Based on ATO data, just over 2 million Australians own an investment property. Does this mean everyone should consider if an investment property is appropriate for their wealth strategy?
CGT
Downsizer contributions: beneficiary eligibility age to be reduced to 55
From 1 July 2022, the eligibility age for the beneficiary of the downsizer contribution was reduced from age 65 to 60. Now the Government has proposed that the eligibility age for the beneficiary of the downsizer contribution be further reduced from the current age 60 to age 55.
Nearing retirement? May be a good time to move shares into super
The market volatility and uncertainty during the past year and a half of COVID-19 have many share investors understandably rattled.
Pension asset CGT exemption from NALI ends 30 June 2021
From 1 July 2021, if a non-arm’s-length capital gain is made by a segregated current pension asset on or after 1 July 2021, it will be treated as non-arm’s length income (“NALI”), meaning that it will be taxed at the highest marginal rate of 45% under section 295-550 of the Income Tax Assessment Act 1997 (“ITAA97”).
3 tips to help reduce capital gains tax
If you have sold an investment property, shares or other investment asset in the last financial year, you may be liable to pay Capital Gains Tax.
What trustees need to consider in closing an SMSF
What do trustees need to consider when winding up an SMSF?
Minimising assets in an estate that is subject to challenge
Brian Hor at Townsends Law thinks there should be some thought given and preparation around seeking to minimise challenges to an estate by making pre-emptive decisions.
Always exercise caution when changing family trusts
Trustees should be cautious when making any significant change to their family trust deed.