Paris Financial Archive
SMSFTax
New legislation will help prevent superannuation assets from being hidden during divorce proceedings.
From 1 April 2022, the Australian Taxation Office (ATO) will be able to release details of an individual’s superannuation information to a family law court.
Cryptocurrency
It is necessary to maintain good records for all transactions with cryptocurrency, whether you're using cryptocurrency, for personal use, in business or as an investment.
SMSFTaxUncategorized
Is a financial services compensation payment to your superannuation fund a contribution? Of late, there have been several compensation payments made by financial services providers to customers that were inappropriately charged or overcharged for insurance premiums or services they did not receive.
Small BusinessTax
According to new guidelines issued by the Australian Taxation Office, small businesses that pay accountants or bookkeepers to apply for tax-exempt COVID-19 grants on their behalf will not be able to claim tax relief for the service.
Strategic Financial Advice
Downsizing the family home is often part of the longer-term financial plans for many older Australians. But did you know that you could consider investing the proceeds of the sale of your family home to your super – depending on your age and circumstances – as a downsizer contribution?
Strategic Financial Advice
Australians will need to rebuild their superannuation and retirement savings, after withdrawing more than $36 billion in early super release payments in 2020, according to Colonial First State’s Retirement Realities Series.
Strategic Financial Advice
There’s no denying that being proactive with your super may be key to increasing your retirement savings. As an investment vehicle, super can offer significant benefits thanks to the magic of compounding interest. It also provides one of the best tax structures available.
Strategic Financial Advice
In the right hands, a self-managed superannuation fund (SMSF) can be a beneficial way to build wealth for retirement. Whilst they are not for everyone, it is important that when thinking of starting an SMSF, individuals need to understand the benefits and responsibilities they take on by having an SMSF.
Strategic Financial Advice
In these uncertain times, it pays to have money set aside to give you peace of mind that if your income drops, you still have ample funds to pay for your everyday expenses until you get back on your feet again.
Strategic Financial Advice
The Covid situation took a turn for the worse, as spiralling infections saw new lockdowns introduced in Australia. The government has suggested all restrictions can be lifted once 70% of the adult population has been fully vaccinated. Until then, the outlook for economic activity levels has deteriorated.
Small BusinessTax
The COVID-19 support payments received by individuals and businesses are set to be regarded as non-assessable non-exempt income after the introduction of a new legislation into Parliament.
BlogSMSF
From 1 July 2021, the maximum number of members a Self Managed Super Fund can have increased from four to six. Why would you have a fund with six members and what are the implications?
