30 June Tax Tips for Approaching Retirement

If you’re nearing retirement any steps to defer income to the subsequent 30 June tax year will be beneficial as your earnings may be lower in subsequent years. You may also consider salary sacrificing up to the concessional contribution limits of your salary into superannuation, and drawing a tax free-pension as a part of theRead more…

Tax Treatment of Life Insurance and Income Protection Deductions

You should insure against risks to your financial freedom that you are unable to absorb. Insufficient insurance can lead to you being unable to meet debt or loan repayments. Life, Total & Permanent Disability, and income protection insurance paid from a super fund are tax deductible. Members of self-managed superannuation funds are now required toRead more…

Small Business Tax Benefits

New Concessional Depreciation Rules If you’re earning less than a grouped $2m in your business you may benefit from the new concessional depreciation rules for small to medium businesses. On assets that cost less than $20,000 you can claim an immediate deduction provided you start to use, or install to use, the asset between 12Read more…

Lessons from understanding the super fund investment strategy rules

Many of our clients use superannuation to secure their future financial independence. Trustees of super funds, including Self-Managed Super Funds (SMSFs), are required to have an investment strategy that meets certain guidelines. These guidelines provide useful insight into smart investment strategies that you can apply more broadly.   Risk versus return Trustees are required toRead more…

Superannuation For Women – Addressing The Gender Imbalance

In 2012 the Australian Human Rights Commission highlighted the extent that women significantly lag behind men in the amount of superannuation they hold at retirement. In this article we look at first what contributes to this disproportion, and the important steps that can be taken to bring back balance. Why are women reaching retirement withRead more…

Tax Treatment of Non-Commercial Losses

As Chartered Accountants and Financial Planners, we are regularly asked about the tax treatment of non-commercial or non-business losses. For individuals who run non-commercial businesses and are not operating through a trust, loss deferral rules apply. The same applies for partnerships where a partner (individual) is not acting in the capacity as a trustee. IfRead more…

Your 2016 Super New Year’s Resolution

Make this New Year’s resolution one that creates a measurable difference in your life by taking some simple steps to boost your superannuation. As chartered accountants and financial advisers, we are focussed on looking after your financial health. It helps if you are as familiar as you can be with your investments. The start ofRead more…

Tax Deductions for Superannuation Contributions

There is often confusion around tax deductions for superannuation contributions. Deductions can be claimed where made on behalf of ‘arms length’ employees and self-employed individuals. Using the 2014/2015 tax year as an example, there are two concessional cap limits, dependent on age: Under 50   –  $30,000 49 years or over within the 2014/15 yearRead more…

30 June Business Tax Tips

With EOFY never far away, we’ve put together some 30 June Business Tax Tips for you to apply prior to June 30 and help legitimately reduce your tax bill for the end of the financial year. Be prepared before June 30 so you can save more and do more, with Moiler. Here are 9 Quick 30 JuneRead more…

How to Maximise Tax Offsets for Individuals

The following provides you with general information in relation to preparing for the 2015 tax year. You should seek advice for your specific circumstances to maximise your tax offsets. Medical Expenses The 2014/15 Australian Federal Budget reduced access to the medical expenses rebate effective from 1 July 2012. If you’re in a position to pay anyRead more…