Capital Gains Tax & the family home

Capital Gains Tax & the family home

We take a closer look at the main residence exemption that excludes your family home from capital gains tax and the triggers that reduce or exclude that exemption.

Cryptocurrency guidance

Cryptocurrency guidance

The ATO has released some additional (but brief) guidance on some of the key issues that tax practitioners should consider when clients are engaged in cryptocurrency investment or mining activities.  The ATO makes the comment that most people hold cryptocurrency as an...
Recruiting new employees? The 1 November superannuation rule changes

Recruiting new employees? The 1 November superannuation rule changes

When your business hires a new employee, the Choice of Fund form is used to identify where they want their superannuation to be directed. If the employee does not identify a fund, generally the employer directs their superannuation into a default fund.From 1 November...
What happens to your superannuation when you die?

What happens to your superannuation when you die?

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the rules of...
Unwinding COVID-19 Relief

Unwinding COVID-19 Relief

COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19, does more than provide greater freedoms at 70% and 80% full vaccination rates, it withdraws the steady stream of Commonwealth...
Did Your Super Fund Receive a Compensation Payment?

Did Your Super Fund Receive a Compensation Payment?

Is a financial services compensation payment to your superannuation fund a contribution?Of late, there have been several compensation payments made by financial services providers to customers that were inappropriately charged or overcharged for insurance premiums or...
Divorce, Superannuation and the Gender Divide

Divorce, Superannuation and the Gender Divide

New legislation will help prevent superannuation assets from being hidden during divorce proceedings.From 1 April 2022, the Australian Taxation Office (ATO) will be able to release details of an individual’s superannuation information to a family law court.The...