PERHAPS THIS is might appear to you as something out of “left field” … but more and more investors are using PAFs to manage their charitable donations. [Read more…]
Don’t Get Caught Out By This Unfortunate Tax Anomaly!
1 April, 2014 by Leave a Comment
THERE IS A VERY poorly thought out anomaly in our tax system.
It affects families (in the main), retirees (call it a death tax) and other taxpayers alike — especially the NOT self-employed. [Read more…]
Is This Good or Bad Debt?
4 March, 2014 by Leave a Comment
CAPITAL GROWTH and the type of gearing heavily impact the overall profitability of your property purchases. And so this article will explain how they can significantly affect your bottom line. [Read more…]
How to Rectify Your Non-Complying SMSF
24 December, 2013 by Leave a Comment
LET’S REFRESH: In Part 1 we looked at areas of non-compliance; and then moved onto the potentially draconian tax consequences in Part 2.
If you have a non-complying SMSF, this final instalment will give you some direction (and hope) as to the action you can take.
If you have admitted that you are non-compliant to the ATO, the following considerations will determine your outcome. [Read more…]
The Very Serious Taxation Consequences of Having a Non-Complying SMSF
18 December, 2013 by Leave a Comment
IN PART 1, you discovered the main breaches that lead to non-compliance. This article outlines the very ugly tax consequences of being labelled non-compliant by the ATO.
Taxation Penalties
SMSFs are subject to income tax but receive concessional treatment — provided they are complying funds.
A complying SMSF’s assessable income is generally taxed at a rate of 15%. BUT for a non-complying fund the rate is 45%. [Read more…]
