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12 month Superannuation Guarantee Amnesty in force from 24 May 2018 to 23 May 2019

06 Jun
superannuation guarantee amnesty information

INFORMATION ABOUT THE SUPERANNUATION GUARANTEE AMNESTY.  A 12 month Superannuation Guarantee Amnesty is currently in force and will continue to run until 23 May 2019. Please note the legislation is currently before parliament and is yet to receive Royal Assent. What is the Superannuation Guarantee Amnesty? The amnesty provides concessions for employers to come forward […]

Can you claim travel to your investment property as a tax deduction?

25 May
investment property tax deductions travel expenses

TRAVEL EXPENSES AND PROPERTY INVESTMENT TAX DEDUCTIONS. From 1 July 2017, property owners cannot deduct an outgoing for travel related expenditure to the extent that it relates to residential property/premises. Therefore airfares, accommodation and motor vehicle expenses incurred to travel to a residential rental property for inspection and/or maintenance purposes will no longer be tax […]

New reporting obligations for self-managed super funds

04 May
self managed super funds information

SELF MANAGED SUPER FUNDS AND INFORMATION AND ASSISTANCE. Some self-managed superannuation funds (SMSF’s) will be subject to new reporting obligations imposed by the ATO.  These new reporting obligations, TBAR (transfer balance account reports) will come into force from 30 June 2018, and will be separate and additional to the SMSF annual return that is lodged […]

Downsizer super contributions

11 Apr
downsizer super contributions

INFORMATION ABOUT DOWNSIZER SUPERANNUATION CONTRIBUTIONS. 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 […]

SMSF investments in Bitcoin and other cryptocurrencies

15 Dec
bitcoin advisor queensland

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 […]

Changes to personal superannuation contributions

20 Oct
superannuation advisors noosa

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 […]

No deduction for residential rental property travel expenses

25 May

Travel expenses related to inspecting, maintaining or collecting rent for a residential rental property will be disallowed from 1 July 2017. The Government said that this change is designed to address concerns that many taxpayers have been claiming travel deductions without correctly apportioning costs, or have claimed travel costs that were for private travel purposes. […]

The Reserve Bank of Australia has again decided to leave the official cash rate at 2.00%.

03 Feb

The Reserve Bank of Australia has again decided to leave the official cash rate at 2.00%. This approach was predicted by many commentators as the Reserve Bank assesses the impact of the lower Australian dollar, falling fuel prices, a volatile share market and a slowing housing market. The lower Australian dollar and resultant increase in […]