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What's new and proposed from July 2018 - TAX 06 Jun 2018

TAX - What's new and proposed from July 2018

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What's new and proposed from July 2018 - Financial Planning 06 Jun 2018

Financial Planning - What's new and proposed from July 2018

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May 2018 Budget - Taxation 09 May 2018

This article we look at the proposed changes to the taxation system in the May 2018 Federal Budget.

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Estate Planning 24 May 2017

A Will isn’t always the only way You would have heard the saying: “where there’s a will, there’s a way”. This statement is usually used to encourage people who are losing enthusiasm for a task or goal. But it also reflects the way many people feel about estate planning. They think that so long as you have a Will, you have a way to ensure your wealth is passed correctly to your loved ones. But this is not necessarily the case. The following article will give you more information on Estate Planning & its importance.

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Making the most of your redundancy 24 May 2017

If you are leaving your employer due to redundancy, you have a great opportunity to make a fresh start. Now could be the best time for you to think about a career change, become self-employed or consider retiring if you are close to retirement. But regardless of what your next steps might be, it’s important that you: understand the payments you may receive from your employer and what tax treatments apply consider the financial issues likely to be relevant to your age and career goals, and speak to us to find out how you could manage your redundancy payments effectively.

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Federal Budget Briefing Paper - Social Security 10 May 2017

Federal Budget 2017 Social Security - includes information on the following: Pensioner concession card reinstatement, Increasing pension residence requirements, Working age payment, New mutual obligations, Liquid Assets Waiting Period increased, Energy Assistance Payment, Family Tax Benefit, Child care subsidy

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Federal Budget Briefing Paper - Taxation 10 May 2017

Federal Budget 2017 Taxation - includes information on the following: Medicare Levy Increase, Extending The Immediate Deductibility Threshold For Small Businesses, Major Bank Levy, Changes To Small Business Capital Gains Tax (CGT) Concessions, Additional Capital Gains Tax Discount For Investment In Affordable Housing, Managed Investment Trust (MIT) Investment In Affordable Housing, Residential Property Plant And Equipment Depreciation Deductions, Residential Property Plant And Equipment Depreciation Deductions, Reducing The Corporate Tax Rate, Capital Gains Tax Changes For Non-Residents, Changes To Repayment Of HELP Debt, Annual Levy For Foreign Owned Vacant Residential Properties

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Cloud Account and an Estate 29 Mar 2017

Using cloud technology is becoming the norm whereby we save our important information in the clouds. Although this is a very convenient tool there could be an issue from an estate point of view.

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UK vote to leave the EU 24 Jun 2016

The UK voting to leave the EU created an unprecedented situation, and there is no verified procedure for the exit from the EU.

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2015-2016 EOFY Tax Tip 17 Jun 2016

As with the end of any financial year, it is important for one to maximise any tax deductions one may be entitled to, but also ensure where possible that the deduction is able to be claimed in the financial year where it has most impact.

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Foreign resident CGT withholding 17 Jun 2016

From 1st July 2016, where a foreign resident disposes of taxable Australian property (this includes land, residential and commercial property, mining/quarrying/prospecting rights, and some indirect interests in these things), the purchaser must withhold 10% of the purchase price and pay that amount to the ATO. Withheld amounts will then be used to offset the foreign residents CGT liability in respect of the disposal.

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FBT changes to entitlement benefits 17 Jun 2016

From 1st April 2016, the concessional treatment of entertainment fringe benefits has been limited.

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Family Payments Budget Announcement 2015 27 Nov 2015

New child care subsidy From 1 July 2017, a new single Child Care Subsidy (CCS) will be introduced. CCS will replace the existing: • Child care benefit and • Child care rebate.   CCS will be payable to families who use an approved child care service for a child who is un

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Pensions, allowances and concession cards - Budget 2015 27 Nov 2015

Pension asset test changes From 1 January 2017, the following changes to the pension asset test have been proposed: • increase the ‘asset free areas’ for both homeowners and non-homeowners • increase the asset test taper from $1.50pf to $3pf per $1,000 of assets ove

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Affording a higher education 27 Nov 2015

School leavers furthering their studies face university costs that leave many with a legacy of debt while others won’t be able to attend uni at all. A fortunate few have parents who planned ahead.  Which best describes your situation?   According to the latest government figure

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How much do I need to retire? 27 Nov 2015

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A simple explanation of how age pension works 27 Nov 2015

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Taxation rates and figures 2014 - 2015 27 Nov 2015

  Income tax rates Resident individuals Income Rate $0 – $18,200 0% $18,201 – $37,000 19% over $18,200

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Net Medical Expenses Tax Offset (NMETO) 26 Nov 2015

The NMETO allows taxpayers to claim a tax offset for out-of pocket medical expenses incurred above a certain threshold. In the 2013–14 Federal Budget it was announced and subsequently legislated that the NMETO would be phased out, with transitional provisions for medical expenses relating to disability aids, attendant care or aged care expenses.

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Business Taxation Budget Announcement 2015 26 Nov 2015

Tax incentives for small business The Government announced a range of tax concessions to assist small business entities. Generally, a business is a small business entity if it has business turnover (aggregated turnover) of less than $2 million.   Company tax cuts A tax cut of 1.5% is

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