Harper News

SMSF safe harbour guidelines have been released

Finally, SMSF trustees can get some assurance of doing the right thing. The ATO has released guidance on the arm’s length terms (commonly known as the “safe harbour” terms) when an ...

[Read more...]

SMSF trustees: Don’t let “cognitive decline” sneak up on you

As the Australian population ages, and retirees become either fully or partially reliant on their own retirement savings instead of the government pension, the ability to manage those funds may be aff...

[Read more...]

Considerations if your employee wants to salary package

Salary packaging is one way for an organisation to increase the take-home pay of its employees — and if done correctly, at no extra cost to the business but with a tax advantage to the employee....

[Read more...]

Can your summer holiday house be turned into a tax advantage?

Now that summer has come and gone, the ATO has been active in issuing reminders about the taxation issues surrounding holiday homes. The fact the ATO issues reminders is a sure sign that the topic is...

[Read more...]

Amending your activity statement

Once you have lodged your latest activity statement, you may realise that something has been left out or you have neglected to include a particular item. The Australian tax system is based on “s...

[Read more...]

FBT exemptions under the radar

Providing fringe benefits goes hand-in-hand with the task of retaining good and loyal employees as well as attracting new talent for your business. However the types of benefits provided can sometimes...

[Read more...]

Insurance cover through your SMSF can be tax deductible

Buying insurance within an SMSF can give access to deductible expenses that would otherwise not be available, as some insurance premiums, such as for life insurance (which typically cannot be claimed ...

[Read more...]

The “I hadn’t thought of that” business essential: Succession planning

From about five years ago, the baby boomer generation started to turn 65. A surge in Australian business owners retiring began, and continues, but the topic of succession planning, although given some emphasis by this demographic wave, remains a perennially under-addressed issue.

[Read more...]

Work-related travel expenses: Why are they on the ATO’s radar?

An area where we see individuals getting it wrong as employees is in relation to claiming work-related travel expenses.

The absence of hard and fast rules can make claiming travel expenses difficult as often the deductibility of such costs can be dependent on the nature of employment, the amount of time spent away from home and whether an allowance has been received to cover those costs. The required receipts and documentation must be sourced and maintained to make a claim. Further, the requirements relating to the use of the Commissioner of Taxation’s (the Commissioner) reasonable travel amounts without having to keep written substantiation can be confusing.

[Read more...]

Considering a change of structure for your small business?

The final tranche of 2015 small business budget announcements have made it into law, now expanding the tax relief available for small businesses to change the legal structure of their business. This new arrangement is designed to provide greater flexibility for small businesses to change structures without incurring an immediate CGT liability, and allowing it to defer CGT to a later point in time.

[Read more...]

Death benefit nominations for your SMSF

A death benefit nomination is a written direction to SMSF trustees that instructs the trustee to pay a member’s entitlements to certain dependants and/or legal personal representatives (their estate) in the proportions the member wishes in the event of their death.

[Read more...]

Business assets, personal use?

Is there a problem with using your company’s assets for yourself? Assets that belong to your business but that are being used for your own benefit or enjoyment can potentially trigger a tax issue known as “Division 7A”.

[Read more...]

Employers: Beware “leftfield” FBT liabilities

It is generally understood that for fringe benefits tax (FBT) to apply, the benefits paid are usually in respect of an employment relationship.

[Read more...]

Rental properties: ATO focus on “initial repairs”

The ATO is focusing on claims that investment property owners make for repairs to rental residences that it deems to in fact be “improvements”.

[Read more...]

When can your SMSF’s benefits be paid?

The money put aside in your self-managed superannuation fund (SMSF) is of course
intended to be kept to fund the retirement of you and your fellow fund members. This is the over-riding obligation of you as trustee to adhere to the “sole purpose” test.


The money put aside in your self-managed superannuation fund (SMSF) is of course
intended to be kept to fund the retirement of you and your fellow fund members. This is the over-riding obligation of you as trustee to adhere to the “sole purpose” test.
The money put aside in your self-managed superannuation fund (SMSF) is of course
intended to be kept to fund the retirement of you and your fellow fund members. This is the over-riding obligation of you as trustee to adhere to the “sole purpose” test.

[Read more...]

Get your “personal service income” affairs in order for 2016

It is not uncommon for professional people who provide services to set up a separate entity to run their business, be it a trust, partnership or incorporated company.

[Read more...]

Going from sole trader to company

Whether you’ve been in business for years or you’re just starting out, choosing the right structure for your business is important. It is a consideration that is not only important from the start, but as your business grows and develops.

[Read more...]

Understanding limited recourse borrowing arrangements

A self-managed superannuation fund (SMSF), generally speaking, is not able to borrow to acquire assets. The rationale is that superannuation is meant to be a relatively conservative investment vehicle, and borrowing can put the fund at risk.

[Read more...]

Fly-in, fly-out? No more zone tax offset

In the 2015-16 federal budget, the government announced that it will exclude “fly-in-fly-out” and “drivein- drive-out” workers from claiming the zone tax offset (ZTO) where their normal residence is not within a “zone”. The measure was not passed by Parliament until late in 2015, but it is now law and is effective from July 1, 2015.

[Read more...]

Free employer SuperStream webinars from the Tax Office

Employers with 19 or fewer members of staff have still got until June 30, 2016 before they need to comply with the new SuperStream standard for superannuation payments. Under SuperStream, you need to...

[Read more...]

Page 6 of 21First   Previous   1  2  3  4  5  [6]  7  8  9  10  Next   Last   
 
 
Contact Us

Please fill out the form below and we will get back to you as soon as possible.

* Required
 
 
Business Diagnostic Tool

Health 180 Business Diagnostic

Reveals the most effective way for you to improve your business, plus the key areas for you to start on right now ...

First time users: click the Registration button, otherwise click the Login button

Use Promo Code:  AID0744-02N

Registration

Login


 
 

Online Calculator

Click here to use our Online Calculator

 
Privacy Statement  |  3/506 Nepean Highway (PO Box 11040) Frankston Vic Australia 3199  |  Tel 03 9770 1547
Harper Group Pty Ltd ABN 19 067 923 611  |  © 2013 Harper Financial Group Pty Ltd  ABN 46 124 548 812