Jul 16
Jul 04

Reversionary Pension vs Binding Death Benefit Nomination: Which outcome is preferred?

Reversionary pension vs BDBN: which outcome is preferred? Imagine a conflict between pension documentation and a binding death benefit nomination (‘BDBN’) in a self-managed superannuation fund (‘SMSF’) context. For example, the pension documentation states that the pension is reversionary to the surviving spouse; however, the BDBN states that the death... read more →
Jul 03
Jun 18
end of financial year checklist

2019 End Of Financial Year Checklist

Maximise your tax deductions for the 2019-20 financial year by planning and reviewing your records. Here are top tips for businesses and individuals when it comes to year-end tax planning: Small business CGT concessions Individuals operating a small business may be eligible for capital gains tax (CGT) concessions on the... read more →
Jun 07
Jun 06
financial advice for seniors

Superannuation strategies for end of the financial year

As the end of the financial year approaches, now is an ideal time to think about ways that you could grow your superannuation. Here are some strategies you can consider that will enable you to streamline your finances while also seeking some generous tax breaks. Concessional contributions: Also known as... read more →
May 28
Family Trust Set Up

Placing your family wealth in trust

The basic function of a trust is to separate control and ownership. The result of using a trust is that assets are protected and profits are distributed in the most tax-effective way. There is no 'one-size-fits-all' type of trust. The trust you use depends on many factors, such as the... read more →
May 20
May 15
End of financial year checklist

Essential Record Keeping At Year End

Staying on top of record-keeping all year round can save time, reduce stress for small business owners and help to maximise your tax return. Although record-keeping can seem like a tedious job, it is an essential part of running a business. Good record-keeping makes it easier to meet your tax... read more →
May 07
single touch payroll July 2019

Single Touch Payroll To Include Everyone

Single Touch Payroll (STP) is changing the way employers report their workers’ tax and super information to the ATO. Employers are expected to report information on a variety of areas through software that offers STP reporting or third-party service providers. Withholding amounts, superannuation liability information, ordinary times earnings, salaries, wages,... read more →