DFK Crosbie Blog
An income stream from your self-managed super fund ensures regular, flexible and tax-effective income as a pensioner. These streams can be received as a series of benefit payments from your SMSF.
Income streams from an SMSF are usually account-based, which means that the amount allocated to the pension comes directly from a member’s... more
Many property investors can access a wide range of tax deductions for their rental property and items subject to depreciation.
Property investors may not be aware of the number of items that can be tax-deductible, such as accounting, bookkeeping and tax expenses relating to the property. Here are some tips to help you maximise
Goods and services tax (GST) is applied to most goods and services sold in Australia, taxed at a rate of 10%.
If you run a business, you are likely to have GST obligations, such as claiming credit for any GST included in the price of goods and services that have been purchased for your business. However, many businesses have expenses that... more
The 2019 Federal Budget focuses on rewarding working Australians, with the emphasis on a two-pronged approach for “hard-working” individuals.
From the 2018-2019 income year, the low and middle-income tax offset (LMITO) has been increased by $550. This now means individuals... more
The vocational education and training (VET) sector is receiving an investment of $525 million over a five year period to equip workers with the skills they need.
Additional Identified Skills Shortage Payment
The Additional Identified Skills Shortage Payment has been created to support up to 80,000 new... more
The 2019 Federal Budget focuses on building a better tax system for Australian businesses in order to create a stronger economy.
Instant asset write-off:
The instant asset write-off threshold will be increased from $25,000 to $30,000 and be extended from businesses with an annual turnover... more
You are considering selling your current home, and buying another. Ideally you would like to move straight out of your current home into the new one, which would mean both settlements occurring on the same day. But how do you finance the purchase of a new home if you cannot align the settlement dates?
There are a couple of scenarios to... more
Trustees who overlook important details or are reported to the ATO, risk incurring financial, civil or criminal penalties.
The role of the trustee should not be taken lightly as with greater control, comes greater responsibility should the administration of your SMSF go awry.
Protect your retirement nest egg and avoid these common... more
You must make a binding death benefit nomination if you want control and certainty over who will inherit your superannuation assets after you pass away.
Contrary to what you may think, your will does not automatically control the payment of your death benefits. If you do not make a binding death benefit nomination your super trustee
The ATO often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations.
Due to enhancements in technology, the ATO has expanded its data matching capabilities which have improved the ability to identify incorrect reporting in tax returns.
The ATO has released a list of... more