If you’re making contributions to your superannuation, it’s important to be aware of the contribution caps. The Australian Taxation Office (ATO) has recently updated the way it displays information about the contribution caps, making it easier for users to see whether they’re at risk of paying unnecessary tax. What Are the Contribution Caps? The contribution
Cryptocurrency isn’t just a buzzword anymore; it’s becoming a legitimate investment option. Here in Australia, SMSF trustees are seeing the potential of this high-growth, high-risk asset class. But if you’re managing your own retirement fund, it’s crucial to understand both the opportunities and the hurdles.
Imagine owning a piece of Australian real estate through your own Self-Managed Super Fund (SMSF). It’s a powerful strategy many savvy investors consider, but it requires the right tools. This is where Limited Recourse Borrowing Arrangements (LRBAs) come in. Whether you’re new to SMSFs or looking to expand your investment portfolio, understanding how LRBAs work
Self-Managed Super Funds (SMSFs) make up over one-quarter of Australia’s total superannuation assets. This means that thousands of Australians are taking control of their retirement savings and, with it, the responsibility for tax management. One of the critical tax considerations for SMSFs is the calculation of Exempt Current Pension Income (ECPI), which can offer substantial
Let’s dive into the world of odometer readings and how they play a crucial role in your motor vehicle expense claims here in Australia.
As an SMSF (Self-Managed Superannuation Fund) member, you’ve probably heard whispers about Division 296 Tax, especially if your super balance exceeds $3 million. While it might sound like financial jargon that doesn’t apply to you, understanding Division 296 is crucial if you want to protect your wealth, avoid hefty tax penalties, and ensure your super
Let’s explore the power of DISC Profiling and how it can transform your team’s dynamics, communication, and overall performance. Understanding behavioural styles is key to fostering a harmonious and productive workplace.
If you’re running a Self-Managed Super Fund (SMSF), there are many rules and regulations that you need to stay on top of to ensure compliance. One such regulation involves the SMSF actuarial certificate – a critical document for SMSF trustees, particularly those managing pension accounts.
Effective tax planning isn’t just about meeting your obligations—it’s about strategically positioning your trade business for long-term success. Today, we’ll explore proven tax strategies for tradies such as instant asset write-off that will help you not only comply with the tax laws but also maximise your deductions and cash flow.
In this expanded guide, we’ll delve deeper into five key strategies that can help you through the complexities of trust accounts and ensure a smooth and compliant tax season.