Tel: 61 2 9956 8008
Fax: 61 2 8569 0242

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 norbert@accountants.com.au 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 norbert@accountants.com.au, 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 [...]