It is no surprise that the ATO is keeping a close eye on individual tax returns this year.
Read More
On 1 July 2021, the Superannuation Guarantee rate will rise from 9.5% to 10% – the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025.
Read More
Businesses that have utilised economic stimulus measures such as loss carry-back, temporary full expensing and accelerated depreciation need to take extra care this tax time.
Read More
Trustees of SMSFs have a responsibility to ensure that any account-based pensions commenced upon retirement of beneficiaries meet the minimum pension payment requirements.
Read More
The RBA left the cash rate unchanged at a record low of 0.1% during its June meeting, as widely expected. Policymakers reaffirmed their commitment to maintaining highly supportive monetary conditions until at least 2024 when actual inflation is expected to be within the 2-3% target. First quarter GDP came in at 1.8% qoq, beating market expectations of 1.5%, a third consecutive quarter of economic growth driven by continued growth in household consumption and private investment. The RBA board outlined it expects GDP to grow by 4.75% this year and 3.50% in 2022, supported by fiscal measures and accommodative financial conditions, while jobs, inflation, and wage pressures are expected to remain subdued.
Read More
Individuals finding themselves in financial strife with an ATO debt may be able to apply to be permanently released from the debt. There are conditions attached to the debt release
Read More
The end of the 2020-21 financial year is close at hand, with 30 June on the horizon. Please consider a review of your existing personal finances, and see if there is anything you can do between now and then that could benefit your financial situation, goals and objectives.
Read More
When investing via super, it’s important to understand that there is an accumulation phase and a retirement phase.
Read More
When it comes to building and maintaining wealth, super is widely considered to be one of the most tax-effective investment structures available.
Read More