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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Small business needs certainty on tax treatment of trusts

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The Federal Government should move to finalise reform to laws governing the taxation of trusts, with interim legislation passed by the previous government hampering the small business sector, according to leading Australian accounting firm, Crowe Horwath. Five weeks ago the government stated that it would review 92 announced but unlegislated tax and superannuation measures. Reform […]

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FPA welcomes fairer taxation of excess contributions in super

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Yesterday’s tabling of a Bill to provide for fairer taxation of excess contributions in super is a welcome measure designed to create greater equity for lower and middle income earning Australians. Yesterday’s Tax Laws Amendment (Fairer Taxation of Excess Concessional Contributions) Bill 2013 provides a fair and considered response to resolving a fundamental imbalance for many […]

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Warren Buffett knows that tax rates matter

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There are important questions we need to answer about taxes. How progressive or regressive? How should rates vary on different  forms of income? How much of fixing our fiscal problems should come from raising revenue versus cutting spending? I have my  opinions and you are entitled to yours. But some basic truths, old fashioned as […]

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Hundreds of tax cheats convicted

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In the last quarter, 465 individuals and companies were convicted for tax and superannuation criminal offences resulting in over $1.56 million in fines and penalties. “The ATO pursues tax cheats to the full extent of the law to ensure people who pay their fair share of tax are not disadvantaged,” Tax Commissioner Michael D’Ascenzo said. […]

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