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5 SMSF Tax Strategies to consider prior to 30th June

Don’t leave it too late – review your Self Managed Superannuation Fund tax strategies now and seek advice before the 30th of June. The Double Dip: Your June contributions that are tax deductible this year can be allocated across two years.  This is a good strategy if you have had a good year or made …

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Planning to claim a Tax Deduction for Superannuation? Read this:

It’s always been handy to be able to top up your Superannuation each year with additional payments.  Even better that you are able to obtain access to some tax deductions.  There are a few really important things to keep in mind though: Ensure you don’t accidentally pay more than the annual allowable limit for the …

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$150,000 Asset Instant-Write-Off reduced to $1,000 at 1st July 2020

So whilst we are all racing about like headless chooks dealing with Job Keeper here I am today asking you to examine your asset purchasing strategy as soon as you can. This is mostly as the incredibly generous $150,000 instant write off only carries through to the 30th of June 2020. On the 1st of …

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Jobkeeper wages judged by the FORTNIGHT – Are your employees eligible for BOTH of May’s Jobkeeper payments?

If you have enrolled and are eligible for Jobkeeper payments you would know that June 1st 2020 you can make your claim for your job keeper payments. HOWEVER – unlike last month where you could do a make up pay for the whole month – you needed to have paid a gross of $1500 in …

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Why you MUST do a Trustee Distribution Resolution BEFORE 30th June each year …

Remember the story of Cinderella? She had to be home before the stroke of midnight else she would be reduced to her rag dress, a pumpkin for her coach and mice for her horses…. Welcome to Trust Distribution Statements.   What is a Trust Distribution Statement? If you have a discretionary trust (unlike a unit …

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Commerical Lease in CONVID? Here is the Code

The Government has finally released a code for SME Commerical Leasing Principals during COVID-19. I have taken excerpts from the code directly.  The link to the entire code is here. Leasing Principles In negotiating and enacting appropriate temporary arrangements under this Code, the following leasing principles should be applied as soon as practical on a …

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