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Superannuation Reforms on 1 July 2017 That might affect you

There are some significant changes to the superannuation rules coming into effect on 1 July 2017. Depending on your circumstances, there are several strategies that you might want to consider before 30 June. Here is a summary. If you want to maximise your super through Concessional Contributions (CC) – i.e. salary sacrifice or tax deductible […]

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State Tax Warning for Family Trusts

Recent changes to State laws may trigger a surprise tax bill for family trusts (discretionary trusts). The problem for family trusts stems from recent legislative changes in New South Wales (NSW), Victoria (VIC) and Queensland (QLD) that impose a surcharge on foreigners purchasing residential land. While that might not sound like a problem, the issue […]

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Would you buy a house with friends or relatives?

It’s not uncommon for friends and relatives to band together to capitalise on the investment property market. But what happens when it all goes wrong? The Housing Industry Association shows that it now takes 2.04 average full time salaries to comfortably service a standard mortgage on a median priced detached house in Sydney. So why […]

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What’s involved in selling your business?

Selling your business can be a stressful time and unless you’ve done it before, it’s hard to know what to expect or what’s required to get the right result. We’ve put together the top issues for business owners or investors to maximise their results. Understand what you are selling and the tax implications What you […]

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Making Sense of the Super Reforms

If you are waiting for the superannuation reforms announced in the Budget to pass Parliament before working out what they mean to you, you might miss out on any opportunities available. When enacted, the reforms will represent the single biggest change to superannuation since its inception. While there has been a softening of the original […]

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What Budget announcements will become reality?

The Coalition has formed Government but what happens now to all those Budget announcements? We take a look at what announcements are likely to pass Parliament and why. While the Senate count continues, like the last Parliament, the Coalition will not have a majority in the Senate. The Government needs the support of Labor, the […]

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The Handbag vs Briefcase deduction debate

If a man can claim a briefcase as a tax deduction why can’t women claim their handbags? After all, men often have a lot of personal items in their briefcases and working women are just as likely to carry their ipads, documents, and other work related items in their handbag. So, what’s the difference and […]

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