Julia's Blog
By Julia Hartman
Burning your money is probably illegal but if you are a pensioner it might save your franking credits. Under the proposed policy by the Labor party, franking credits will not be refundable unless you qualify for the pension. This is certainly a big incentive to qualify for the age pension. Let’s look at an example. …
How Franking Credits are Created: In simple terms, imagine an Australian company makes a $100 profit. It pays $30 tax on it and pays a $70 cash dividend to its one shareholder, an Australian resident. The shareholder also receives a tax credit for the $30. As a result, the shareholder declares $100 in income in …
So what do you do if you realise, after reading the amazing information on our web site or facebook page, that you have missed something in a previous tax return? Don’t worry, you can amend that return and don’t let the ATO fob you off with the 2 year limit as there are many ways …
Holding property in your own superannuation fund is not for everyone but can be well worth considering for the tax benefits and asset protection advantages. This blog is food for thought to prepare you for a discussion with your Accountant, make sure you have that discussion before you sign a contract. I make clients who …
Claw some of that interest back off your bank and use it to make principle repayments. Interest rates are low, really low, especially if you have a principle and interest loan secured by your home. In fact Westpac are offering competitive interest rates and even rebates to cover the costs of transferring and setting up …