It is fast approaching the 30th of June so now is the time to run through a checklist of what you need to do prior to the end of the financial year. Continue reading Pre-June Essentials for Your Super
One of the more common strategies used by business owners to reduce tax is to purchase a car before the end of the financial year.
This often sees lenders completing up to 1/3 of their entire year’s vehicle finance budget in the last 6 weeks of the financial year. Thankfully the last minute stress and rush has been alleviated by some banks who have introduced what most call “Express Vehicle Financing”. Continue reading Express Vehicle Financing
So it’s the first week of June and you’re probably thinking that it’s too late to do anything material to reduce your tax before June 30.
It’s both obvious and true that like any other life endeavour nothing usually beats a combination of great advice followed by a commitment to work to a plan. Of course tax planning is no different in this way.
That aside, the accounting team here at Accountplan have come up with some great last minute tips you can still look to implement before 30th June in order to reduce that tax burden. Continue reading Last Minute Tips to Reduce Tax
Every year news outlets flood us with information about changes in the budget, all manor of issues are covered and their consequences for individuals and businesses are highlighted to all. As can be the case with news media, some of the information is sensationalised and some of it complex so the truth, the actual impact on you, can be difficult to decipher.
SO the big questions are, do the changes in the 2017 budget affect you? Continue reading Budget Edition
In Australia, around 77% of SMSF’s currently have individual trustees.
However, the case for using a corporate trustee is growing stronger and we are now seeing an annual shift away from individual trustees.
In this issue, we investigate some of the reasons why this is the case: Continue reading SMSF Trustees – Corporate vs Individual?
Changes to superannuation laws in 2007 provided SMSF’s the opportunity to borrow for the purpose of acquiring a single asset (such as a commercial or residential property) through their SMSF.
If the SMSF has a deposit that meets the lenders requirements the lender will provide the balance of the purchase price.
Legislation requires that the loan must be a Limited Recourse borrowing Arrangement (LRBA). Continue reading Lending to SMSF’s
To retire comfortably, your employer’s 9.5% contributions to your super may not be enough. By making extra contributions, you will boost the amount of super you have when you stop working. The key though is to start now so you can relax later.
Why grow your super?
There are lots of good reasons why you should grow your super as much as possible: Continue reading Growing Your Super Nest Egg
Download a copy of our May Newsletter
More than 300,000 part-pensioners will either suffer a cut in their payments or lose access under new asset test rules coming into effect on 1January 2017.
Under the deal struck between the Coalition and the Greens, more than 90 per cent of pensioners will be better off or have no change to their payment. Continue reading Pension Changes
You can claim a deduction for repairs and maintenance to your property as long as they are not capital expenses. Many landlords forget about the new tap or roof repair as their primary focus is on the rental returns and capital gains. Continue reading Capital Works vs Repair