by Ben Smith | Apr 27, 2022 | COVID-19 Updates
Because of the financial impacts of COVID-19, you (in your role as trustee of an SMSF), or a related party of the fund, may provide or accept certain types of relief, which may give rise to infringements of the super laws. You may also have been stranded overseas...
by Ben Smith | Apr 22, 2022 | Financial Planning, Tax & Estate Planning
The PAYG instalment system allows a business to spread its income tax liability across the tax year. This helps with cash flow, but also means the business is not faced with a large tax bill after the end of the tax year. Most businesses lodge and pay instalments...
by Ben Smith | Apr 20, 2022 | Financial Planning, Tax & Estate Planning
Family trust beneficiaries at risk The tax legislation contains an integrity rule, section 100A, which is aimed at situations where the income of a trust is appointed in favour of a beneficiary, but the economic benefit of the distribution is provided to another...
by Ben Smith | Apr 20, 2022 | Accounting & Audit, Business Intel, Featured, SMSF Specialists
Two landmark cases before the High Court highlighted the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume that they will not be responsible for PAYG withholding,...
by Ben Smith | Apr 20, 2022 | Featured, Tax & Estate Planning
The stamp duty exemption for farms in NSW has recently been broadened and will greatly increase the succession planning options available to families in the rural sector. The past exemption for transferring farming properties between generations requires the...
