Your SMSF trust deed & the new Super rules

Your superannuation trust deed, along with the superannuation laws, form the governing rules that self managed super funds (SMSFs) need to operate by. The introduction of the $1.6 million transfer balance cap (TBC) and new transition to retirement income stream (TRIS) rules are a game changer for SMSFs when discussing benefit payments and estate planning. [...]

Position Vacant – Senior Accountant Tax/Business Services

Hales Douglass is a proactive and multidisciplinary Chartered Accounting firm located in Ulladulla and Batemans Bay on the NSW South Coast. We are seeking an experienced Business Services Senior with Tax and Business skills to assist the growth of our practice. You will have access to excellent ongoing training and support, a challenging and interesting [...]

$20,000 instant asset write off extended

The $20,000 instant asset write-off has now been extended to 30 June 2018, meaning that small businesses can continue to claim an immediate tax deduction for new assets under $20,000. What can you claim an instant deduction for? Generally, the deduction is primarily intended for physical assets. Equipment, vehicles, tools and electronics (such as computers [...]

Tax year-end checklist

BUSINESS TIPS. Business Income and Expenses... Consider strategies to defer income until after 30 June or bring expenses forward into June, especially if you expect lower income for next year. Ensure that your tax deductions are allowable: Bad debts must be written off before 30 June Super contributions must be paid before 30 June and [...]

Superannuation year-end checklist

Given the impending July 2017 superannuation changes, being on top of your end of financial year planning is as important as it has ever been. This year it is essential that you consider maximising the existing contribution limits for superannuation before they decrease on 1 July 2017. While maximising contributions should be front of mind [...]