Tis the season to reconsider holiday home liabilities

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The fast-approaching Christmas holiday season is a good time for property investors to reassess their capital gains tax (CGT) obligations and associated cost base – and in particular, whether a holiday house is a wise investment at all, according to HLB Mann Judd Sydney tax partner, Peter Bembrick. “While holiday homes are very popular at […]

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Franking credit opportunity before 30 June for share fund investors

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The end of this Financial Year presents savvy Australian share fund investors with the opportunity to top up their franking credits pool and reduce their tax bill. Franking credits collected by many Australian share funds are frequently not recognised in the Fund’s unit price, in which case Credits are often only distributed at Financial Year […]

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Tax refunds go begging and building wealth through super or gearing

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Australian taxpayers need to be preparing for the upcoming End of Financial Year period now if they are to maximise their tax planning strategies and receive an optimal tax refund in the 2019/20 financial year. Lodging a tax return sooner rather than later not only ensures any refund is received sooner, but also reduces any […]

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Airbnb is a good income earner but what about the CGT?

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Airbnb can create extra income for you and your family, however this can cause some adverse tax consequences. “First of all the income will need to be included in your tax return each year that you earn income from your property. However, a big potential down side is that if you use your principal place […]

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Last minute tax tips

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Although there are just a few weeks to go before the end of the financial year, there are still steps that can be taken to minimise tax liabilities, said Peter Bembrick, tax partner with HLB Mann Judd Sydney. “It’s not too late to take action to reduce your tax bill – after all, there’s no […]

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Opportunity for businesses to voice tax concerns as federal budget and election loom

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As the tax reform debate reaches fever pitch ahead of this year’s Australian federal election, businesses of all sizes have been invited to weigh in as part of the fifth annual BDO Tax Reform Survey. Open until 11 March, the survey gives businesses around the country a cumulative voice to highlight the tax measures most in […]

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BDO’s Mark Molesworth sought after for another term on Board of Taxation Advisory Panel

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BDO in Australia has announced the reappointment of Tax partner Mark Molesworth to the Board of Taxation’s Advisory Panel until the end of 2016. The Advisory Panel draws together some of Australia’s leading taxation professionals who voluntarily contribute their knowledge and expertise. Its purpose is to assist the Board of Taxation in the general performance of its Charter […]

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Demand for tax-effective investment drives product innovation

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Tax-effective investing outside of super just got better, with the creation of three new investment bond funds by investment bond specialist, Centuria Life Limited (Centuria). Describing the new funds, Neil Rogan, General Manager of Centuria Life, the Investment Bond Division of Centuria, said the new investment options have been developed in response to demand from […]

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Death, taxes and increasing education costs: nothing is more certain

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Australian families should brace themselves for more ‘user pays’ in our education system. Regardless of whether the current Federal Government achieves its stated education reforms, costs will inevitably rise in the future, according to Matt Walsh, head of Lifeplan. “There’s an old saying that ‘nothing can be said to be certain, except death and taxes’ […]

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Boutiques seize the opportunity to offer tax-effective investments

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Centuria Life has partnered with independent investment house, Mason Stevens, to create another bespoke product in its recently launched TaxAstute series – in this case, a credit bond. The Tax Astute series offers investment professionals a vehicle that combines the highly tax effective structure of a traditional insurance bond, with an underlying asset mix of […]

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