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Tax planning for the new year

The countdown to the end of the financial year is on and that means you should start to focus on your end of financial year position and any tax planning that is appropriate for you.…

2013 Federal Budget

The Federal Government's 2013 Federal Budget was released earlier this week. The following summarises the key financial planning measures announced. Superannuation Superannuation Measures announced 5 April 2013 Raising the concessional contributions cap to $35,000 for…

RBA reduces cash rate

Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.75 per cent, effective 8 May 2013. The global economy…

Changes for First Home Buyers

Changes to First Home Buyers Grant The tables below set out the different amounts that first home buyers in Victoria may be eligible for from 1st July 2013 (subject to passage of legislation): Conditions Grant…

Super Changes for 2013

On the 5th April 2013, the Federal Government announced their proposed changes to the superannuation system. Increase in concessional contribution cap From 1 July 2013, proposed higher concessional contributions cap of (unindexed) $35,000 concessional cap for…

RBA leaves rates on hold

Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 3.0 per cent. Global growth is forecast to be a little below average…

Paying minimum pension for SMSF

The tax office recently clarified what happens when the trustees fail to pay the minimum pension for a member for the financial year.  Where this occurs, the pension is considered to cease from the START…

R&D tax incentives

With a 45% refundable tax offset (equivalent to a 150% deduction) up for grabs it’s a wonder why more businesses don’t claim the R&D Tax incentive.  This generous tax deduction is available to businesses with…

Buying depreciating assets

If you need to buy depreciating assets in your business – computers, machinery, or cars - we’re about to give you a whole lot of reasons to go shopping. We’re often asked about the best…

Important changes for 2013

Changes for business From 1 July 2013, the upper age limit for superannuation contributions will be abolished. Employers will be required to contribute to the complying super funds of eligible mature age employees aged 70…

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