A recent survey of Australians aged 50 and over has revealed that parents give $22 billion a year to their adult children to help them get established, buy property and tide them over tough times.”1 Parents naturally want to help their children get a start in life, particularly since the property market is so […]
What are the implications for a claimant upon receiving a Total and Permanent Disability (TPD) benefit paid from superannuation? One of these is the potential for a tax liability when the benefit is paid as a lump sum. Why TPD in super Premium affordability is often the key motivator that attracts individuals to place their […]
Family trusts are still an attractive approach for those looking to build wealth in a tax-effective investment vehicle other than superannuation, despite the ongoing changes to the rules governing such trusts. Over the last few years, investors have been wary of family trusts on the basis of negative reports or uncertainty around tax treatment, but […]
As trustees move into the new financial year, there are a number of changes self-managed superannuation fund (SMSF) trustees need to be aware of: 1. New powers for the Australian Taxation Office (ATO). The ATO will have the power to make mandatory directions in relation to education of trustees, directions to rectify contraventions in a specified […]
