Led by US and Asian markets, global markets roared into the New Year – it was the best start to a year for the S&P 500 index since 1987, as markets reacted to an across the board improving economic outlook.
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FBT season is in full swing with only a month to go until the due date for the lodgement of the return on 21 May 2018. If you haven’t started getting the required information together, now is the time. Remember if you give benefits to any current, prospective or former employees or associates in connection with their current, prospective or past employment, then you may be liable to FBT …
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Superannuation fund members might end up paying 30 per cent more for their life insurance cover under the government's sweeping plans to stop account erosion in the $2.5 trillion super sector.
The federal government on Tuesday introduced measures that remove default life insurance for new superannuation fund members under 25, those with balances under $6000, and inactive members, as part of a move designed to bolster the retirement accounts of young savers and those on low income.
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On 8 May 2018, the Government delivered the 2018-19 Federal Budget, and it would be reasonable to say that this Budget starts to lay a foundation for the next Federal election. The focus of the budget was building a stronger economy by creating jobs and guaranteeing essential services. As most households have had to tighten their budgets over the past few years, the Treasurer has announced that the Government must also live within its means. He said the Government has made real progress in getting the budget back on track and that it has stayed on track for a surplus for six successive budget updates.
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Being ‘financially free’ is a common starting point for a person’s financial goals but as the referenced article shows, what this actually means when we dig deeper depends on a person’s age, gender and state of residence on top of dozens of factors based on personal situations.
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Do you rent out a part of your home, or a holiday home, on Airbnb, Stayz or another sharing site? Perhaps you see this as a way of making a little extra income to help the household budget or to save for that holiday. But what you may not be aware of are the long term tax implications of such a move, which may lead to a case of short-term gain causing long-term pain.
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Are you ready for e-Audits? The ATO is finally moving with the times and have started conducting e-Audits using computer assisted verification techniques. This process is said to be more efficient, accurate and thorough than traditional audits with the advantage of also minimising the time ATO spends on your business premises.
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Even with talk of bubbles bursting and budget-time reforms, property remains a popular choice for investors. And an investment property can bring more savings at tax time through property depreciation deductions than many people – particularly new investors – realise.
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With the upcoming tax season upon us, scammers are prevalent again. We are sharing tips to protect yourself (and your friends and family) from scammers. Taxpayers need to be ever-vigilant about bogus calls, text messages and emails from scammers. Some scammers go to great lengths to deceive taxpayers, including impersonating government representatives on the phone, sending fraudulent emails and even creating fake websites.
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