North Advisory Accountancy Blog

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

It’s the start of the new financial year, which means that it’s a good time to review the common tax deductions for employees in specific industries and occupations in order to maximise tax deductions and get into good record-keeping habits at the beginning of the new financial year.

If you’re wanting to make contributions into your SMSF you will need to act quickly to get these in before the 30th June 2016. This is important if you want to make the contributions by EFT as it may take a day for the contributions to hit your SMSF bank account.

If you are running a small business, pass the aggregated $2 million turnover test or pass the $6 million net asset value test, you may be entitled to the Small Business CGT Concessions when you sell active business assets.

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

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.

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.

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.

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

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