Can’t Buy Me Love: Conscientious Coupling and Binding Financial Agreements
The breakdown of a relationship is frequently ranked second, after the death of a loved one, as one of life’s most stressful events. With a third of all Australian marriages ending in divorce, and similar statistics in other countries, it’s little wonder that “conscious uncoupling” has become the ideal divorce strategy (and not just for celebrities). […]
Top mistakes Aussies make when setting up an SMSF
In a speech given earlier this month, ATO assistant commissioner Dana Fleming highlighted seven key mistakes SMSF trustees make when establishing their funds. Despite the continued growth in SMSF membership, key mistakes are still being made when it comes to the set-up of funds, the ATO has revealed. Ms Fleming said that common errors include […]
Catch-up Concessional Contribution Caps
The ATO has released details of Catch-up concessional contribution caps to the effect from 1 July 2018. New concessional contribution ‘catch-up’ measure From 1 July 2017, the maximum amount of concessional contributions you can put into your account each year will be $25,000 per annum for all age groups. Then commencing 1 July 2018, there is a […]
Setting Up Your SMSF
If you’re thinking of setting up your own self-managed super fund (SMSF), to take charge of your retirement and be able to make investment decisions, there are some important steps you have to take before you seek registration with the ATO such as choosing between individual trustees or a corporate trustee, creating the trust and trust […]
Improvements To GST Risk Assessment
The Inspector-General of Taxation (IGT) has recently released his review into the verification of GST refunds by the ATO. The review was initially conducted as a response to concerns raised by taxpayers which had their GST refunds delayed as a part of the ATO risk assessment program to verify certain details before refunds are issued. Broadly, […]