Working and studying part-time: can I deduct my course fees?

(24/05/2019) Planning on going “back to school”? The costs can really add up, but the good news is that your course fees may be deductible if the course is sufficiently related to your current employment. In this first instalment of a two-part series, we explain when you can deduct your tuition fees for work-related education. […]

SMSFs vs other types of funds: some issues to consider

(14/06/2019) Thinking about setting up an SMSF? For many people, SMSFs are a great option for building retirement savings, but they may not be suitable for everyone. In this first of a two-part series, we explain some of the key differences between SMSFs and public offer funds. While public offer funds are managed by professional […]

New ATO guidelines: is your passive company running a “business”?

(14/06/2019) It’s often obvious when a company is carrying on a business. But many clients have companies set up in their family or business groups, whose “business” status may be less clear. Common examples include companies that simply hold assets used by another entity in the group, that receive trust distributions, or that appear to […]

What real estate can I transfer to my SMSF?

(07/06/2019) Transferring a commercial property into an SMSF can be a great way to build retirement savings and take advantage of the tax benefits available to SMSFs. The rental income and capital gains are concessionally taxed, or even tax exempt to the extent the property supports retirement phase pensions. So, if you run a business […]

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 […]