How Section 100A changes affect trust distributions to adult children and grandparents. Section 100A Section 100A is an anti-avoidance rule in Australian tax law. It can apply when a beneficiary’s trust entitlement arises from a reimbursement agreement. A...
How S.100 changes affect controllers of a discretionary trust. What is Section 100A? Section 100A (S.100A) functions as an anti-avoidance measure embedded in the framework of the Income Tax Assessment Act 1936. Its purpose is to address situations where one individual...
Understanding the Family Tax Benefit (FTB): Eligibility, amounts, and supplemental support. The Family Tax Benefit is a two-part government payment that assists families with the costs associated with raising children. The first tax benefit, Part A, is per eligible...
Navigating the Super Guarantee Charge: A Comprehensive Guide for Employers. Understanding and fulfilling your obligations related to the employee's super guarantee is vital as an employer. To avoid any extra fees, such as the administration fee or nominal interest for...
Recent ATO guidelines: Section 100A and Family Trust Distributions. What is Section 100A (S.100A)?Section 100A, also known as S.100A, of the Income Tax Assessment Act 1936 is an anti-avoidance rule in Australian tax law. This pertains to a 'reimbursement agreement' in...
What is a Superannuation Standard Choice Form?. Super Choice, short for Superannuation Standard Choice Form, is used to let employers know their employee's selected superannuation fund. Superannuation funds, often referred to as super funds, are a type of fund that...
Super Due Dates. As an employer, you have specific responsibilities to fulfill regarding superannuation contributions for eligible employees, who are essentially those classified as employees under superannuation regulations. One such responsibility is supplying your...
Understanding Stamp Duty (NSW): A comprehensive guide for property buyers. Stamp duty, or transfer duty, is a tax that most purchasers are obligated to pay when acquiring a residential property or vacant land in Australia, including NSW. The NSW government imposes...
Understanding how to withdraw super. What is superannuation?Superannuation, commonly referred to as 'super,' is a long-term investment designed to provide financial stability during your retirement years. It functions by pooling funds into a super account, which is...
