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June 30 Tax Tips 2020

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 [...]

June 30 Superannuation Tips 2020

With June 30 approaching, now is the time to ensure your superannuation strategies are up to date. Contribution caps. Before the end of the financial year you should: Review if you have any income available to contribute to your fund; and Review your total contributions to ensure they are below the caps. Non-concessional (after tax) [...]

Catch-up concessional super contribution strategies

Catch-up concessional contribution rules are a new opportunity, available this 2019/20 financial year, that can be used to maximise tax-effective contributions. The new rule allows you to make larger super contributions to increase retirement savings, manage your tax position and may assist in equalising super interests between spouses. Eligible individuals can accrue amounts of unused [...]

Coronavirus Stimulus guide

Support for individuals & businesses March 2020. What a changing world we are living in as we all try to navigate the challenges arising from the current Coronavirus Pandemic, including protecting the health and safety of our friends and family, and the viability of our businesses, employment and investments. The purpose of this communication is [...]

On 1 July 2019 your Life Insurance cover may be lost!

In February this year, the Government passed legislation which prevents trustees of APRA-regulated funds from providing insurance to members with inactive superannuation accounts, unless a member has directed otherwise. It is a common practice for many individuals with an SMSF to also have a secondary APRA-regulated fund which provides them with insurance. This may be [...]