Can you buy property with your Self Managed Super Fund?
Can you buy property with your Self Managed Super Fund?. For many Australians, investing in property has led to the biggest gains in capital growth. The Australian property market has shown strong growth over the past few decades, leading many to consider using their...
Should a discretionary trust have individual or corporate trustees?
Should a discretionary trust have individual or corporate trustees?. When setting up a discretionary trust, one of the most important decisions you'll face is choosing the right trustee structure. Whether you opt for a corporate trustee or an individual trustee can...
How to reduce your Capital Gains Tax (CGT) with the 6-year rule
How to reduce your Capital Gains Tax (CGT) with the 6-year rule. If you’re considering selling your property, it’s crucial to understand how Capital Gains Tax (CGT) might apply to the profit from your sale. This tax could significantly affect your annual income and...
What trust distributions to adult children can be questioned under Section 100A?
What trust distributions to adult children can be questioned under Section 100A?. The Australian Taxation Office (ATO) is scrutinising trust distributions where parents may be taking advantage of their adult children’s lower marginal tax rates to reduce the overall...
Are your trust distributions to grandparents at risk under Section 100A?
Are your trust distributions to grandparents at risk under Section 100A?. When distributing trust income to grandparents, who may often be retired or on a lower income, there are tax considerations to keep in mind, especially under section 100A of the Income Tax...
The role and importance of SMSF Accountants
The role and importance of SMSF Accountants. As the trustee of a Self-Managed Superannuation Fund (SMSF), you are responsible for managing and complying with all legal obligations associated with your fund. An SMSF accountant is essential in helping trustees like you...
How the proposed Div 296 tax could affect your super balance over $3 million
How the proposed Div 296 tax could affect your super balance over $3 million. When managing your superannuation balance, it's important to understand how the Division 296 tax could affect you, especially since it includes unrealised gains or losses. The 15% Division...
How does Div 7A impact distributions to a Bucket Company?
How does Div 7A impact distributions to a Bucket Company?. Trustees of discretionary trusts often distribute income to private companies, commonly called 'bucket companies.' This strategy can be tax-effective because it limits the tax on the distributed income to the...
When can Section 100A apply to block a trust distribution?
When can Section 100A apply to block a trust distribution?. How section 100a affects trust income taxation Section 100A is an anti-avoidance rule under the Income Tax Assessment Act aimed at preventing tax avoidance through certain trust arrangements. It comes into...