Crowdfunding: is it income?

(01/11/2019) You may have heard the ridiculous story of a man who wanted to raise US$10 for a potato salad and ended up with US$55,000 from complete strangers. Or perhaps you’ve heard stories of shameless couples who wanted to people to fund their lavish weddings or...

Super guarantee opt-out…?

(08/11/2019) Under the superannuation guarantee framework, employers are required to contribute a minimum percentage (currently 9.5%) of their employee’s ordinary time earnings into superannuation. Employers that fail to do so will be liable to a penalty called the...
Non-commercial losses: does it apply to you?

Non-commercial losses: does it apply to you?

(01/11/2019) Do you run a side business in addition to your main employment? This could be in primary production (ie a farm or winery), retail or any other profession, trade, vocation or calling, provided it is not in a role of an employee. If you do, you may be...

Tax relief for drought-stricken farmers

(25/10/2019) As the ongoing effects of the drought sweeps across the nation, the financial effects are no doubt weighing heavily on the minds of farmers and other primary producers. While the government cannot make it rain, it is doing its bit to ease the financial...

Genuine redundancy payment: age increase

(25/10/2019) With everyone retiring later in life and working longer, the government has been playing catch up to align some outdated age provisions in the tax law to today’s standards. One such change brings into line the genuine redundancy payment’s qualifying...

Beware of insurance changes in super…

(18/10/2019) Insurance within superannuation has always been a mixed blessing, good for some who enjoy having cheaper insurance, while others see as an erosion of their super balances. It doesn’t matter which camp you fall into, the recent changes to the way super...