From 1 July 2024, the amount you
can contribute to super will increase. The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to
$30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions.
If you know you will have a capital gains tax liability in a particular year, you may be able to use ‘catch up’ contributions to make a
larger than usual contribution and use the tax deduction to help offset your capital gain tax bill. But, this strategy will only work if
you meet the eligibility criteria to make catch up contributions and you lodge a Notice
of intent to claim or vary a deduction for personal super contributions,
with your super fund.
Boost your super from July 1, 2024. Seek advice for your best options in understanding your super contributions.
Falling behind on your BAS lodgements looks like an administrative problem. Left long enough, it becomes an expensive one, because the GST you collected stays payable indefinitely while the GST credits you are owed disappear after four years. Here is what that looks like in dollars.
With negative gearing now quarantined for established dwellings, new house and land has become the sensible play for investors — but there is a trap in the first eighteen months. Interest on the land is denied, while interest on the construction is not. If the bank has written one loan, someone has to do the sums. Here is why it pays to split the loan before you sign.
When the draft legislation for the trust minimum tax was released, it came with a reassurance: if you do not want to restructure, you can simply make an election instead — no restructure, and no state stamp duty. That is accurate, but it is also a very small part of the decision. Here is why you should choose your structure for the eventual sale of your business, not for the announcement.
