Money Matters

Is debt ruling your life? Student debts, credit cards and personal loans can be a source of unnecessary stress and prevent you from enjoying other things in life. Clearing your debts doesn’t have to be hard work. With the right professional advice, it’s possible to get your finances on track ...

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Exciting news this week with the much-anticipated self-managed super fund (SMSF) draft ruling from the ATO, SMSFR 2011/D1.  Many people are probably aware by now that you can borrow and purchase properties within a SMSF (we’ll post more on this in coming weeks). What hasn’t always been clear are some ...

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On Father’s Day the Australian Government started public consultations on its plan to introduce two weeks of paid leave for dads to take time off work to spend with their newborn babies. From 1 January 2013, the current Paid Parental Leave scheme will be expanded to include a dedicated payment ...

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A new data matching initiative between Centrelink and the ATO is expected to claw back millions of dollars from welfare recipients who have debts with the Australian Government. Beginning on July 1 this year, Centrelink and the ATO will automatically match data on a daily basis as a way of ...

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We’re already receiving a few FTB supplement questions this year so it looks like time to update you on the current rates. FTB Part A and FTB Part B both include a supplement payment. This gets paid after you (and your partner, if you have one) have lodged your tax returns for ...

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Did you know that only one in five taxpayers who meet the eligibility criteria for the super co-contribution actually make a personal contribution in order to receive the additional government payment. The super co-contribution is a Government initiative to help low to middle income earners save for their retirement. You ...

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A lot of our clients have received an unexpected additional tax refund as a result of the ATO amending tax returns of eligible Youth Allowance recipients to include a deduction for study expenses. This came about thanks to the High Court decision in  Commissioner of Taxation v. Anstis. In the same way that ...

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You can now work out your finances on the go with new MoneySmart mobile phone apps. The new apps, which can be downloaded for free onto your iPhone or Android handsets, have been developed by the Australian Securities and Investments Commission (ASIC) as part of the new MoneySmart.gov.au website. “These ...

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Australians receiving government financial assistance will no longer need to worry that additional superannuation contributions, prescribed by law or the rules of their super fund, will be considered when determining their eligibility to receive that financial assistance. The Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, today ...

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I was met with a mix of both scepticism and delight this week as I contact taxpayers who have received an unexpected, addition tax refund as a result of the Anstis case. (Let’s face it, it’s not often I call people to say “Hey, the Tax Office have sent us money for ...

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Legislation introduced into Parliament today will support older Australians on the age pension to stay connected to the workforce through a new, more generous Work Bonus. The new Work Bonus is set to commence on 1 July this year and will encourage older Australians to continue contributing their skills and ...

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