From www.smsfadviser.com: Advisers and trustees must understand key aspects of their superannuation funds before implementing tax-saving strategies.
Critical factors include a member’s available cap space, which depends on whether previous tax returns are lodged and their total super balance as of June 30.… read more
From www.aicd.com.au: Australia’s $20 billion childcare sector faces systemic failures and regulatory issues, leading to calls for reform and an inquiry into the NSW regulator’s performance.… read more
From smsmagazine.com.au: Division 296 tax is expected to become law, impacting superannuation balances over $3 million starting 1 July 2025.
The timing and implementation remain uncertain, requiring superannuants to stay informed and potentially adjust their strategies.… read more
From alvarezandmarsal.com: Businesses must navigate increasing risks like shareholder capitalism and cyber wars by rethinking models and investing in technology for resilience.
Industry leaders excel by adapting to market changes and fostering innovation.… read more
From www.abl.com.au: Australia’s wealthiest individuals are increasingly adopting a strategic approach to philanthropy, moving away from one-off donations to more rigorous, long-term planning that mirrors their commercial practices.… read more
From sladen.com.au: A property buyer in Victoria, Ms. Sim, was denied an exemption from the foreign purchaser additional duty due to the property being legally transferred solely into her name, despite her Australian spouse funding the purchase.… read more
From www.pitcher.com.au: As the June 30 deadline approaches, individuals are encouraged to review their superannuation contributions to maximise available caps and benefits, particularly focusing on concessional contributions, which are capped at $30,000 and can be tax-deductible.… read more
From www.lowelippmann.com.au: Lowe Lippmann Chartered Accountants provides essential tax management tips for small business owners, including keeping accurate records, setting aside GST, and planning for BAS submissions.… read more
From atlaswealth.com: Six essential questions for Australians planning to move overseas include considerations about property investment strategies, share investments, the ability of current advisers to assist, tax implications in the new country, confirming non-resident tax status, and the effectiveness of estate planning.… read more
From williambuck.com: On January 1, 2025, the ATO implemented stricter Country-by-Country reporting rules, significantly reducing the number of exemptions available to multinational enterprises.
MNEs must now file a local file, master file, and CbC report to comply, with limited exemptions covering specific cases like Australian-only operations or corporate restructuring.… read more
From www.bantacs.com.au: Property investors should be aware of year-end tax strategies, particularly regarding deductions for general expenses and property repairs.
It’s essential to distinguish between repairs, which are deductible if incurred before the financial year ends, and improvements that are not.… read more
From www.heffron.com.au: Div 296 of superannuation legislation is being reconsidered, with potential implications for individuals with superannuation balances over $3 million starting from July 2025.… read more
From jbsolicitors.com.au: Polyamory is legal in Australia, but polygamy is not, and consent is needed from a married partner for a throuple relationship.
De facto relationships receive legal recognition, considering factors like cohabitation and financial dependence.… read more
From www.accountantsdaily.com.au: A recent Fair Work Commission decision overturned a small school’s refusal of a teacher’s request to work part-time after parental leave due to procedural errors.… read more
From www.themandarin.com.au: Prime Minister Anthony Albanese emphasised the need to restore Australia’s public service before pursuing major national reforms, following his re-election victory.
He highlighted issues such as a struggling immigration system, inadequate Veterans’ Affairs support, and a housing crisis that require immediate attention.… read more