Fringe benefits tax (FBT) initiatives
The Budget contained a number of measures to close perceived
loopholes in the law – many of them relating to FBT planning
opportunities, which are summarised below.
Eligible work-related items
The provision of some work-related items (e.g., laptop computers,
personal digital assistants and tools of trade) to employees
can be exempt from FBT.
However, this exemption will now only apply [...]
The New Death Tax
I attended a financial planning talk yesterday. I was told
that 3 years ago, there was on average, $450,000 in each Self
Managed Super Fund. Today, it is $805,000. At that rate, your
home will be your second biggest asset (that is, if you live
outside of Sydney or Perth).
I was also told to leave [...]
Get a tax effective pension while you are still working!
Contributed by Brett Davies Lawyers - Please contact Norbert
Cornell at firstname.lastname@example.org or
on 61 2 99568008 or 61 437 381288
If you are 55 and over, you now have the option of easing
into retirement. You can reduce your working hours without
reducing your income. You can top up your reduced income with
a regular [...]
Where does my Super go when I die?
Contributed by Brett Davies Lawyers
Please contact Norbert Cornell at accountants.com.au, 61 2
99568008 or 61 0437381288
QUESTION: I recently asked my adviser what happens to my superannuation
when I die.
My adviser immediately turned to my Self Managed Superannuation
Trust Deed and told me that the trustee of my superannuation
fund will decide who will receive my [...]
Is Your Will Up-To-Date?
Please contact Norbert Cornell at email@example.com,
61 2 99568008 or 61 0437 381288
Once upon a time, there was a very, very old billionaire named J. Howard Marshall.
One day he met a beautiful model named Anna Nicole. J. Howard Marshall fell
in love with Anna Nicole because of her wonderful personality. Anna fell [...]