Your Knowledge
1 July 2023 Super balance increase but no change for contributions
The general transfer balance cap (TBC) – the amount of money you can potentially hold in a tax-free retirement account, will increase by...
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Your Knowledge
Mar 3, 20231 min read
Future earnings for super balances above $3m taxed at 30% from 2025-26
The Government has announced that from 2025-26, the 15% concessional tax rate applied to future earnings for superannuation balances...
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Your Knowledge
Feb 13, 20232 min read
Full throttle in 2023
In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough. The downside of not taking time out for your...
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Your Knowledge
Feb 13, 20232 min read
Is ‘downsizing’ worth it?
From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent...
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Your Knowledge
Feb 13, 20234 min read
The ATO’s final position on risky trust distributions
The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions - changing the goal...
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Your Knowledge
Feb 13, 20235 min read
How good is ChatGPT at tax?
Not being paranoid or anything but we were curious about the skills of the latest innovation to take the world by storm, ChatGPT, and its...
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Your Knowledge
Feb 13, 20231 min read
SMSF reporting changes from 1 July 2023
If you have an SMSF with a total balance of less than $1 million, from 1 July 2023 you will need to report quarterly to the ATO instead...
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Your Knowledge
Dec 7, 20224 min read
Avoiding the FBT Christmas Grinch!
It’s that time of year again - what to do for the Christmas party for the team, customers, gifts of appreciation for your favourite...
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Your Knowledge
Dec 7, 20225 min read
What do the ‘Secure Jobs, Better Pay’ reforms mean?
The Government’s ‘Secure Jobs, Better Pay’ legislation passed Parliament on 2 December 2022. We explore the issues. The Fair Work...
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Your Knowledge
Dec 7, 20221 min read
Missed the director ID deadline? Now what?
If you missed the 30 November 2022 deadline for obtaining a Director ID, the Australian Business Registry Services have stated that they...
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Your Knowledge
Nov 17, 20222 min read
How high will interest rates go? (Part 2)
Low interest rates have been a mainstay since the global financial crisis of 2008. When the pandemic hit, Governments pushed stimulus...
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Your Knowledge
Nov 17, 20222 min read
Taxing fame: The ATO’s U-turn
Sportspeople, media personalities, celebrities and ‘insta’ influencers beware. The ATO has taken a U-turn on how fame and image should be...
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