Did you start working at a young age? Didn’t know about superannuation or tax? The Australian Taxation Office (ATO) is continuing to urge young working Australians to consolidate their multiple superannuation accounts in order to avoid wasting thousands of fees every year. According to the ATO, 45% of working Australians aged between 18 and 35
The Australian Taxation Office (ATO) has recently found that self-managed super fund (SMSF) trustees are being approached to invest in arrangements that breach the sole purpose test and therefore super laws. The ATO has warned that they are “closely scrutinising” this ongoing activity. Some individuals and organisations are promoting arrangements where funds from SMSF’s are
With the end of another financial year just around the corner, you should be planning how to minimise your tax bill. Here are a few tips from us on how to this might be achieved- 1. Minimise Capital Gains Tax (CGT): What is capital gains tax? A capital gain or capital loss is the difference between
