ABN registrations under scrutiny: does yours stack up?

(31/05/2019) Have you run a small business that has ceased or paused operations? Or perhaps you’ve been hired as an ABN contractor? The ATO is cleaning up the Australian Business Register and is on the lookout for people who may not be entitled to hold an ABN. This year, the ATO has been focused on […]

How much tax is taken out of my super withdrawals

(31/05/2019) You’ve worked hard for your super, so make sure you access your benefits in the most tax-effective way possible. Members aged under 60 years will pay tax on their withdrawals, but if you’re over 60 you generally will not pay any tax. But there are always exceptions. The “tax free” component of your benefits […]

Are you declaring your “odd jobs” income from gig economy sites?

(10/05/2019) “Gig economy” platforms like Airtasker are allowing Australians to earn some extra cash by completing a staggering variety of odd jobs – everything from gardening to data entry and even standing in line for concert tickets! Here, we explain the tax issues that arise when you earn money performing these “gigs”. It’s important to […]

Is an SMSF corporate trustee worth the extra expense?

(24/05/2019) When setting up a new SMSF, one of the decisions you’ll need to make is whether you want to pay to establish a new company to act as a corporate trustee. The alternative option is appointing the members as individual trustees, which is initially cheaper, but may have downsides in the long run. A […]