Divorce, Superannuation and the Gender Divide New legislation will help prevent superannuation assets from being hidden during divorce proceedings. From 1 April 2022, the Australian Taxation Office (ATO) will be able to release details of an individual’s superannuation information to a family law court. The recently enacted laws are designed to ensure that there is [...]
What now? Unwinding the Pandemic Australia’s two largest states and the ACT are in lockdown as the Delta strain of COVID-19 takes its toll while others are standing firm on a policy of eradication. The result is a country at a policy impasse and divided by border restrictions. And, it is not just businesses in [...]
Are COVID-19 grants and funding tax free? Most people would think that money provided by the Government to support people and business during a crisis would be tax free? Otherwise, it’s like giving money with one hand and then taking it away with the other, isn’t it? But, the tax laws don’t work like that. [...]
Growing your business value Over the next decade, as the baby boomer bubble of small and medium sized business owners roll through the system, Australia will experience one the largest transfers of business wealth in its history. Succession planning is more important than ever. Not just because of the transfer of wealth, but because of [...]
Lockdown support: Update The support available to individuals and business has been constantly evolving and changing. Here’s a summary of where support stands around the country. For individuals From 2 August 2021, the COVID-19 Disaster Payment has increased to a maximum of $750 per week for those who have lost 20 hours of work or [...]
Afterpay’s $39bn pay day Business advisers will tell you that you need to begin a business with the end in mind; a phrase popularised by Michael Gerber in E-Myth. The announcement of the intended sale of Australian born fintech company Afterpay, pioneer of the 'buy now, pay later' platform, is a case in point. Afterpay [...]
New laws target sharing economy platforms In an attempt to reign in undeclared income, proposed new laws will require platform providers in the sharing economy to report all transactions through their platforms. Traditional employment models have shifted in favour of more flexible options including contracting, self-employment and use of labour hire. Consumers are increasingly paying [...]
6 Member SMSFs – the issues and opportunities From 1 July 2021, the maximum number of members a Self Managed Super Fund can have increased from four to six. Why would you have a fund with six members and what are the implications? Recently enacted laws increased the maximum number of allowable members in an [...]
Business in a post pandemic environment Countries that have experienced the worst of the pandemic give Australian businesses an insight into what to expect in a post-lockdown environment. Australia, like New Zealand, has managed COVID-19 on an elimination basis. That is, lockdowns and border closures to keep the virus out. And, it has worked comparatively [...]
Lock-downs: What help is available The highly infectious Delta COVID variant is triggering lock-downs across the country. We look at what help is available and how you can get it. For you COVID-19 disaster payment The COVID-19 disaster payment is available to eligible workers who can’t attend work or who have lost income because of [...]