A self managed super fund (SMSF) is a superannuation trust structure that provides benefits to its members upon retirement. The main difference between SMSFs and other super funds is that SMSF members are also the trustees of the fund. The advantages of establishing a family SMSF are: Tax savings – 0% on…
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In a typical husband and wife tradepeople partnership, one partner is qualified (for example an electrician) and produces the partnership income and the other partner may be involved in administration for the partnership. Profits from the partnership are normally split 50/50 between the partners. This structure was reviewed by the ATO in 2005 in…
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Average weekly pay: $1,259 Employment size: 28,000 Future growth: Strong Skill level Bachelor degree or higher Architects and landscape…
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From 1st January 2018, a 60% CGT discount applies for Australian resident individual’s investing in qualifying affordable housing. This also applies if the individual invests via a managed investment trust. The conditions to access the 60% discount are: The housing must be provided to low to moderate income tenants. Rent must be charged at a…
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PAYG variations are attractive to taxpayers who have negatively geared investments (such as rental properties or share portfolios), and receive large tax refunds when lodging their annual tax returns. This strategy involves lodging a PAYG variation with the ATO in July of each financial year to bring forward the tax benefit. Once the PAYG variation…
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Reducing space usage and relocating to smaller premises will reduce rent costs (where the new premises have a similar cost per metre as the current premises). Businesses can reduce the space they use by: Going 100% paperless – documents and files are scanned and archived online instead of being stored as paper files…
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Capital city: Prague Currency: Czech koruna (CZK) Population: 10,610,947 Language: Czech GDP: …
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Mortgage offset accounts are savings accounts that are structured so your savings balance in the account is offset against your home loan account. The advantages of mortgage offset accounts compared to normal savings accounts are: The mortgage offset account balance reduces the interest payable on the home loan account. As no interest…
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From 1st July 2017, managed investment trusts (MITs) are able to invest in affordable housing, allowing investors to receive a 60% CGT discount on any capital gains made. MIT’s will be able to acquire, construct or redevelop property subject to satisfying the following conditions: Qualifying housing must be provided to low to moderate income tenants.…
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If you have unused space, subleasing part of your business premises to a third party is a great short-term strategy to reduce some of your fixed costs. This will reduce your rent expense and provide extra cash flow. Subleasing typically makes sense when: Business conditions are tough – this reduces your overheads and…
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2