May 15, 2023 | Budget 23/24, Self Managed Super Funds, Small Business, Superannuation, Taxation
What will impact you in the new budget? The Federal Treasurer Jim Chalmers handed down the 2023 Federal Budget on 9 May 2023. This budget and the measures within it are designed to reduce the cost of living. The Budget also includes $3 billion to relieve energy bills,...
Apr 14, 2023 | Self Managed Super Funds, Superannuation
The role of an approved SMSF auditor is an important one. SMSF Trustees are required to appoint anapproved SMSF auditor to audit their Fund each year. What does the audit involve? The approved SMSF auditor is required to audit, not only the financial statements of the...
Mar 1, 2023 | 2023, Deductions
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise...
Feb 9, 2023 | 2023, Capital Gains Tax, retirement, Superannuation
From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has reduced to 55 from 60, more people have an opportunity...
Nov 18, 2022 | Land Tax, Taxation
Foreign owner surcharge land tax From the 2023 land tax year, the surcharge land tax payable on residential land owned by foreign persons increases from 2% to 4% of the taxable value of the residential land owned at midnight on 31 December 2022. Early Payment Discount...
