Latest News
| Share |
31 Dec 2011 - Tax changes to come into force in 2012.
A number of changes are due to come into force in 2012. You should take note of these so that you can plan your strategies for this tax year.
Super Cap to reduce.
For the over 50's the concessional contribution cap is set to reduce from $50,000 p.a to $25,000 p.a from July 1, 2012. Clients with enough cash flow may wish to make sure that they take advantage of the current cap of $50,000.
Low income super contribution to start.
From July 1, 2012 clients with an adjusted taxable income of $37,000 p.a. will receive a low income super contribution up to a maximum of $500 back into thier super account. This will effectively refund the 15% contributions tax.
Co-contribution to reduce.
The superannuation co-contribution will reduce from $1,000 to $500 from July 1, 2012. Also, the matching rate will drop from $1 for $1 to $0.50c. The threshold on income will fall from $61,920 to $46,920 p.a.
Minimum pension payments rise to remain on hold.
The minimum pension payment rates will remain on hold for another 12 months. This is good news for those investors who want to keep more money in their super accounts to keep growing.
| Share |
29 Sep 2011 - Buy property through your self managed super fund and renovate
The ATO have released a new ruling that allows you to claim the renovation expenses through your self managed super fund