Financial Commentary and Investment Opportunities for September 2016
Today, in our monthly video newsletter, Dennis speaks about current economic issues and three major investment opportunities for Australian investors.
Tax and the family home
Australians love property and for the property owners among us, it’s been a nice feeling watching market values rise. It’s worth remembering though, the tax man could want a share if you sell. Unless the property is your primary residence, you could find capital gains tax (CGT) taking a cut of your profits. CGT applies […]
Buying a business
Set yourself up for success Many of us dream of running our own business, with all the independence and satisfaction that offers. While striking out on your own can be personally and financially rewarding, getting off to a good start is crucial to success. So if you are seriously thinking about becoming your own boss […]
End of Financial Year Checklist
Planning for the end of the financial year is a little harder this year, with a federal election just days later which could result in sweeping changes to superannuation, negative gearing and business taxation. All the more reason to get on the front foot to make the most of the current tax arrangements while you […]
Cyber Fraud + Tax. What you need to know.
From fake Tax Office “delayed return” or “proof of identity” emails to telephone calls conveying similar requests, taxpayers have had to keep their guard up. So how can individuals and businesses protect themselves from online fraud and crime? Why are cyber scams on the rise? Scams have always been around in some form or another, […]
Got your car log book ready?
When claiming for work-related car expenses, many taxpayers miss out on maximising their claim due to inadequate record keeping. But also, failing to maintain a valid car log book can cost taxpayers dearly in a Tax Office audit. The car log book is an important piece of tax substantiation for those who use their vehicle […]
Building a new home? Is it exempt from CGT?
There is a concession in the CGT rules that can allow a taxpayer to treat a property as their “main residence” even though it does not yet have a habitable dwelling. It is a widely recognised fact that a capital gains tax (CGT) exemption applies to a taxpayer’s principal or main residential property. And one […]
Investment Property owners: understand how valuations can affect your tax
Estimates are most commonly used in apportioning expenses between private and business use. More important however is the use of valuations to work out the cost of transactions that are not at arm’s-length or when no actual cash changes hands. A common example is in respect of property transactions. Why are valuations in property transactions important for […]
How Australians spend their tax refunds (and why you should consider Tax Planning)!
We are part-way through May, with the final siren due to ring for the end of financial year only a mere 49 days away. The 2014 MoneySmart poll provided a great insight into what Australians actually did with their tax refunds in the 2014 financial year. Not surprisingly, the vast majority of taxpayers used the funds to […]
Super contributions caps for the 2015/2016 year
As the end of the financial year rapidly draws to a close, have you thought to check your super contributions? Below is a brief overview of the superannuation contribution caps for the 2015/2016 financial year – don’t leave it too late! Concessional (before-tax) contributions 2015/2016 A concessional contribution is a contribution that is made by […]