NEW Pocket Tax Guide Our handy booklet containing the most commonly used tax rates and superannuation information is now available. Submit your postal address and we’ll post one out to you.
A new scam is being reported. A phishing email claiming to be from the ATO is currently circulating. The email claims that the recipient is entitled to a tax refund and states they should click the embedded link and complete the online form. Do not click on the link in the email as it opens a fake webpage that will... Read more
Edney Ryan proudly supported the Sydney World Press Photo Event: Portraits of Mercy Ships Patients. Mercy Ships exists to address the critical shortage of health care services in the developing world. More than 10,000 free surgeries and other transformational health care services are performed for some of the poorest people on earth each year by Mercy Ships. Consider supporting this... Read more
If you earn less than $48,516 per year (before tax) and make after-tax super contributions, you are eligible to get matching contributions from the government. The amount of the co-contribution reduces the more you earn over $33,516. To work-out how much co-contribution you are eligible for, try MoneySmart’s Calculator.
All swimming pools and spas must be registered by 29 October 2013. This includes any temporary swimming pools which have a depth greater than 300mm. There will be a penalty for owners who fail to register a swimming pool. Swimming pool owners will be required to provide a valid swimming pool compliance certificate before being able to sell or lease... Read more
Under recent changes to the law, deposits can be deemed unclaimed (dormant accounts) if a transaction has not been made on an account for three years or more, down from seven years previously. Unclaimed funds are paid by banking institutions to ASIC, then the money is transferred to the Commonwealth of Australia Consolidated Revenue Fund. You can reclaim your money from... Read more
Most couples who purchase a home together, traditionally would buy the home as joint tenants. This means that if one person dies, their interest in the property automatically moves to the surviving spouse. However, as professional negligence lawsuits have become commonplace, particularly against doctors, vets, accountants and even solicitors, professionals would be wise to consider purchasing their home as tenants-in-common.... Read more
If you have a superannuation pension there are minimum withdrawals that you must make from your account each year, in order to maintain the tax-exempt status on your earnings in the superannuation account. For the last 5 financial years, the Federal Government reduced the minimum pension withdrawals, due to the volatility of the investment markets. The reduction in minimum annual... Read more
Businesses that increase the number of employees in NSW could be eligible for a $5,000 payroll tax rebate, under the “Jobs Action Plan” which is designed to give businesses an incentive to employ new workers and expand their enterprises. To be eligible for the rebate, the new position can be full-time or part-time, where the role is performed mainly in... Read more
Making a Will is an important responsibility, particularly for parents of young children. A testamentary trust is a trust established by a Will and is widely used for asset protection and significant taxation advantages. The end result for your family can be substantial, as illustrated in the following example. John dies leaving behind his wife Jessica, and three young children.... Read more