Multiple super accounts are costing Australians an extra $690 million in duplicated administration fees and $1.9 billion in insurance premiums per year. If you have multiple super accounts, there may be benefits to rolling your accounts onto one super fund.
There’s a common misconception that your will represents the incontrovertible ‘final word’ on what is to happen with your estate. However, this is not necessarily the case.
Several superannuation proposals announced in this year’s Federal Budget have been introduced into Parliament. We address these new measures.
The Director Identification Number (Director ID) regime is now in place with Australia’s newest company directors having to comply first.
More than $3.5 trillion dollars in inherited funds are expected to change hands within Australia during the next 20 years, with Australians enjoying one of the highest inheritance payout rates anywhere in the world.
For most Australians, the approach of retirement is something to look forward to. Yet it can also be a time that fills us with trepidation, after all, we’ve saved for it, worked towards it, but are we really prepared for it?
Changing your thinking around your finances, and learning how to make sure your money is working for you will reap great rewards. We’ve outlined a few ways you can create savings while paying off debt.
SMSF property development is layered with complexity. There are four main ways an SMSF may structure a property development investment or arrangement.
Imagine you’re lucky enough to inherit, say, four post-CGT rental properties from a deceased parent – but what happens when your sibling also inherits a half-share of these?
Superannuation fund trustees who receive compensation from financial institutions and insurance providers must consider how receipt of these payments may impact a member’s contribution caps.
The pandemic has resulted in more employees working from home. This has resulted in such people claiming a range of deductions for various associated “running expenses”.
The ATO has released new guidance to help clarify the tax treatment of costs and allowances incurred when an employee travels, or spends time living away from home, for work.