Businesses should use hibernation phase to position for long-term recovery

From

Any steps taken by businesses now to review key functions such as funding models and service delivery could be instrumental in determining their viability on resumption of normal trading, according to restructuring and risk advisory partner at HLB Mann Judd Sydney, Todd Gammel. Mr Gammel said business owners should be utilising the current “hibernation mode” […]

continue reading

JobKeeper legislation provides much-needed clarity for business

From

With the JobKeeper Payment legislated by Parliament, and the eligibility rules officially released by Treasury, there is some much-needed certainty about what support businesses and their employees can now access, says Peter Bembrick, tax partner at HLB Mann Judd Sydney. The JobKeeper Payment will provide a wage subsidy to businesses impacted by Coronavirus, with the Government […]

continue reading

Tis the season to reconsider holiday home liabilities

From

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 […]

continue reading

Million-dollar dilemma

From

A large lump sum payout from superannuation might sound good to most people, but there are circumstances when it is a serious problem rather than a welcome windfall, says Michael Hutton, wealth management partner at HLB Mann Judd Sydney. In particular, it can be a problem for self-managed superannuation fund trustees and members, which tend […]

continue reading

Tax refunds go begging and building wealth through super or gearing

From

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 […]

continue reading

Taxing times for Australian expats overseas

From

Many Australians dream about living and working overseas, but before packing their bags people need to think about what steps to take to ensure they don’t end up with a big tax bill on their return home, says Peter Bembrick, tax partner at HLB Mann Judd Sydney. “It may sound like a dream come true […]

continue reading

Cryptocurrency and tax – six things to know

From

The jury may still be out on whether buying cryptocurrency such as Bitcoin or Ethereum is a good investment or not, but those who own cryptocurrency must ensure they understand the tax implications, particularly in light of imminent changes to Australia’s anti-money laundering rules, says Peter Bembrick, tax partner at HLB Mann Judd Sydney. “New […]

continue reading

Rate your wealth: a reality check

From

While many people may appear to be wealthy, in reality their financial situation can be quite tenuous – it is important to take steps to build enduring wealth, warns Michael Hutton, head of wealth management at HLB Mann Judd Sydney. “For example, if people are too dependent on the fortunes of a single asset, or […]

continue reading

Last minute tax tips

From

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 […]

continue reading

Lack of estate planning a growing issue for Australians

From

Many Australians still do not see estate planning as something they need to focus on, and many don’t realise they may in fact have very significant estates, said Mr Michael Hutton, head of wealth management of HLB Mann Judd Sydney. “The family home, superannuation balances and other assets, can all add up to a very […]

continue reading