With all the media coverage around the negative behaviour of many large financial advisory firms and their affiliates, you may be forgiven for wanting to deal with a smaller, perhaps more independent financial adviser in the future, but what exactly does “independent” mean in in terms of financial services? Under the Corporations Act, a person who […]
In Australia, there are currently around 7.7m ABNs with over 860,000 new ABNs issued in 2017-18. The ABN system was originally introduced in 2000 as a way to provide businesses with a unique identifier when dealing with the government and to support the introduction and administration of GST. Over the years, the ABN has become a […]
Do you ever wonder what happens to your superannuation after you die? This is particularly important if you have a Self-Managed Superannuation Fund (SMSF). To assist SMSF members to understand the requirements of the superannuation and taxation laws, the article – by Monica Rule (an SMSF expert) has provided answers to common questions asked by […]
It might seem like a horror movie cliché, a monster that follows you wherever you go, but did you know that your higher education debts under the Higher Education Loan program (HELP), Trade Support Loan (TSL) or the Higher Education Contribution Scheme (HECS) debts follow you wherever you go in the world? Prior to 2017, […]
Are you paying the right amount of super for your employees? It’s that time of the year again, where the Australian Bureau of Statistics (ABS) release the indexation factors that are critical in determining various superannuation thresholds. While the super guarantee is still frozen at 9.5%, the maximum contribution base will increase to $54,030 per quarter […]
An “unnecessary array” of taxes and inefficiencies has been presented to the government, but the road to reform continues to be hindered by the political system, according to the Tax Institute. Facing a parliamentary standing committee, Professor Robert Deutsch, the Tax Institute’s senior tax counsel, welcomed the opportunity to showcase a number of issues in […]
DATE: TUESDAY 28 AUGUST 2018 TIME: 10am to 1pm WHERE: Level 4, 83 Mount Street, Sydney 2060 RSVP: admin@hurleyco.com.au or 9954 3843 Kate Hurley or Juilee Sathe ALL HURLEY & CO CLIENTS WELCOME Drop in anytime between 10am and 1pm. Bring with you your laptop or use one of ours. […]
What is it? Since 1 July 2017, the ATO has a limit on the amount that can be transferred into the pension phase in superannuation. This is called the Transfer Balance Cap and it is currently $1.6million across all retirement phase pensions in all funds over the individual’s lifetime. TBAR enables us to record and […]
The Research and Development (R&D) tax incentive is an offset designed to encourage eligible companies to undertake R&D activities that are likely to benefit Australia’s wider economy. It provides a tax offset to eligible companies that conduct eligible R&D activities which are classified as experimental activities that are conducted in a scientific way for the purpose […]
It’s tax time again, as you gather your receipts and other assorted tax documents, you should also turn you mind to what the ATO is paying close attention to this year. This year, the ATO is focusing on taxpayers who claim “other” work-related expense deductions at label D5 on individual tax returns. According to the […]