Rental property tax considerations for property investments
Rental property tax considerations for property investments. Cameron recently bought a coastal property in Byron Bay, listing it for short-term rentals while managing his construction business in Brisbane. His aim is to maintain it as a long-term investment that also...
Instalment Activity Statements (IAS) for Individuals & Businesses
Instalment Activity Statements (IAS) for Individuals & Businesses. What is an Instalment Activity Statement? An Instalment Activity Statement or IAS is a pre-printed document sent out by the Australian Taxation Office (ATO) each month which applies to you if you deal...
Maximising Your Returns: Exploring the Benefits of Franked Dividends in Australia
What is a Franked Dividend and How does it work?. Franked vs unfranked dividends — When the company issuing the dividend has paid tax, the investor who holds the shares will receive a franked dividend with a franking credit attached to it. The franking credit is a...
ATO Client to Agent Linking: Protecting Your Financial Security
ATO Client to Agent Linking: Protecting Your Financial Security. If you're thinking about changing accountant, it's important you're aware of recent changes the Australian Taxation Office (ATO) is introducing that will impact you. As of 13 November 2023, the ATO has...
Understanding Division 293 tax: Impact on high-income super contributions
Understanding Division 293 tax: Impact on high-income super contributions. If you're a high-income earner, understanding the Division 293 tax and its impact on your super contributions is crucial. This tax, also known as Division 293 tax, imposes an additional...
Average retirement age in Australia
Average retirement age in Australia. Retirement in Australia Retirement refers to the period in life when one stops working and begins to draw on their superannuation, which is a fund set up to provide money for retirement. The age at which you can access your super...
Understanding the tax implications of your Principal Place of Residence in Australia
Understanding the tax implications of your Principal Place of Residence in Australia. Your Principal Place of Residence (PPOR) is the main place where you live. This could be a house, flat, home unit, or even unconventional spaces like a caravan or houseboat....
Directors guide to voluntary administration – TMS Financials
Directors guide to voluntary administration - TMS Financials. Voluntary administration is a process where an independent voluntary administrator assumes control of a company in financial difficulty or on the brink of insolvency. This crucial step provides the company...
Understanding the bring forward rule for better retirement planning
Understanding the bring forward rule for better retirement planning. The bring forward rule, also known as the bring forward arrangement, is a strategic method to increase your superannuation contributions, particularly your non-concessional contributions, within a...