As a small business owner, there are a plethora of tax benefits, incentives, concessions and offsets that can potentially be used. This represents a significant challenge when you have 1,001 matters to think about and an enterprise to run. Here are three changes to the simplified depreciation rules that you may have missed (they apply...

Every investor goes in with dreams of a pot of gold, but there is a fundamental dichotomy of investor types – one looks to line their pockets with investment returns along the way, and another who is patient to wait until the end of the rainbow to reap the rewards. The distinction between investing for...

Unbeknownst to many a taxpayer, the ATO issues public rulings that provide advice on the interpretation of various tax laws. Public rulings deal with priority issues that require clarification, so you may find that many of your concerns are shared by others and may have already been addressed. Public rulings provide taxpayers with certainty and...

With the new year well underway, businesses should watch out for the changes below, all of which are effective from July 1, 2013: a. Changes to the super guarantee rate As you most probably make super payments on behalf of your employees based on the minimum 9% super guarantee rate, you will need to increase...

There is a provision under the superannuation rules to access some of your retirement savings held in your super fund under a “transition to retirement” arrangement. Under this plan, a super fund member can ease into retirement by reducing their working hours without reducing their income. If you are aged between your relevant preservation age...

With a vast number of superannuation funds out there spread across an array of sectors, it can be hard to decide which fund to join. Luckily, superannuation information provider SelectingSuper has compiled a list of the best fee deals for superannuation funds calculated for a member earning around $50,000 per annum with $50,000 in their...

Many investment property owners may be missing out on valuable property depreciation entitlements, simply by not being up-to-speed on what is and is not depreciable. Experts say that the examples of assets that could qualify for tax deductions may surprise many taxpayers, and even nominate items such as kids’ cubby houses or garden gnomes which...

A major motivation for the setting up of trusts is asset protection. Valuable property and other assets can be moved into a trust to isolate them from being exposed to litigation, for example, for protection from creditors, or to maintain an estate until a beneficiary becomes old enough to have legal possession. The use of...

Trustees of self-managed superannuation funds (SMSFs) have been urged to prepare for the impending 2011-12 annual return deadline. If you belong to a newly registered SMSF – and assuming you lodge your returns with the help of this office – you will usually have a 2011-12 annual return deadline of February 28, 2013.  To meet...

The debate over same sex marriage in our Federal Parliament last year did not result in a change in the current status of same-sex unions. This does not mean, however, that same-sex couples have no recognition in existing law. Same-sex couples are treated as equitably as heterosexual couples when it comes to superannuation. This became...