Saving tax by adding to your spouse's super
If your spouse earns a low income and you make a contribution of at least $3,000 to their super, you will increase their super and be able to claim a tax benefit. You may be eligible to receive a t...
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Reducing tax income tax by making personal deductible super contributions
If you are self-employed or most of your income doesn't come from eligible employment then you may be able to use your super contribution as a tax deduction. So by contributing to super, you not only increase your super but also reduce your income tax bill. Your super will still be taxed at the 15% rate but your income tax will be reduced, which means overall you will benefit from tax savings. An example of where this might be appropriate: Susan is a small business owner who would like to invest $10,000 in super this year. She is able to deduct this amount from her taxable income, so reducing...
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Some things to consider before Transitioning to Retirement
The following are a number of questions you should consider before transitioning to retirement: Do I really want to reduce my working hours and, if so, is the option availa...
Offset capital gains tax with deductible super contributions
Capital gains tax (CGT) is payable on the proceeds of the sale of an asset. This is calculated after any losses have been taken into account, and after any discount if applicable (if you've held th...
A Brief Introduction to Superannuation
"I'm tired of being misunderstood." - Super "Ignoring me won't make me go away." - Tax They say t...
Should you transfer your UK pension to Australia?
With the advent of the new QROPS system, more and more UK residents departing are taking their UK pension with them. Each individual needs to do their homework, because there is no one size fits al...
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Should you transfer your UK pension to Australia?
With the advent of the new QROPS system, more and more UK residents departing are taking their UK pension with them. Each individual needs to do their homework, because there is no one size fits al...
Offset capital gains tax with deductible super contributions
Capital gains tax (CGT) is payable on the proceeds of the sale of an asset. This is calculated after any losses have been taken into account, and after any discount if applicable (if you've held th...
Some things to consider before Transitioning to Retirement
The following are a number of questions you should consider before transitioning to retirement: Do I really want to reduce my working hours and, if so, is the option availa...
Reducing tax income tax by making personal deductible super contributions
If you are self-employed or most of your income doesn't come from eligible employment then you may be able to use your super contribution as a tax deduction. So by contributing to super, you...
A Brief Introduction to Superannuation
"I'm tired of being misunderstood." - Super "Ignoring me won't make me go away." - Tax They say t...