From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has reduced…
The ATO has flagged four priority areas this tax season where people are making mistakes. With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax…
To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement. Typically, granny flat arrangements occur when an older person transfers some…
If you sell an asset you will typically make a capital gain or loss, which is the difference between your initial purchase cost and the amount you receive when you sell the asset. In most…
Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the…
