Those living in households where one spouse has a much lower super balance may want to start considering their options as to how to even up the superannuation imbalance. In Australia, many couples and families have at least one member with limited finances due to taking time off work to raise a family. But there…
Fringe benefits tax (FBT) is a tax an employer pays on certain benefits they provide to their employees, including their employees’ family or other associates. The benefit may be in addition to, or part of, their salary or wages package. Fringe benefits tax is separate to income tax and is calculated on the taxable value…
While many can agree that the majority of business meetings are a waste of time, in some companies, meetings are inevitable. But even though people working in these organisations cannot simply ‘quit’ having meetings, there are ways they can reduce the time-wasting drain that converts a short 15-minute meeting, into an hour of wasted productivity.…
Carrying forward significant capital losses can be a viable strategy for trustees wanting to offset gains and achieve tax savings in the near future. This kind of strategy is suitable in circumstances where it is likely that younger members may join the fund or when members are considering switching back to the accumulation phase. One…
As the countdown begins to Australia’s tax return lodgment date, many individuals in the country may be hurrying to find a few extra possible tax deductions to claim. However, in the rush before the deadline, it is important not to waste time claiming deductions for expenses or items that are commonly thought of as tax…