Tax Planning

Lamingtons and Second Handers

Last week we discussed changes to superannuation that were announced in this month’s Federal Budget. This week, we look at changes that have been announced regarding tax, especially for individuals and small business.

Our Home is Our Castle

When it comes to paying tax, our family homes have something quite important in common with Buckingham Palace.

Psst. I love you. Wanna Share our Super…

Most couples prefer not to think about ‘splitting.’ But, as the financial year ends, there is one form of splitting that happy couples can safely think about.

Winter means the end of the financial year!

Next week marks the start of winter and also the last month of what has surely been the most bizarre financial year in history. June 30 is a deadline for a whole range of things, so in this article we want to remind you of some of them. As the weather has gotten colder, why not make yourself a nice warm drink and read on.

Commonwealth Stimulus, Phase Two

Last week, we discussed the stimulus package that had been announced but not yet passed through Parliament. As we forecast, the Commonwealth Government then announced a second round of stimulus measures. Both packages were passed by Federal Parliament earlier this week.

A Time for Stimulation

Next week, the Commonwealth Parliament is expected to pass an emergency $17.6 billion stimulus package. The package is designed to boost the Australian economy – a boost that is needed due to the current and expected future impact of the Coronavirus. This article discusses the stimulus package.

Why is Capital Gains Tax the ‘Happy Tax’?

What would you think if we told you that there is a special type of tax that people are always happy to pay? Would you think we had dropped the ball? You shouldn’t. Read on…

Franking credits

The franking credit system is necessarily complex. But the idea underlying it is quite a simple one. A company’s profits are taxed at the applicable tax rate of each of its shareholders. This article explains exactly how.

Extra help when a child is disabled

Disabled children are treated as adults for tax purposes even if under age 18. This means that they can receive distributions of net income from family trusts and hybrid trusts. This income is taxed normally, rather than under the penalty tax arrangements that usually apply to the unearned income of minors. It can mean that the family pays much less tax.

Splitting super contributions between you and your spouse.

'Super splitting' is not just a term for managing super when a couple separates. Couples who remain together can also split super between themselves. This opens up a raft of planning opportunities, which we explore in this week's article.