by Financially Sorted | Sep 24, 2024 | Business, Small Business, Superannuation, Tax & Accounting
Beyond the emotional and financial turmoil that any divorce creates, there are a number of issues that need to be resolved. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid...
by Financially Sorted | Jul 30, 2024 | Business, Economy, Finance, Interest Rates, Land Tax, Superannuation, Tax & Accounting, Tax Returns
Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the...
by Financially Sorted | May 30, 2024 | Business, Small Business, SMSF, Superannuation
A major update to the small business superannuation clearing house (SBSCH) was introduced on 15 March 2024 that potentially impacts businesses being able to make superannuation guarantee contributions into SMSFs. SMSFs must have their bank account registered with the...
by Financially Sorted | Apr 1, 2024 | SMSF, Superannuation
How much will you and your family need in retirement? Although the projected growth in the pool of superannuation savings is certainly heading in the right direction, the harsh reality facing those not far off retirement is that they will have nowhere near enough to...
by Financially Sorted | Mar 1, 2024 | Superannuation
The government has announced that contribution caps will increase with effect from 1 July 2024 as follows: Concessional Contributions from $27,000 to $30,000 Non-Concessional Contributions from $110,000 to $120,000 This is a good time to revisit your super strategies...
by Financially Sorted | Oct 30, 2023 | ATO, Superannuation
Be careful – STP 2 and more sophisticated software enables the Australia Tax Office to monitor payments, month by month, & quarter by quarter. The ATO has now begun proactive action against employers who fail to pay super guarantee (SG) payments on time or...
