin January 28, 2016

The tax changes you need to know Tax Loss Rules – Same Business Test to Become ‘Predominantly Similar Business Test’ There are reforms being made to the Same Business Test to replace it with a new and more flexible ‘predominantly similar business test’. This will allow businesses access to prior year losses even when there… Continue Reading »

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