Downsizing into Superannuation

The Government has released a Fact Sheet on their plan to encourage older people to downsize from homes that no longer meet their needs and to free up housing stock for young families starting out.

From 1 July 2018, older Australians will be provided with greater flexibility to contribute the proceeds of the sale of their home into superannuation, reducing a current disincentive to downsizing.

Read the Fact Sheet Here.

Rental Property Owners: What can you claim?

When investing in a rental property, or wishing to invest in a rental property, you’ll need to keep records right from the start and work out what you can and can’t claim as a deduction.

What can you claim?

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Maximize your motor vehicle tax deduction

Are you always on the road for work?

Whether you are an employee or a business owner, at some point of your career you may require use of your vehicle for work/business purposes to travel between office/work sites. You may be eligible to claim your car expenses in your tax return.  But…

Have you wondered what you can do to maximise your motor vehicle tax deduction?

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Do you have backpackers working for you?

As an Employer, you are responsible to make sure the tax you withhold from employees’ wages is at the correct level.  For those employers hiring backpackers who are in Australia on a 417 or 462 working holiday visa, you’ll need to follow the tax rate changes that commenced on 1 January 2017.

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Do you use your Car for your business?

From 1 July 2017 the following car threshold amounts apply for luxury cars:

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