From a personal taxation perspective there are only minor changes that will affect the 2019 financial year. Personal tax bracket changes The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000. Introduction of the Low & Middle Income tax offset Individuals that have a taxable income of up to [...]
One-off Superannuation Guarantee Amnesty The amnesty applies to employers that have not fully paid the Superannuation Guarantee from 1 July 1992. Yes that’s right since 1992. However, to qualify for this amnesty, employers must own up and complete the ATO’s SG Amnesty Form. Once completed, payments can be made in full or over a period [...]
Welcome to our annual newsletter for 2018... In this edition, Craig shares insights including learnings from 2017, which was a year of massive change in the Superannuation industry. As more of our clients are entering a phase of their life when Aged Care for themselves or a parent is paramount, we have included information [...]
We believe the most effective business planning process is one that produces a succinct one page plan which encompasses a number of traits. We believe that gone are the days of phone book style business plans which are filled with words. Whilst they might have all the necessary information relating to the business goals and [...]
Navwealth look to provide you with commentary relating to an annual review of your affairs being your key financial data (current year’s performance) and ‘Tax Planning’ in late May, early June. We do this after the Budget as it is from the Budget that many insights on the future of taxes, super, welfare and numerous [...]
Revenue NSW (formerly the Office of State Revenue) have recently introduced a new surcharge for foreign persons who own residential land in NSW through a Family Trust structure. Importantly the definition of a ‘foreign person’ for the surcharge includes not only individual beneficiaries of trusts but is also extended to include a company or a [...]
Single Touch Payroll (STP) – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO. Get used to the acronym STP as it comes into effect from 1 July 2018 for businesses with greater than 20 employees and 1 July 2019 for the balance. For Employers Employers with 20 [...]
Author: Andrew Wem, Wealth Adviser & Lending Specialist This is the final article in a series of Aged Care emails we have produced over recent months. By planning ahead and visiting a few care facilities in your area or close to where your support is, you can take comfort in the thought that if you [...]
Author: Andrew Wem, Wealth Adviser & Lending Specialist As we get older, it becomes more important than ever to have your assets structured correctly. This does not only ensure that they are protected and preserved for you and your loved ones but also prevents potential issues and costs associated with your assets in the future. [...]
If you would like to read our previous articles, please click the link below: Aged Care: All you need to know Aged Care: Home Care, Retirement Village or Aged Care Aged Care: Aged Care Assessment and Facilities Review Aged Care: Minimising Aged Care Cost Aged Care: It’s All About Cash Flow Aged Care: Final Summary
