Aged care strategies
As policies and retirement needs change, navigating aged care strategies is essential. This discussion focuses on tax strategies, funding, and the transition to aged care, highlighting critical considerations for this process. Essential Superannuation Strategies for Aged Care Superannuation plays a vital role in funding aged care services during retirement. Effective planning around superannuation access can […]
Easy-to-follow steps to boost your superannuation
Easy-to-follow steps to boost your superannuation You can boost your super fund by adding your personal contributions, which are the amounts you contribute directly to your super fund. If you claim a tax deduction, they’re concessional contributions effective from your pre-tax income. They are taxed in the fund at a rate of 15% unless you […]
Don’t let taxes dampen your holiday spirit!
Don’t let taxes dampen your holiday spirit! Like Santa carefully checks who’s naughty or nice, businesses must watch the tax rules when spreading Christmas cheer. Hosting festive parties for employees or clients can lead to Fringe Benefits Tax (FBT). FBT is a tax employers pay when they provide extra perks to employees, their families, or […]
Depreciation schedule for rental properties helps tax deductions
As a property investor, you’re likely looking for ways to increase your rental income and reduce your taxable income. One strategy that’s often overlooked is claiming property depreciation. By preparing a tax depreciation schedule for your residential rental property, you can boost your cash flow through annual tax deductions. For brand-new properties, a depreciation schedule […]
Keeping your home CGT exempt after you move out
Keeping your home CGT exempt after you move out Usually, you do not pay any Capital Gain Tax (CGT) when you sell your Principal Place of Residence (PPR). A property stops being your primary residence when you stop living in it. However, for CGT purposes, you can continue treating this property as your primary residence […]
Key Superannuation Strategies for Aged Care
Key Superannuation Strategies for Aged Care Considering evolving policies and retirement needs, we navigate tax strategies, funding, and transitions to aged care in this blog. It also discusses key considerations for this transition. Superannuation is critical to funding aged care services in retirement. Proper planning around accessing superannuation can minimise tax impacts and optimise retirement income. […]
Benefits, costs and key considerations of investment property tax
Investment property tax: Benefits, costs and key considerations If you’re considering investing in property, you must understand the tax consequences. In Australia, like many other parts of the world, owning an investment property offers potential tax benefits and costs. From claiming deductions on interest payments and holding costs to understanding the nuances of Capital Gains […]
The role of superannuation in a divorce: What you need to know!
Superannuation and Divorce: What You Need to Know Divorce can be messy, and figuring out who gets what is never easy—especially regarding superannuation. Unlike cash or property, superannuation is typically locked away in a trust, which isn’t instantly accessible. However, under the Family Law Act 1975, superannuation is considered property and can be divided between separating […]
Business Valuation Made Simple: How to Determine What Your Business is Worth
Business Valuation Made Simple: How to Determine What Your Business is Worth Putting a price on a business is challenging. In this issue, we discuss a few basics to give you guidelines for estimating its value. Note that a prospective buyer of your business might use similar principles to assess its value. Also, note that […]
Bucket Companies: A Smart Strategy for Managing Business Profits and Taxes
Bucket Companies: A Smart Strategy for Managing Business Profits and Taxes One of the most important responsibilities of a business owner is ensuring that the business remains profitable. So, if the business starts to generate a healthy profit, a plan is needed. While maximising deductions has its place in any tax planning strategy, a tax […]
