Blog
Intergenerational Transfer Exemption – Requirement to have default capital beneficiaries for discretionary trusts
Jan 8, 2019
When considering transfers of primary production land, it is important to structure your affairs appropriately from the outset. Specifically, where discretionary trusts own the land or carry on a business on the land, planning is essential to minimise taxation and...
Your top five New Year’s financial resolutions
Dec 24, 2018
Overspent in 2018? Here’s how to put your finances back on track – and even get ahead. Despite the best intentions, many of us will finish this year on a low note financially. Whether it’s the cost of Christmas presents or summer holidays, or unexpected expenses that...
Proposed changes to financial reporting thresholds
Dec 19, 2018
On 16 November, an exposure draft of the Corporations Amendment (Proprietary Company Thresholds) Regulations 2018 was released proposing to increase the thresholds that determine a large proprietary company under section 45A of the Corporations Act 2001 (Cth). Under...
SMSF succession planning
Dec 18, 2018
There are many strategies that can be implemented during a self-managed superannuation fund (SMSF) member’s lifetime to increase certainty about what will happen to their super balance following their death. A commonly used strategy is for the member to have a valid...
Annual reporting to the ATO of contractor payments
Sep 4, 2018
The taxable payments reporting system (TPRS) requires businesses to report to the ATO all payments made to contractors during an income year. This additional reporting is in the form of an annual report that is used by the ATO to cross check that contracting income is...
Drought Assistance Information
Aug 10, 2018
Farmers are facing some of the worst drought conditions ever experienced, with the Government confirming 100 per cent of NSW is in a drought and over 60 per cent of Queensland is in drought or is drought-affected. The conditions have seen costs of stock feed and...
Protecting you and your family
Jul 19, 2018
Insuring your car, home or other possessions makes sense. So why do so few of us insure ourselves? If illness or injury stopped you from working for an extended period, could you keep paying your bills? Personal risk insurance gives you peace of mind that if the...
Downsizer Contributions
Jun 14, 2018
From 1 July 2018 the new ‘downsizing’ into superannuation rule will be able to be used. For those that meet the criteria, this could be used to top up your super and assist with your retirement plans. This ‘downsizer’ rule allows those that are over 65 and sell their...
Budget 2018-19 Overview
May 9, 2018
It's that time of the year again! The 2018-19 Budget was announced yesterday and there are plenty of changes and updates to be aware of. Click on the link to get the overview from our Financial Planning team Budget 2018-19 Overview
ATO shifts the responsibility for paying GST from developers to purchasers
May 1, 2018
The ATO will soon be outsourcing the collection of GST on new residential property sales and home site sales to innocent purchasers in an attempt to thwart cowboy developers who do not meet their GST obligations. Parliament has recently passed legislation that changes...
Company tax rates: difficulties with the current state of play
Feb 15, 2018
The rules for determining which tax rate applies to company taxpayers have changed significantly over the past two years and are still undergoing change. The current rules provide that the lower tax rate of 27.5% applies to a company carrying on a business with...
Teaching your kids the value of money
Feb 9, 2018
In an increasingly digital world, the value of money can be a difficult concept for children to grasp. Here are some tips for helping your kids and grandkids become wealthy and wise. Standing next to mum or dad at the corner shop and watching them count out notes and...