Downsizer Super Contributions

11 Apr

The commencement date for the ability to make a downsizer contribution to top up your superannuation is fast approaching. If you are over 65 and are selling your home then, subject to meeting other criteria, a contribution into superannuation up to $300,000 per individual is available. A couple could therefore contribute up to $600,000.   […]

Small Business Superannuation Clearing House Changes

23 Jan
small business superannuation information sbsch changes 2018

SMALL BUSINESS SUPERANNUATION INFORMATION. Further to our recent communication regarding the upcoming changes to the Small Business Superannuation Clearing House (SBSCH), the ATO have now advised dates. On 26 February 2018 the SBSCH will only be available through the ATO’s online services. It will be the same service, just with a new look. The  SBSCH will be unavailable […]

$20,000 instant asset write-off for small business

18 Jan
small business accountants noosa tax returns

SMALL BUSINESS ACCOUNTING SERVICES NOOSA.  The $20,000 instant asset write-off for small businesses has been extended to 30 June 2018! The ATO small business newsroom released an article on 2 January 2018 stating the below: If you buy an asset and it costs less than $20,000, you can immediately deduct the business portion in your […]

Significant change to the ATO Small Business Superannuation Clearing House coming next month

10 Jan
small business superannuation information sbsch changes 2018

SMALL BUSINESS SUPERANNUATION INFORMATION. The Small Business Superannuation Clearing House (SBSCH) is a free service that can be used by businesses with 19 or fewer employees, or have an annual aggregated turnover of less than $10 million. A business’ Super Guarantee (SG) contributions can be made as a single electronic payment to the SBSCH.  The SBSCH then distributes […]

SMSF Investments in Bitcoin and other cryptocurrencies

15 Dec
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CRYPTOCURRENCY & BITCOIN ADVICE QUEENSLAND With the surge of Bitcoin being repeatedly in the headlines recently many investors, including SMSF Trustees, are considering investing in Bitcoin and other cryptocurrencies. So, can an SMSF invest in cryptocurrencies?  The brief answer is yes.  However, please read on! As in all things new to do with your SMSF […]

Small business tax concessions

24 Nov
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SMALL BUSINESS ACCOUNTING SERVICES NOOSA.  There have been recent changes to the definition of a small business entity. From 1 July 2016 a small business entity is a sole trader, partnership, company or trust that carries on a business (for at least part of the financial year) and has aggregated annual turnover less than $10 […]

Recovery of HELP debts from non-residents living overseas

10 Nov
help higher loan repayment program advice

THE AUSTRALIAN HIGHER EDUCATION LOAN PROGRAM (HELP). From 1 July 2017 the Australian Government has introduced new repayment obligations for Australians living overseas who have an outstanding Higher Education Loan Program (HELP) debt. This will bring the repayment obligations in line with those with HELP debts living in Australia.   Until now, people with a HELP […]

Changes to personal superannuation contributions

20 Oct
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PERSONAL SUPERANNUATION ADVISORS NOOSA QUEENLAND. From 1 July 2017 all individuals under the age of 75 are able to claim an income tax deduction for personal superannuation contributions made to a complying superannuation fund. Previously only individuals who derived less than 10 percent of their income from employment sources could claim this deduction.  Employees that […]

Foreign resident capital gains withholding payments

12 Oct
capital gains tax foreign residents

AUSTRALIAN CAPITAL GAINS TAX FOR FOREIGN RESIDENTS. Are you selling or purchasing a property with a value of $750,000 or higher?  If so, we suggest you contact your Stratogen Accountant to discuss the implications. Foreign residents and capital gains tax Currently the foreign resident capital gains withholding rules apply to real property disposals where the contract […]

Sell your home and use some proceeds to contribute to super… but BEWARE of potential negative implications!

05 Oct
non-concessional super contributions

NOOSA SUPERANNUATION ADVISORS SUNSHINE COAST. From 1 July 2018 a person aged 65 or over can make a non-concessional contribution into their superannuation fund of up to $300,000 from the proceeds of selling their principal place of residence. To be eligible for the proposal, you must have owned the property for at least 10 years […]