June – 2015 Practice Update

June – 2015 Practice Update covers following points
  • ATO warns about aggressive phone scams
  • Holiday homes that taxpayers rent out
  • Early access to super for people with terminal illness
  • Consider buying house in spouses name if used partly for business
  • The sharing economy
  • Tax help for people affected by severe weather in NSW
  • ATO's new appeals division – the "RDR"
  • FBT:  Car parking threshold
  • Luxury car tax threshold
Click here for – June 2015 Practice Update...

Low interest rates effect on investors

With the move by the Reserve Bank to cut the cash rate to 2.00% earlier this month, bank interest rates are at historic lows. In the recent years of interest rate drops the property market has experienced significant growth in capital cities. Despite the more affordable borrowing rates, consumers are faced with the struggle of purchasing owner occupier properties resulting from the rise of real estate. The driver of the growth is due to property investment. As rentals remain strong new investors are finding opportunities to enter the market with rates catering to their risk appetite. But the significant growth puts pressure on Government to bring housing prices to an affordable level for the average Australian. The impact shows that owner occupier purchasers are continually being priced out by investors with foreign investment in property showing...

Income Protection: Your Umbrella When The Rain Arrives

Take a moment to stop and think for a minute. Have you ever considered how your family would fare if you were suddenly unable to work through sickness or injury? Paying off the bills and managing the everyday expenses is hard enough as it is with an income, let alone without one. Under such a stressful circumstance, the last thing one will want to be worrying about is how the gas and electricity is going to be paid. Income Protection insurance provides a monthly income stream of up to 75% of a worker’s regular earnings in the unfortunate event of an injury or sickness, resulting in the inability to work for a period of time. Depending on the policy selected, payments can continue every month until retirement age. Not only can income protection provide the security of...
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