By Shane Oliver, Head of Investment Strategy & Chief Economist from Oliver’s Insights, AMP Capital, Edition 23 2017 Key points Inequality has been trending higher over recent decades. This is particularly the case in the emerging world and the US but is also evident in Australia. Key drivers have been a rising profits share of GDP, technological innovation and globalisation. It has become more noticeable... Read more
Each year we compile current tax rates and key superannuation data in our handy quick reference guide. You can request a hard copy by phoning (02) 9908 9888, email marketing@edneyryan.com.au or view the booklet online here.
View this short video for a snapshot of Edney Ryan Legal and Edney Ryan Wealth Management, and the people behind the businesses.
This existing withholding tax assists the collection of foreign residents’ Australian tax liabilities. Where a foreign resident sells certain taxable Australian property, the purchaser is required to withhold an amount from the purchase price and pay that amount to the ATO (see our previous article on this topic). Australian residents selling real property will need to obtain a clearance certificate from... Read more
NSW Home Affordability Measures The NSW Government has announced a number of measures designed to improve housing affordability across NSW from 1 July 2017. Some of changes in the housing affordability package will affect foreign residents purchasing residential property in NSW. Stamp Duty Surcharge Increases: Foreign residents already pay a 4% surcharge on stamp duty. This will double to 8%.... Read more
One taxation strategy is to prepay the interest on a loan for the next 12 months and claim a tax deduction in the current financial year. Prepaying interest is a way of bringing forward a tax saving that would have been claimed the next financial year. The maximum prepayment period allowed is 12 months The... Read more
With the EOFY just days away it’s time to get your tax affairs in order. Here are our top 10 tax planning tips to get you started. 1. Small Business Assets Now might be a great time to purchase a new computer or work car. The 2017 Federal budget gave small businesses (with a turnover less than $10 million) a 12-month... Read more
Changes to the superannuation rules will come into effect on 1 July 2017. Hopefully you have already received comprehensive financial advice to ensure you are ready for the many changes from July 1, including the significant $1.6 million cap on tax-free superannuation. Here’s some final steps you can take, where appropriate to your individual circumstances, before 30 June to... Read more
From the 2016–17 income year, the small business company tax rate has been reduced to 27.5%. This lower rate now applies to small businesses with a turnover less than $10 million. The company tax rate will remain at 30% for all other companies. The maximum franking credit that can be allocated to a frankable distribution paid by a small business... Read more
Each year it is fascinating to observe how the Budget is received. Most commentators subjectively assess the Treasurer’s efforts by how they, or their interest group, is expected to be impacted. But is it possible to assess a budget more objectively? According to the stock market and rating agencies the Treasurer has done a reasonably good job. The ASX is... Read more