Tax exemption on TTR pension earnings removed – but TTRP strategy still useful The tax exempt status of income from assets supporting transition to retirement (TTR) pensions will be removed from 1 July 2017, with earnings to be taxed at the Super accumulation tax rate on earnings of up to 15%.
Changes by the ATO affecting the 2016 Individual Tax Return: New reporting rules for claiming new tax discount for individuals with income as sole traders, partners & beneficiaries New guidelines for claims for mobile/home phones, internet and electronic devices New ruling for landlords of units, flats, apartments claiming deductions for common property but crackdown on repairs & interest claims New rules streamlining car expense claims methods New reforms limit claims for key offsets – dependant spouse, zone and medical expenses Crackdown on work related and self-education claims Other changes relating to residency, dependant & invalid carer tax offset and Medicare levy concessions & exemptions
In the 2015-16 Federal budget the Government announced the introduction of a new form of roll-over relief for small business as part of the Growing Jobs and Small Business Package.
A common and almost entirely unreported form of fraud is family financial abuse, this deplorable act occurs when someone misuses their control over another party’s finance’s.
Before I get to the realization I had while overhearing a family conversation in a restaurant last week, I want to pose some questions.
Too often, what goes without saying goes without doing, or getting done.
There comes a time when we all look towards the future.
Generation Y, the up and comers, the millennials, those born in between 1981-’95 fall into this bracket.
You may spend a great deal of time considering what to invest in, when and even question whether to invest at all.
For many Australians, superannuation is the primary retirement savings they have.