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Reviewing SMSF investment strategies

Whilst always important, reviewing the investment strategy of your SMSF in  these turbulent times, is even more critical so that the best possible investment choices can be made. Trustees need to prepare and implement an investment strategy that is centred on the requirements of the fund and its members. The strategy should enable the trustees […]

Turmoil… What does it mean for my business?

In our last newsletter we commented on how quickly things can change. None of us thought at that stage we would see the events of the last few months. However, the observations of massive change are not particularly helpful in themselves. The question is, what does this change mean for you. It is crucial that […]

Superannuation and business Real Property

In general, trustees of SMSFs are unable to acquire assets from related parties and may only maintain ‘in-house assets’ (i.e., assets involving dealings with related parties) when their value is less than 5% of the total value of the fund’s assets. However, an exclusion to these requirements applies in relation to ‘business real property’. When […]

Investing in volatile times

Recent volatility in the world investment markets can cause a lot of unnecessary anxiety for investors. At such a time, risks can be taken causing the loss of long-term, well earned benefits. Market downturns are inevitable and it is impossible to predict movements accurately. Moving in cycles It might be tempting to move money out […]

Money as a fringe benefit

The Australian Taxation Office (ATO) recently released two new interpretative decisions relating to Fringe Benefits Tax (FBT). They concern the payment of money to an employee’s associate (e.g. a spouse) and to an organisations social club and whether those payments attract FBT. A ‘fringe benefit’ is a benefit provided by an employer to an employee […]

Making the most of your holiday house

With the weather warming up and the holiday season just around the corner, many Australians will soon be heading to their home-away-from-home. Holiday houses can be a wonderful place of retreat whilst also being a worthwhile investment. Rental income Renting out your holiday house has advantages. However, you must declare the rent and claim the […]

Property sales and GST

In most cases, the sale of the family home does not attract GST. However, there may be GST implications for the sale of other properties. GST is charged on the supply of goods and services that are ‘taxable supplies. You make a taxable supply if: You get paid for it (either money or barter) and […]

Rental property repairs

What is a deductible repair? The ATO has released a document to assist owners of rental properties when claiming deductions for repairs. A repair is usually ‘occasional’ and ‘partial’. Repairs typically replace a part of something or restore something to its original working order. For example, a repair includes fixing a window that has been […]

Jointly owned negatively geared investments

A recent Australian Taxation Office ruling on salary packaging has created the opportunity for potential tax benefits. It affects couples who jointly own negatively geared investments, such as a rental property or a share portfolio. It was previously thought that if a taxpayer salary sacrificed the expenses associated with a jointly-owned investment then only half […]

Succession planning – Keeping it in the family

Are you planning to retire from a family business or know someone who is? One of the most significant challenges to the owner of any family business is planning for the future and how to best transfer share ownership to the next generation to ensure the business continues and provides family security for surviving family […]