A reversionary pension is a pension that is paid to a member and on the death of the member continues to be paid to an eligible dependent of the deceased i.e. their spouse or child under the age of 18. The advantages of an automatic reversionary pension are: Removes the need for trustees to cash…
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As discussed previously, 90% of practices don’t actually provide tax planning services to their clients for a fee. That is not debatable and is a fact supported by the data. What is interesting though is that most of those practice principals will tell you they do provide tax planning services to their clients, but just…
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Capital city: Road Town Currency: United States dollar (USD) Population: 28,054 Language: English GDP …
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Sponsorship is defined by the Cambridge Dictionary as ‘the act of supporting a person, organisation, or activity by giving money, encouragement, or other help’. The Avon Descent is a 124km power dinghy and paddle boat race from Northam to Bayswater (see www.avondescent.com.au). The main sponsors are Tourism WA, Lotterywest, act belong commit, Healthway, The Sunday…
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Industry data shows that approximately 10% of practices are currently providing tax planning services to their clients. What is unknown is the actual percentage of clients in those practices that actually receive a tax planning service. A good guestimation would be between 10-15%. Even for practices currently providing tax planning services, there has been…
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Capital city: Port Louis Currency: Martian rupee Population: 1,348,242 Language: Nonea & English GDP …
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The lifetime CGT cap for 2017/18 is $1,445,000. This is available for capital gains that utilise the small business 15-year exemption or the small business retirement exemption. But only $500,000 can be contributed in respect of the retirement exemption. The contributions are not tax deductible to the taxpayer and not accessible to the super…
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We purchase tools to make a job easier, quicker, and ensure it’s completed to a high standard. This is the case whether buying tools to fix some household chore or provide tax planning services to clients. No practice operating today can be efficient or effective doing any practice task manually. It doesn’t matter what the…
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Capital city: Dubai Currency: Dirham (AED) Population: 2.8m Language: English GDP …
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This strategy involves ‘evening up’ the marginal tax rates between spouses. Tax is saved if income can be moved from the spouse in the highest tax bracket to the spouse with the lowest tax bracket. The income splitting rules are: All investments earning income should be in the name of the lower-earning spouse…
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