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How Various Superannuation Investment Options Performed |
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The Australian Securities and Investments Commission (ASIC), has published the average return for various superfund investment options for the year ended June 30, 2006. Find out more about these figures
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Time for self managed superannuation funds to put their assets in order |
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The trustees of self managed superannuation funds (SMSFs) must ensure that the fund’s assets are appropriately recorded, or risk coming under tax office scrutiny.
Find out what the tax office is on the lookout for |
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Superannuation (Surcharge Rate Reduction) Amendment Bill 2003 |
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Government agrees to alter surcharge, co-contribution measures and what was passed by the Senate with amendments |
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How to spot a financial scam |
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Could you fall victim? Do you know how to spot the clues? In the past three years, over 7000 Australians have lost at least $500 million to financial scams. |
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Taxpayers' Charter revised |
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The revised Taxpayers' Charter was released on the 3rd November 2003 - it sets out what the community can expect when dealing with the Tax Office |
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Employer Quarterly Superannuation Reporting Requirements |
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We have previously discussed the obligation for employers to remit SGC quarterly. But do you know the reporting requirements? |
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$1.8bn At Stake - A Warning to Investors |
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The Australian Securities and Investments Commission (ASIC) has warned people interested in interest-bearing investments, especially retirees looking for secure returns, to take extra care with investments offering higher than usual returns |
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Loyalty Programme Tax |
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Most of the time, there is no tax payable on the rewards you receive from consumer loyalty programmes. That is most of the time. Are YOU liable for tax on your loyalty programme rewards? |
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Corporate Director's Duties. |
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The primary directors' duties include care and diligence, act in good faith, not to make improper use of position and not to make improper use of information |
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DIY Super - Not Your Money Yet |
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So, you have your own DIY Super Fund? Discover what you can and can’t do with the money |
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Tax Refund Tips |
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It's very tempting just to blow your tax refund. But even small amounts paid off a debt or into super can make a big difference in the long run. So how can you make the most of your tax refund |
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Tax Office Expands Compliance Work |
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The ATO is becoming increasingly concerned about lack of taxation compliance in several areas. Find out what ATO inspectors will be looking for in this years tax returns |
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Claiming Expenses - The Common Errors |
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With billions of dollars being claimed this year in work related expenses, the Tax Office will be checking for common errors. They are easy to avoid, if you know what to look out for |
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Have Your Say |
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Not happy with the performance of a company in which you hold shares? Feel that there is nothing you can do to influence their performance? You CAN influence company performance, and it’s not as hard as you may think. |
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You CAN Get Rid of The Paper! |
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Are you tired of having to keep boxes of paper for years and years in case of a tax audit? Well, as long as you follow some simple guidelines, you can get rid of the paper and keep electronic records. |
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Retirement Income Streams |
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Making the decision to retire is a turning point in most peoples lives. Probably more important is working out how you will fund your retirement. Income stream products have certain advantages and disadvantages |
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Make an Extraordinary Difference to Your Money |
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ASIC has released a booklet detailing how a person with an income of $36,000 per annum stands to loose $790,000 in wealth over their lifetime. Discover how to avoid those bad decisions. |
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Does Your Super Fund Comply? |
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The tax office is contacting all small funds which do not currently meet the definition of a self managed super fund. If you are contacted, you only have until the end of November to respond… |
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One Off Chance to Clear Tax Debts |
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The Commissioner of Taxation is offering certain small businesses and individuals a one-off opportunity to clear their outstanding tax debts on favourable terms |
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Beware “Wrong Number” Answering Machine Stock Tips! |
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You come home from work and find a message on your answer machine from someone you don't know. It's obviously a wrong number, but in the message the caller tells her friend about a hot investment tip. It's most likely part of the 'pump & dump' scam. |
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Look after your Money This Christmas |
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Sadly, the Christmas period seems to encourage scams and schemes when people often have extra income from bonuses, leave loading, retirement nest eggs and other similar sources. Here's some Christmas financial tips and safety checks |
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Work Christmas Parties and FBT |
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Did you know that providing gifts at your staff Christmas party could mean that your staff will have to pay Fringe Benefits Tax on the meal and gift? Tax requirements relating to Christmas Parties is complex, but there are some basics that you should understand… |
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Avoid Financial Hangovers this Christmas |
