How CGT concessions can affect your business … The small business capital gains tax concessions are extremely valuable. If you are a small business owner who needs to dispose of assets that have risen in value, then accessing these concessions can greatly reducing your consequent tax liability, even to zero. How to access your CGT […]
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How do the pensioner assets test changes affect me? Starting January 1 2017, the assets test free area and taper rate for pensions increased. The assets test works by reducing your Age Pension payment for every dollar of assets owned over a certain value. The test takes into account most assets, including any property (except
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Don’t be scammed! Scammers usually contact you out of the blue and they can be very convincing, making use of every channel of communication – emails, SMS, snail mail or even phone calls just to steal money or information from you. To help you avoid being scammed we want to share with you how to
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Are you staying in touch with your SMSF Assets? Over the years there have been a lot of changes to the rules around valuation of assets held under an SMSF. One of the most significant and controversial of these changes is the requirement to consider valuing SMSF assets at market value when preparing the annual
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Extended registration for employers of working holiday makers (backpackers)… As long as you register by 31 January 2017, you will not be penalised and you can still use the new withholding tax rate of 15% from 1 January 2017. Who can hire working holiday makers? Anybody can hire working holiday makers, especially if there is
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Do I need an ABN? Although it isn’t mandatory to have an ABN, there are a few good reasons why you should. The first is that without ABN, your business will sound and look cheap. Other businesses that deal with you are legally bound to withhold tax. If they make any payments to you and
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