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There can often be a fine line between whethera person is carrying on property development activities or is “merely realising an asset”.  For example, it may not be clear whether the extent of a person’s [...]

If you’re a high income earner, you may soon be asked to pay an extra 15% tax on the amount of concessional contributions that exceed the $250,000 threshold. What is Division 293 tax? Division 293 [...]

When hiring new staff, there are certain steps you should follow to cover off on your tax, workplace, and superannuation obligations. CONFIRM THEY ARE LEGALLY PERMITTED TO WORK IN AUSTRALIA  Australian citizens, permanent residents and [...]

Don’t be another victim – be on the lookout for scammers who call you about your superannuation!  ASIC on the lookout  The number of cold callers is on the rise. The Australian Securities and Investments [...]

It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. However some of these amounts may be used in other calculations and may [...]

The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of a person.  It does not matter whether the income is earned by the individual in [...]

Superannuation is often a key source of income when you retire so it’s important to ensure your investment strategy makes your retirement savings last for as long as possible. Shifting investment strategy objectives  As you [...]

Keeping track of your superannuation balance is key as it impacts how much you can contribute to superannuation and whether you are entitled to other superannuation concessions and measures. Your total superannuation balance (TSB) is [...]

For most family businesses as well as private groups, succession planning (sometimes known as transition planning) involves considerations around the eventual sale of your business, or the passing of control of it to other family [...]

Following the ATO’s claims that nine out of ten residential rental property investors who have been audited have been getting their returns wrong, it might be worth touching on some of the tax traps and [...]