Saving tax by deferring a lump sum super withdrawal
Depending on your age, your super is subject to different tax conditions. You may want to consider deferring taking money out of super if you are under the age of 60. You could benefit from ...
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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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Saving tax by paying for 12 months income protection insurance premiums in advance
Income protection insurance protects your income if you are unable to work for an extended period of time due to injury or illness. If you purchase income protection insurance outside of you...
Taxation of Employee Share Option Schemes
The government announced in the 2008?09 Budget that it would make two legislative changes to the tax treatment of shares or rights acquired under an employee share scheme (ESS)The Assistant ...
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...
Saving tax by paying 12 months interest in advance on an investment loan
Paying the interest on an investment loan in advance for the following financial year could enable you to enjoy a larger income tax deduction this financial year. This is because you are abl...
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Be Aware of Capital Gains Tax when Managing an Inheritance
In the case of inheritance, while there are no direct taxes, assets acquired from an estate can be subject to capital gains tax. A capital gain is any profit that results from the sale or transfer ...
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...
Taxation of Employee Share Option Schemes
The government announced in the 2008?09 Budget that it would make two legislative changes to the tax treatment of shares or rights acquired under an employee share scheme (ESS)The Assistant ...
Saving tax by deferring a lump sum super withdrawal
Depending on your age, your super is subject to different tax conditions. You may want to consider deferring taking money out of super if you are under the age of 60. You could benefit from ...
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...