Julia's Blog
By Julia Hartman
(Download PDF) Well not much to report this year! Our annual budget blog concentrates on giving the detail on issues that affect our clients tax, income, superannuation and businesses. Afterall you can read about the hype anywhere it is getting the detail and how it affects you that we are looking to provide. This budget …
It is pretty clear, by the concessions available in the legislation, that it is the aim of the government to allow farmers to hold their farms in a SMSF. Nevertheless, it is far too easy to slip off the narrow path so make sure you get good advice right from the start. This blog will equip you with enough knowledge to judge a competent advisor.
Burning your money is probably illegal but if you are a pensioner it might save your franking credits. Under the proposed policy by the Labor party, franking credits will not be refundable unless you qualify for the pension. This is certainly a big incentive to qualify for the age pension. Let’s look at an example. …
How Franking Credits are Created: In simple terms, imagine an Australian company makes a $100 profit. It pays $30 tax on it and pays a $70 cash dividend to its one shareholder, an Australian resident. The shareholder also receives a tax credit for the $30. As a result, the shareholder declares $100 in income in …
Holding property in your own superannuation fund is not for everyone but can be well worth considering for the tax benefits and asset protection advantages. This blog is food for thought to prepare you for a discussion with your Accountant, make sure you have that discussion before you sign a contract. I make clients who …