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 [...]
You will pay more in the 2016 year for FBT The Fringe Benefits Tax (FBT) rate is currently 49%. The rate increased from 47% on 1 April 2015 in conjunction with the introduction of the 2% debt tax on high-income earners (Temporary Budget Repair Levy). The FBT year that is just ending is the first [...]
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 [...]
Port Macquarie - Event Tax Planning Tips for Medical Practitioners Come along to our free seminar, we will be hosting our latest event in Port Macquarie, see invitation for more details, or contact our office .
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 [...]
Clients these days are generally less concerned in growing businesses. They are more concerned with creating value to the public which can then be sold. The wrong structure will limit your ability to sell your business interests and may have a dramatic and detrimental impact on the amount of tax you pay on the sale [...]
From the team at Waterford Accountants & Financial Services, we wish our clients a very Merry Christmas and a Happy New Year.
Buying Christmas gifts using your credit card is convenient, but you can rack up big interest charges. However, with loads of 0% credit card offers in the market right now, Christmas on credit could actually make sense – provided you choose the right card. Say you splash out $2000 on Christmas gifts and spend the [...]
Here are some of your top questions answered! I jointly own an investment rental property with my elderly mother. Neither of us has ever lived in the property. We’ve recently updated our wills. The lawyer says that if Mum’s will gifts her half of the property to me then this ‘gift’ will not attract capital [...]
Waterford Accountants invites you to attend our Free Seminar - Tax Planning Tips for Medical Practitioners If you would like to learn and discuss the benefits of [...]