Professionals

Late last year a number of superannuation changes passed parliament and take effect from 1 July 2017. These changes are likely to significantly impact a number of our clients, particularly; Individuals in Transition-to-Retirement, Retirees with more than $1.6 million in superannuation already, Individuals under 65, with significant assets outside superannuation who have not triggered the 3-year NCC bring-forward rule in... Read more

Employers are entitled to discipline employees for certain out-of-hours conduct. Social media has changed our communication norms. Whilst sometimes these communications resemble ‘word of mouth’ conversations, they are set out in written form, in many cases for the world (and employers) to see. Social media interactions made outside work on personal accounts can have a significant impact on the employment... Read more

There has been an increase in demand for investment bonds in Australia as clients are seeking tax-effective strategies besides superannuation and corporate structures. An investment bond (or insurance bond) is an efficient long-term savings vehicle which operates similarly to a managed fund, where investors can choose from a range of investment options to suit their risk appetite and objectives, but... Read more

Special Professional Income Averaging (SPIA) allows individuals in certain professions to average their income over a four-year rolling period. SPIA is likely to result in lower tax rates for special professionals whose income tends to rise and fall. This concessionary tax treatment ensures an individual is not paying additional tax due to the irregular nature of their work or income.... Read more

By Shane Oliver, Head of Investment Strategy & Chief Economist from Oliver’s Insights, AMP Capital, Edition 28 2016 Key points The mostly gloomy debate around the Australian economy often gives the impression we are in a constant state of crisis. But economic growth is pretty good, the economy has rebalanced without the (“inevitable”) recession, the worst of the mining bust... Read more

Despite an increasing number of women participating in the workforce, there are still significant differences between men and women in terms of superannuation balances at retirement – the so called gender retirement savings gap. As superannuation contributions are largely linked to employment or business income, those who have lower income, work part-time, or have time out of the workforce, will... Read more

Stamp duty has been a significant barrier to business owners wanting to restructure their business assets. There were many instances where the costs of transferring from one business entity into another (e.g. from a sole trader or partnership to a trust or company structure) were prohibitive because of the amount of stamp duty that was involved. From 1 July eligible... Read more

Starting a new business, or expanding an existing one usually requires significant funds. Securing a bank loan to enable cash flow is one option, however in our experience the banks are so risk averse that their requirements for real estate security to cover their exposure can make this option unpalatable. Consequently business owners often fund start-ups using their personal financial... Read more

New rules will apply to sellers of certain taxable Australian property under contracts entered into from 1 July 2016. The new legislation imposes a 10% non-final withholding obligation on the purchaser of certain taxable Australian assets when they believe the vendor is a foreign resident. Purchasers will be required to pay 10% of the purchase price to the ATO which... Read more

Until recently people with a HELP loan who moved overseas did not have to repay their debt as long as they remained offshore residents. From 1 January 2016 no matter where you live, the requirements for repayment of a HELP debt are the same. All people with a HELP debt who exit Australia with the intention to work overseas for... Read more