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Getting into debt is far easier than getting out of it. By planning your Christmas spending now, you can avoid piling up unmanageable credit card debts |
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Consolidating Debts - What to Watch Out For |
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Debt has become very easy to get into and it's easy to over-extend yourself. If you have a debt problem, rolling all your loans into a single loan can sound very attractive. But is this really that attractive |
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Self Education Expenses |
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If you have self-education expenses that relate to earning your income, you may be able to claim them as tax deductions |
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Lost Superannuation |
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The Tax Office is embarking on a long term project aimed at helping reunite individuals with their lost super accounts. It involves a mass mailout, and an online resource available to everyone |
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Non Commercial Losses - Don't Get Caught |
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The non-commercial loss provisions may prevent you from deducting business losses against your other income. How does this affect you |
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New Early Start for Child Care Rebate |
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The Government will assist families further with the cost of child care by backdating the introduction of a new 30 per cent Child Care Rebate to 1 July 2004, enabling families to claim an extra six months of out-of-pocket costs |
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Tax Bills Due |
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More than 500,000 people who used a tax agent to lodge their 2004 tax return have income tax bills that are due on Tuesday 22 March |
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Poor Record Keeping Penalties |
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Businesses who continue to keep poor records, despite warnings from the Tax Office, will face penalties. Are your records adequate |
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Aid for Victims of the Tsunami |
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If you donated cash or goods to benefit victims of the Indian Ocean tsunami, your gift may or may not be tax deductible. Find out your status |
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High Yield Property Debentures |
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High return fixed interest investments offered through prospectuses are being advertised. Recent media reports of uncertainty in the property market could be a timely reminder to check you're still comfortable with the potential risks and rewards these investments may offer |
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How Superannuation Exit Fees Could Affect You |
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If you try to move funds out of an 'old style' or 'legacy' superannuation account from the 1980s and 1990s you may have to pay a significant exit fee |
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Medical Expenses Tax Offset |
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You may be eligible to receive the medical expenses tax offset, if your out of pocket medical expenses exceed a specified threshold in an income year |
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Choice of Superannuation Fund |
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From 1 July 2005, millions of Australians will be able to choose the super fund that works best for them. It’s your money, you should have a say in where it goes |
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Super Co-contribution Reaching More People |
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Recent changes to the Super Co-contribution mean that from the 2004-05 financial year more individuals may be eligible. Are you one of them |
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Fake International 'Regulators' help Swindle Australians Investing Overseas |
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'Set up by fraudsters, fake regulator websites are part of the elaborate window-dressing designed to trick Australian investors into buying worthless shares from unlicensed, overseas-based stockbrokers', ASIC Executive Director of Consumer Protection, Mr Greg Tanzer said |
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Changes to Substantiation of Work Related Expenses |
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Taxpayers who do not have a traditional receipt for work-related expenses, but can prove the expense from other records such as online banking and credit card statements, may still be able to claim a tax deduction |
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Tax Office Prepares for New Withholding Tax Rates |
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Due to uncertainty about what rate of tax is to be withheld from employees’ salaries from 1 July 2005, the Tax Office recently released two alternate sets of formulas to help software providers implement new withholding tax rates |
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FBT Returns - The Common Errors |
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The processing of FBT returns is often delayed because of some common errors which can be avoided. Find out what these errors are, and how to avoid them |
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ATO Targets Non-Compliance |
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The ATO is seeking to improve compliance by getting people to focus on the risk associated with particular behaviour or approaches. There are certain areas which will be under the spotlight over the coming months |
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Reportable Fringe Benefits – Facts for Employees |
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If you have reportable fringe benefits amounts appearing on your payment summary, do you know the consequences of having this amount shown? Find out how this affects you |
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30% Child Care Tax Rebate |
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In addition to the Child Care Benefit (CCB) you may be receiving, did you know you may also be eligible to receive the recently announced 30% Child Care Tax Rebate? Find out more |
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SMSF – Securing the Assets of the Fund |
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Trustees must ensure that the fund’s ownership of its investments is assured. This article outlines the requirements for keeping assets in the name of the fund |
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Division 7A of Part III of the Income Tax Assessment Act 1936 |
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Time to target negative gearing |
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Tax office auditors looking at work related expense |
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Changes to lodgement of Activities by Phone and Fax |
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