Superannuation and workers compensation are two integral components of the Australian employment landscape. While they may seem like different worlds, their paths often intersect in ways we might not initially consider. In essence, workers compensation serves as a financial buffer for employees who face injury or illness in the workplace, providing a ...
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When it comes to taxes, a self-managed super fund (SMSF) is taxed differently to other types of investments outside of super. Here's a look at how SMSFs are taxed and what this means for you. An SMSF is a trust structure set up specifically for the purpose of providing retirement benefits for ...
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What types of SMSF insurance options are available? Life insurance for SMSF Life insurance and SMSFs are no strangers to one another, and even conventional industry or retail super funds have a basic level of life insurance built-in. There are many positives about having your life insurance within your SMSF, including the ...
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In recent years, fees for SMSF accounting services have consolidated as streamlining and data efficiency have come into play. Bank account and investment data feeds that plug straight into the accounting software have significantly reduced the manual work required to complete the annual SMSF audit and financial accounts. Some accountants, either by ...
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For as long as I can remember, income protection insurance has been a great way for financial planners to generate revenue for their business. To give you an idea of just how lucrative selling an income protection insurance policy to a client is, a financial planner will usually receive 110% of the ...
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When you sell shares, property or a business and generate a profit, you have made a capital gain on the transaction. Capital gains are generally considered taxable income but exactly how much tax is payable on this income often boils down to how long you have held the asset before selling it. ...
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Few other things in life are more confronting than planning for one's death, which is one of the many reasons why many of us have never given serious thought to obtaining life insurance. The reality is it can be a vitally important decision to make, especially when your family's livelihoods are potentially ...
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We find it particularly difficult to locate the marginal tax rates for Australians in one place. Individual Income Tax Rates Below you will find the ATO published income tax rates for the 2019/2020 financial year. We find these particularly misleading as it does not give you the full picture. Read on to ...
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The following tax saving opportunities for 2020 has been prepared by one of our accountants, we hope you find it useful. It contains some great tips about Superannuation for employers and employees. If your accountant hasn't provider similar advice or you are in the market for a new accountant, check out our ...
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