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…]
The Very Serious Taxation Consequences of Having a Non-Complying SMSF
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…]
Debt Recycling & CGT for Your Commercial Property!
DEBT RECYCLING INVOLVES converting bad debt into good debt. In other words, converting debt you cannot claim as a tax deduction into debt that you can.
This can be a little complicated to explain so take a look at a couple of practical examples. [Read more…]