Pay Invoice Search Home

END-OF-YEAR TAX PLANNING TIPS FOR THE BUSINESS

The general rule is that you can claim deductions for expenses your business incurs in its task of generating assessable income. Many of these deductions are obvious - rent, materials, supplies and so on - but there are also some less obvious options left available just before the end of the income year, should your circumstances suit, to reduce your enterprise's tax burden for the year. 

           
Click here to download a pdf version of the newsletter to read the full article                                                                                   


WHAT IS A TAX LOSS, AND HOW CAN IT BE TURNED TO GOOD USE?         

You generally make a tax loss when the total deductions that can be claimed for a financial year exceed the total of assessable and net exempt income for the year.

If you operate a business that makes a loss you can generally carry forward that loss and claim a deduction for it in a future year. If you're a sole trader or in a partnership, you may be able to claim business losses by offsetting them against your other personal income (such as investment income) in the same income year.
                        
           
Click here to download a pdf version of the newsletter to read the full article.                                                                              

 


           

THE TRANSITIONAL CGT RELIEF MEASURE AND YOUR SMSF

Transitional capital gains tax (CGT) relief is temporary relief available to all complying superannuation funds, not just SMSFs, for certain CGT assets that would otherwise give rise to a taxable capital gain through the necessary efforts to comply with the new transfer balance cap and new conditions to be applied to transition to retirement income streams (TRIS).

                        
           
Click here to download a pdf version of the newsletter to read the full article.  

 


           

Q: WHO IS ASSESSABLE ON INTEREST INCOME

A: Those who "BENEFIT"

It is a fairly well-established and welcome act for an aunt or uncle or of course a parent to start a savings account for a new addition to the family. It is not so common however, to factor in the taxation obligations that may arise from this generosity.

A young child may not be able to reach the buttons at the ATM, but they can certainly have bank accounts in their own name. Naturally it is a child's guardian who will manage their financial matters, and therefore a parent may operate a savings account on behalf of their child.                                                       
           
Click here to download a pdf version of the newsletter to read the full article.                        


OFFICE MOVE

After 15 years at 278 Stirling Highway, Stirling Partners is moving up the road to 162 Stirling Highway, between Loch Street traffic lights and the Rose Garden on the same side of the highway. We will be moving from 22 June and expect to be settled in the new premise from 1 July 2017. All existing contact and email addresses remain unchanged. We apologise for any inconvenience.


Click here for a google maps link.




 

          

FINANCIAL SOLUTIONS

 
Insurance – protect your most valuable asset

How would your family or loved ones cope if you suffered an accident or illness? Would you be able to survive a forced retirement? Nearly a third of Australians over the age of 45 retire early due to ill health.  You have worked hard to support your family and have built up a healthy level of savings. A serious injury or illness could put these life savings and retirement plans in jeopardy.

Australians insure their homes and cars, often with barely a second thought, but only a minority protect themselves and their loved ones should something happen to them. In fact, we're one of the most under-insured countries in the developed world with many families suffering financially if something happened to one of the breadwinners.

Let us help protect you and your loved ones. Contact us today to arrange a complimentary meeting to discuss your personal life insurance needs.

·         How much cover do I need?

·         Should I hold insurance inside or outside of super?

·         Stepped vs level premiums?

·         Any vs own occupation?

·         I'm paying a large premium now, do I need to be?

·         I've got existing cover in my super but don't know if it's appropriate?

·         I'm a SMSF trustee but haven't considered the insurance needs of the members.

Visit our website for more information or contact Erich or En to organise a introductory meeting.