Are you the trustee of an SMSF but also a travel aficionado? Nothing wrong with that; however, trustees need to be aware that there can be negative consequences if you are out of the country for too long.Read more
Do-it-yourself superannuation, in one form or another, has been around for about 30 years. But it has only been over the last few years that SMSFs have made an indelible mark on Australia's retirement savings landscape.Read more
It’s known by a variety of names, such as the black economy, or even the cash or hidden economy. But whatever the label, its existence is a pebble in the ATO’s shoe that it is forever looking to prise out.Read more
Under the superannuation downsizer scheme, people aged 65 and older can make a non-concessional (post-tax) contribution of up to $300,000 from the proceeds of selling what was once their family home. Downsizing enables more effective use of housing stock, and existing contribution caps and restrictions will not apply to the downsizer contribution. The scheme applies from 1 July 2018.Read more
Being a director of a company, as with any elevation of status, is a role that also brings with it added responsibilities and duties.Read more
The ATO can issue public rulings that provide guidance on the interpretation of various tax laws.