on 24 July 2019
Entertainment expenses - what can I claim?
The days of the Long Lunches of the 1980s may be well behind us, but there is still a lot of confusion around when entertainment expenses can be claimed as a tax deduction and how this interacts with Fringe Benefits Tax (FBT). It can be easy to make mistakes that can add a lot to your business's tax bill!
When is food and drink (and other entertainment) deductible?
It can be difficult, at first glance, to determine w...
on 11 June 2019
Don't lose your life insurance in super!
You may have recently received a letter from your super fund, suggesting that your insurance may be cancelled. This is a result of new Federal legislation passed earlier this year. The objective of this legislation is to ensure that people are not paying for insurance that they do not need. The assumption is that people who are no longer contributing to a super fund, most likely also no longer need the insurance available through these funds...
on 29 May 2019
With the uncertainty of the federal election now out of the way, we can look forward to some significant reforms to Australia's existing tax system.
The Morrison Government went into the election with a comprehensive suite of tax proposals and these are now likely to pass swiftly through Parliament, as the Opposition has indicated it will support the legislation.
So just what are the changes we are likely to see when it comes to both our personal tax and the taxes that apply to sm...
on 8 May 2019
What could change for taxpayers after the Federal Election?
With the Federal election only weeks away, both major parties have set out their plans for taxation of superannuation, especially as it relates to SMSFs. There are also new taxation plans for individuals and trusts. But it can be hard to wade through all the policy speeches and interviews, so here is a quick summary of the current law and the possible changes to come after the election:
Comparison of policy...
on 13 March 2019
February 2019 Review - Markets continue strong recovery
The share market recovery experienced in January picked up further pace in February with leading indices across the globe recording solid gains. Some of the notable developments for the month included:
Positive sentiment stemming from the hope of a trade agreement between the US and China
Global bond yields remained steady, while Australian yields fell
The benign outlook for interest rates supported listed i...