BUDGET 2018: WHAT'S IN IT FOR YOU (AND YOUR TAXES)
It’s May which means it’s Budget time. In the last full Budget before the next Federal election, the Treasurer delivered an election Budget with enough sweeteners for everyone including businesses, income tax relief for individuals, measures to boost superannuation, and help for older Australians.
The 2018-19 Budget was handed down on 8 May by Treasurer Scott Morrison. In the last full Budget before the next Federal election, ScoMo delivered what was widely perceived to be an election Budget with lots of sweeteners for everyone. So what’s in it for you?
Read More
STRENGTH & CHALLENGES IN THE FIRST QUARTER 2018
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.
Read More
IT'S FBT TIME AGAIN
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 …
Read More
FEDERAL BUDGET 2018: LIFE INSURANCE PREMIUMS TO RISE 30PC UNDER OPT IN
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.
Read More
FEDERAL BUDGET 2018
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.
Read More
WHAT IS YOUR PRICE FOR FINANCIAL FREEDOM?
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.
Read More
AIRBNB & HOME SHARING: TAXING IMPLICATIONS
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.
Read More
GET READY FOR E-AUDITS
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.
Read More
ARE YOU GETTING THE MOST FROM YOUR INVESTMENT PROPERTY?
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.
Read More
