Browsing Archive

December, 2019


SMSF schemes for illegal access of super

By On 24 December 2019

The ATO has issued a warning for Australians to be aware of scheme promoters that promise to allow you to withdraw your superannuation early, and illegally. Individuals can legally withdraw super when… Read More


Don’t delay new business ideas

By On 24 December 2019

Many business owners have exciting ideas about where the future might take their company. These ideas may be concerning new products, internal improvements or new market segments. It is, however, an unfortunate… Read More


Removal of the main residence exemption for non-residents

By On 23 December 2019

The government has changed capital gains tax (CGT) rules for foreign residents under the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019, which was granted assent on 12 December… Read More


Closing the office for the holidays

By On 19 December 2019

As the holiday season approaches, the workplace often gets more relaxed as things wrap up. However, closing the business for the holidays usually isn’t as simple as turning the lights off and… Read More


Tax on gifts and donations

By On 17 December 2019

Individuals can claim tax deductions when giving gifts or donations to organisations that have the status of deductible gift recipients (DGR). To be eligible to claim a tax deduction for a gift,… Read More


Proposed measures to increase retirement savings

By On 16 December 2019

Currently, people aged 65 to 74 can only make voluntary superannuation contributions if they meet the ‘work test.’ This means they must report themselves to be working a minimum of 40 hours… Read More


Doing market research for your business

By On 15 December 2019

Market research is key to developing relevant and effective business strategies as it helps you understand your industry, customers, competitors and market trends. Undertaking both primary and secondary market research can allow… Read More


What you need to know about BFAs

By On 14 December 2019

A Binding Financial Agreement (BFA) is the Australian equivalent of a prenup. It is used to agree in advance on how a couple’s property and other assets would be distributed should their… Read More


Paying tax on term deposits

By On 10 December 2019

The interest you earn from term deposits is subject to tax, just like your regular income. You have to declare investment income on your tax return, including interest in the year it… Read More


2019 Updates to the Pension Loan Scheme

By On 7 December 2019

Changes have been made to the Pension Loan Scheme (PLS) under the federal government that came into effect 1 July 2019. The updates aimed to improve the previous scheme and help more… Read More