The changes to superannuation announced in the 2016 Federal Budget have been passed by Parliament. Amongst the changes was legislation which will remove tax concessions for transition to retirement pensions (TTRs) and bring them closer to their purpose
The Fringe Benefits Tax (FBT) year ended 31 March 2017. It is now time for businesses to determine if they have an FBT exposure and if so start to collate the relevant information in order to complete an FBT return for the year.
On Wednesday 9 November 2016 the Government introduced its superannuation legislation which makes changes to the superannuation laws it originally announced in the 2016 Federal Budget.
With the Government abandoning its policy to introduce a $500,000 lifetime cap for non-concessional contributions are you clear on what non-concessional contributions you can make to superannuation now?
The ATO is encouraging trustees of Self-Managed Superannuation Funds [SMSFs] that have contravened the SIS provisions to disclose them to the ATO via its ‘SMSF early engagement and voluntary disclosure service’, which may mean the ATO will apply a ‘lig
Can the asset be left in a bare/holding trust? The short answer to this is yes due to a legilation change around the issue back in April 2014...
The end of the financial year always seems to crop up faster than it should. Understanding what you could do before 30 June 2016 as an SMSF trustee can provide you with significant tax savings.
A reduction in concessional contribution caps, the lowering of the Division 293 tax threshold, introduction of a cap on tax-free assets in retirement phase and a lifetime limit for non-concessional contributions are just some of the changes that were a
If so we are here to help..
By 30 June 2016, all businesses (regardless of the number of employees) need to be on board with SuperStream.
Technology is revolutionising how accountants and businesses alike operate. The major driver of this change is cloud accounting. Cloud accounting allows a company to access their accounting records from an offsite provider via the internet, rather than
Haven’t completed your 2014/2015 tax return and your starting to feel a little concerned that the ATO may come knocking at the door? Don’t stress it may actually not to too late after all!
The following dates highlight key superannuation related tax lodgement deadlines approaching in the next few months. The list of key dates is not comprehensive and is a guide only. Events or timelines may change. Unless otherwise stated, the due dates
I recently was asked to provide tax advice to a client as to whether they were entitled to claim the principal place of residence exemption under the Capital Gains Tax [“CGT”] provisions for their personal property held inside their family trust...
The new underquoting laws apply to NSW property sales from 1 January 2016.
When deciding on which structure would be most appropriate to operate your business venture, there are many commercial as well as tax issues you need to consider. Here are my ‘top’ issues to consider...
We are proud to congratulate one of our valued clients, Narellan-based termite specialist company, Pestec, for being announced the winner of both NSW and Australian Pest Manager of the Year 2015 at the industry awards dinner held on the Gold Coast on 1
At Hailston + Co, we can confidently recommend Xero for your accounting needs. We’ve had continual positive feedback from clients with how user friendly and efficient Xero is.
Are you achieving your business goals? If you answered "what goals?", then it's time to start planning.
Nobody can build a business alone, whether it’s a start up or a well-established business, having access to high-quality advice can enhance an organisation’s chances of success.