Accounting & Wealth Insights

Teachers’ tax deduction guide

Posted July 18, 2016 by North Advisory

Continuing our series on tax deductions for employees in specific industries, the following are common deductions for teachers.

Nurses, midwives and direct carers – tax deduction guide

Posted July 18, 2016 by North Advisory

It's the start of the new financial year, which means that it's a good time to review the common...

Small business CGT concessions

Posted June 17, 2016 by North Advisory

If you are running a small business, pass the aggregated $2 million turnover test or pass the $6 million...

Flaws in the new superannuation proposals

Posted June 17, 2016 by North Advisory

The link below provides a good insight as to what professional bodies are doing in regards to the proposed superannuation changes.

Selling property over $2 million – new rules apply from 1 July 2016

Posted June 15, 2016 by North Advisory

As part of the governments focus on strengthening our foreign resident capital gains tax (CGT) regime, new rules will soon apply to sales of Australian real property with a market value of $2 million or more.

Your SMSF might be at risk

Posted June 10, 2016 by North Advisory

SMSF trustees should brace for a change in the way their accountant deals with them in regards to their Self Managed Superannuation Fund after the 1st July 2016.

ASIC issues warning to accountants

Posted June 8, 2016 by North Advisory

The accountants exemption expires on the 1st July 2016 and accountants will be breaking the law if they provide advice on SMSF’s without an AFSL.

Extension given to comply with the LRBA safe harbour provisions

Posted June 6, 2016 by North Advisory

The ATO has announced that the date for making sure LRBA related party loans comply with the new safe…

Common ways to purchase property in your SMSF

Posted May 20, 2016 by North Advisory

There are a number of ways you can purchase property through your SMSF.

Collectibles – time is running out

Posted May 2, 2016 by North Advisory

If your SMSF has collectibles that were purchased before 1st July 2011, time is running out to make sure these assets comply with the new requirements. The new rules come into play on the 1st July 2016.