More and more we are hearing about tough economic times. The Baby Boomers are nearing retirement, leading to a change in spending habits and an economic contraction. As a result many businesses will suffer. However, amongst the doom and gloom, there is a bright spot in the business world. The family business. Many are thriving.
One of the most common questions we get asked is whether a Self Managed Super Fund (SMSF) can purchase residential property. Often the answer to the question is dependant on your personal circumstances. The Australian Taxation Office (ATO) has recently released guidance material to assist in making this decision. The ATO have confirmed that the
The ATO has announced that it is embarking on a letter campaign focusing on very high wealth individuals. The campaign will begin this month, with letters being sent out progressively to tax agents with clients that are Australian residents who, together with their associates, effectively control net worth in excess of $30 million. The campaign
