Hiring independent contractors: do you need to pay super?

(12/07/2019) Hiring independent contractors can be a flexible staffing solution for many businesses, but did you know that some workers who are genuinely independent contractors are still entitled to compulsory superannuation contributions? Find out what test the ATO applies and check whether your business has its super obligations covered. If a worker is not an […]

Still unsure about the instant asset write-off?

(12/07/2019) You may have heard about the “instant asset write-off”, but do you understand exactly how it can benefit your business? Read our case study for insight into how the write-off works, and what you need to do by 30 June 2020 to take advantage of this limited-time incentive. The write-off allows small and medium […]

Lending to your SMSF? Make sure you get it right

(05/07/2019) Thinking about a gearing strategy for your SMSF? When planning a borrowing in your SMSF to buy an asset such as property or shares (known as a “limited recourse borrowing arrangement” or LRBA), you can choose to borrow from a commercial lender or a private party. This could even be a related party of […]

Small business CGT concessions: make sure your claim stacks up

(28/06/2019) The small business capital gains tax (CGT) concessions can save businesses some serious tax – and help business owners significantly boost their superannuation – but it’s essential that you keep the right records, particularly for when the time comes to sell. Find out what your business should be doing now to keep the ATO […]

Will I qualify for the Age Pension?

(28/06/2019) Knowing whether you’ll be entitled to the Age Pension is an important part of your retirement planning. Once you reach Age Pension age (66 years from 1 July 2019), you’ll also need to pass two tests: the assets test and income test. Here we outline the basic thresholds that apply under each test and […]

Dealing with the ATO: simple tips for taxpayers

(21/06/2019) The way we approach tax matters can sometimes end up making a big difference to our bottom line and stress levels. Here are three tips to help individual taxpayers achieve a better outcome when lodging and dealing with the ATO this tax time. Tip one: Get help with debts early: If you’re experiencing financial […]

Moving overseas? Three options for your SMSF

(21/06/2019) Taking an extended job posting overseas? If you currently have an SMSF, there’s a risk your fund’s “central management and control” (CMC) will be considered to move outside Australia. This causes the SMSF to become non-resident, resulting in hefty penalty taxes, so it’s essential to plan for this before you go. Here are some […]