Small business plays a central role in Australia’s economic fortunes — so much so that the government has seen fit to give smaller enterprises a break on a range of tax considerations, including specific concessions for capital gains tax. Make sure you qualify — and if you do, make sure you don’t miss out.
Thousands of Australians head overseas each year to work, but there is often confusion about one’s residency status while doing so, and the tax implications that can arise. We run through the variables and clarify the issues.
There are self-managed superannuation funds (SMSFs), but another option for your retirement savings are small APRA funds (SAFs). We look at the differences, and the similarities, to see which one suits your circumstances. Also covered this month; the R&D Tax Incentive, the ATO’s small business compliance “hit list”, and how self-funded retirees can still get a concession card.
Should you require more information regarding any topic touched upon in this newsletter, please feel free to contact MBS to discuss the details.
Disclaimer & Copyright: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. The Copyright is owned exclusively by Taxpayers Australia Inc (ABN 96 075 950 284)