The new Labor Federal Government handed down its first budget last night. As expected, there was a focus on measures to deal with inflation and the cost of living. The upcoming 1 July 2024 legislated personal income tax cuts have been left alone (for now) and there was an array...
First published in SMSF Adviser, 7 October 2022 In good news for SMSF retirees, legislation was recently introduced into Parliament[1] to increase the Commonwealth Seniors Health Card (CSHC) income test limits to $90,000 a year for a single person and $144,000 a year for couples. The CSHC is a concession...
Ethics is becoming a dominant topic in the professional advice space for multiple good reasons. Primarily as ethics is the foundation of trust and trust is the key foundation of a profession. We come across many ethical situations in our daily lives. Ethical issues are rarely black or white, and...
During the life cycle of a limited recourse borrowing arrangement (LRBA) held by an SMSF, there will be events that will require consideration of how they will affect superannuation compliance and income tax issues. In this article we consider these events and their consequences. Year end LRBA asset value less...
Brought to you by Challenger Tech Accommodation is usually the largest cost associated with residential aged care, often requiring the sale of assets. A person may have to pay an accommodation contribution or payment when they enter residential aged care depending on their means. In this article the technical team...
