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 CLEARING HOUSE (SBSCH) INFORMATION – A FREE SERVICE. 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 […]

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 […]

Small business tax concessions

24 Nov
small business accounting services noosa

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
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 […]

Small business accounting : Simpler BAS from 1 July 2017

04 Jul
tax return bas preparation noosa

SMALL BUSINESS ACCOUNTANTS & BAS PREPARATION NOOSA. From 1 July 2017, the ATO are reducing the amount of information required to report on Business Activity Statements for small businesses. Aptly named ‘Simpler BAS’ will be the default GST reporting method for small businesses with a GST turnover of less than $10 million. What small businesses […]

Self Management Super Fund (SMSF) Deed Update

30 May
self managed super funds information

SELF MANAGED SUPERANNUATION FUND (SMSF) INFORMATION. There have been significant changes to the legislation relating to superannuation in recent years with many of these changes effective from 1 July 2017. It is prudent to have an up to date trust deed to ensure your SMSF can take advantage and/or be compliant with all of the […]