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Good CGT records can save you money
Congratulations! Your investment has done well, and you're cashing in. You're happy, and so too is the ATO. That substantial capital gain has brought wealth and a hefty tax bill. Sharing might be part of the deal but when it comes to your hard-earned profits, you might prefer to keep the ATO's share to a minimum. Read more...here.
Concessional Super Contributions vs Mortgage Paydown: What's the smarter move?
If you have some extra cash, you might be deciding whether to make a concessional contribution to your super fund or use it to pay down your mortgage, whether on your home or holiday house. Read more...here.
Writing a will in a tax-effective manner
When a person writes a will they usually leave their assets to their children - and usually equal shares. And when they first write their will their children may be young- and they may also be relatively young when they later update it. However, there is a potential capital gains issue lurking here. Read more...here.
Binding Death Benefit Nominations explained
When it comes to superannuation, many people assume that their retirement savings will go to their loved ones when they pass away. Sadly, this isn't always the case. Read more...here.
Small-scale subdivision and property development
So, you have decided to knock down your home and build a couple of townhouses instead - and maybe live in one (but will just wait and see how things pan out). Likewise, you may have decided to subdivide your large backyard to do a similar thing. Read more...here.
you may have received an email like the one below from the tax office
The Tax Office is pushing on with its move towards eliminating communications via the Post. If you lodge any activity statement or related document electronically, whether via us as your tax agent or using the Business Portal then the Tax Office will work on the basis that all future communications related to BASs, IASs, PAYG instalment notices, etc. will be via electronic means. The same result will occur if you link your myGov account to the Tax Office.
If you expect to receive a quarterly BAS/IAS/PAYGI notice and you haven't by two weeks before it is due for lodgement/payment please contact us to confirm your contact details with the Tax Office or to organise the restoration of supply of hard copy statements via the Post.
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