When is early release of super legal
Most people know that superannuation cannot be accessed until retirement or in exceptional circumstances. These exceptional circumstances have caused considerable confusion and allowed unscrupulous individuals to promote illegal schemes to access super early to pay
Airbnb and 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
Beware of the SMSF death trap
It is said there are only two things certain in life, death and taxes, but what happens when they occur at the same time? Death of a loved one is not only a tumultuous time
Got tax clearance to sell your home?
In the market to sell your house? Before you call in the real estate agents and home stylists, you probably know that you’ll need to have a contract of sale handy. Did you know that
Budget 2018/19: Increased “Phoenix” Activity
The Coalition will further increase activity to find and punish business owners running “phoenix” operations. Basically this is where the business owner runs the business, fails to pay employee entitlements (such as super, holiday pay,
Budget 2018/19: Increased SMSF Mebmer Cap
The Coalition will increase the maximum number of superannuation members from 4 to 6. This will make inter generational superannuation and estate planning easier, plus combat the Labor Governments proposal of preventing SMSF’s in pension
Budget 2018/19: Abolishing Super Exit Fees
The Coalition will look to prevent superannuation funds from charging exit fees. These fees discourage people from moving away from under performing funds because there is an unreasonable cost imposed in some cases. This will
Budget 2018/19: Banning Large Cash Payments
The Coalition will ban “large” cash payments to businesses ($10k and above). Great in theory, but how do you prevent someone accepting cash when the very nature of cash is that it is almost impossible
Budget 2018/19: Contractor Reporting Extended
The Coalition will expand the current “contractor reporting” requirements that apply to the construction and cleaning industries (and a few others) to more industries. Our guess is that eventually, all payments to contractors will need
