Blog

GST Updates Affecting Private Clients and Private Business Owners 23rd May 2017

From 1 July 2018, purchasers of newly constructed residential properties or new subdivisions will be required to remit the GST directly to the ATO as part of the settlement. ...

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Australian Federal Budget Review - May 2017 9th May 2017

This year Australians get no dramatic changes to the tax laws but the Turnbull government has done a lot of tidying up. The most prolific changes are to personal taxes, but some important announcements that affect businesses and investors, especially foreign investors, were also made. ...

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Effective Fringe Benefits Tax Strategies 3rd May 2017

As a result of legislative changes that have occurred over the last four to five FBT years, the taxable value of fringe benefits has been increasing year upon year. This is particularly with respect to car fringe benefits calculated under the statutory formula method....

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CGT Small Business Retirement Exemption 21st April 2017

Small businesses can access a range of tax concessions, including payment and reporting options. These concessions can apply to small business sole traders, partnerships, companies or trusts.The four capital gains tax (CGT) concessions can be invaluable, allowing you to reduce or even remove CGT costs for some business transactions that result in capital gains....

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Key Aspects of CGT Relationship Breakdown Rollover Relief 21st April 2017

The capital gains tax (CGT) rollover relief for marriage or relationship breakdown is, suffice to say, highly significant for people who are experiencing the trauma of a relationship breakdown; especially where substantial assets may be involved....

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ATO Update On Super Reform 20th April 2017

On the 22nd March, the ATO published three guidance notes, each explaining the change, what actions need to be done before 30 June 2017 and after 1 July 2017 and also practical examples how the changes will apply....

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New generation of SMSF investors likely to disrupt the industry 6th April 2017

The CommBank SMSF Report, released today, shows a new generation of SMSF investors is breaking the stereotype of the experienced and financially confident professional or entrepreneur who makes their own investment decisions. The research identifies four types of SMSF investors, each with their own distinct motives and decision-making preferences: Outsourcer, Coach Seeker, Self-Directed Investor and Controller....

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Proposed changes to superannuation reform legislation 5th April 2017

LRBAs to count towards members total superannuation balance and transfer balance cap....

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Kelly+Partners Taxwise Individual News: April Edition 3rd April 2017

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What is a public ancillary fund? 16th March 2017

A public ancillary fund is a communal philanthropic structure that helps you take a planned approach to your giving. While a private ancillary fund (often referred to as ‘PAF’) is a ‘DIY’ philanthropic structure, a public ancillary fund has the administration, investment and governance activities as the responsibility of the trustee, leaving donors solely to think about the charities they would like to support....

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