SUMMARY: Limited-recourse borrowing arrangements (LRBAs) are under fire on two fronts, as government continues to struggle with post-July super legislation. If you can believe it, with just 9 days to go, we were still seeing the rules being written for superannuation post 1 July. I’m not kidding. In the last week of parliament […]
Teeth will gnash and grind … but for many, this month marks the end of an era for superannuation. An era when super was simple and generous. And, possibly, the greatest tax dodge of all time. People had accounts with mega-millions in it. Individuals with more millions than you could fathom could ever be […]
SUMMARY: Time to have a proper look at the five-year catch-up provisions – and how to make the most of them. It’s been a long-time coming for super members to get some sort of averaging provisions for tax-deductible contributions. The self-employed often struggle with annual “use them or lose them” concessional contribution […]
SUMMARY: Make sure you get your salary sacrifice sorted properly in the 30 June final countdown for contributions. Timing is everything. Normally top of mind when I’m swinging a golf club or a tennis racquet. But every June, you should have superannuation timing on the brain. This June in particular. We’ve not got […]
SUMMARY: Super bonus for downsizing retirees the upside, property tax deductions the main downside from Federal Budget 2017. If you are a self-managed super fund trustee, it’s safe to take a breath. Take in a deep one. The Federal Budget was one that largely left SMSFs alone. It absolutely […]
SUMMARY: Put insurance at the top of your considerations when moving super from anywhere to anywhere. Sometimes the “advice” you get from the Tax Office is the worst advice you will ever receive. So bad, in fact, that it should be banned. Yes, correct. I repeat, the ATO should be banned from providing […]
There’s a fine line between pleasure and pain”. I’m tipping there are a few people surveying Perth’s property market feeling that at the moment. The following relates specifically to Perth, but can be applicable elsewhere. Is it in the bargain basement? Or the shitter? There is nothing pretty, or promising, about property prices […]
SUMMARY: ATO clarifies rules on $1.6m pension rollbacks, and gives a pardon for death benefit errors in the past. The Tax Office has handed out pardons for some past sins as it tries to smooth the deck of some compliance issues ahead of 1 July. The […]
SUMMARY: Salary sacrifice changes forever on 1 July. Are you ready? One big question that will not be answered until after 1 July is … how many employers will even continue to offer super salary sacrifice for their staff? From 1 July, 2017, […]
The last time a government tried to help young’uns to boost their super savings … well, it was the stupidest idea ever. In the 2008 Budget, Kevin Rudd gave us his First Home Saver’s Account. OMG. It was like a fart in an elevator. An immediate stinker. A Rudd thought-bubble that his Kitchen Cabinet […]
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