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Personal income tax rates for Australian residents (2017-2018)
July 11th, 2017There were no changes to personal income tax rates and thresholds in the 2017-2018 Federal Budget. The three (3) year Temporary Budget Repair Levy (TBRL) of 2% for individuals with a taxable income of over $180,000 (announced in the 2014-15 Federal Budget) ceased on 30 June 2017. The table below outlines marginal tax rates applyingread more
How working holiday makers are taxed in Australia
July 10th, 2017If you are planning on becoming a working holiday maker (WHM) in Australia, you need to be aware of how your income is taxed. If you are a working holiday visa holder (subclass 417 and 462) tax is withheld from your pay and you are required to lodge a tax return each year with theread more
Changes to foreign resident capital gains tax withholding regime (FRCGW)
July 7th, 2017Please note we have released an update on this in 2025 - read that here. Last year, the government introduced new withholding rules for certain property sales. The purpose of the withholding regime is to assist in the collection of capital gains tax (CGT) liabilities of non-residents when they dispose of Australian assets. The Mayread more
Steps to Successfully Selling Your Business
July 6th, 2017article contributed by Ryan Willsher, Finn Franchise Brokers and Reece O’Sullivan, Finn Business Sales Business owners – no matter how knowledgeable they are in terms of running their own business – must be prepared to invest time to properly prepare for the sale of their business when the time comes to exit. Not surprisingly sellingread more
ATO reminds rental property owners on claiming tax
July 5th, 2017The Australian Taxation Office (ATO) has issued a timely reminder that it is keeping a close eye on deductions claimed by rental property owners, especially those with properties located in popular holiday destinations. Last year the ATO identified a significant number of errors relating to deductions claimed for rental properties located in holiday regions. Theread more
Is your family financially secure? Why you should review your insurance…
July 5th, 2017Have you considered the risks you and your family are exposed to? Life, as we all know it, is full of uncertainties. Your lifestyle may change in an instant due to a serious accident or illness or death of a family member. As things change quickly, having an appropriate risk protection plan in place isread more
Tax Deductions for Investment Properties
June 15th, 2017Several deductions are available to property investors to minimise the tax being paid. Unfortunately, there are areas relating to tax deductions that are unclear to some individuals, resulting in opportunities being missed to get the most out of their investments. To help identify what you can legitimately claim, below is a list of common taxread more
The Count Report Winter 2017 Edition
June 7th, 2017With 30 June approaching, we have compiled ‘Your financial year checklist’ to take some of the headache out of preparing for tax time. ‘Understanding your super and pension statements’ also provides a breakdown of your statement – without the finance speak – so you can better understand how and where your money is invested. Andread more
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