A flashback to Episode 25 on Main Residence - this is talking about what happens when you die. Yep, a little grim but you do need to know.
#mainresidence #taxexemption #tax #accounting
In the lead up to EOFY and undertaking your tax planning with your adviser - are you considering the longer-term implications of the decisions made?
In this Episode and the next, we discuss some of the decisions which can cost you more in the long term albeit save you tax now. It's not necessarily the wrong decision for your business, but are you aware of the longer-term impacts?
#tax #tax planning #accounting #Division7A #businessowner
Do you know what you need to do from a tax perspective if you are either the executor of an estate or even the beneficiary? In many cases, the death of a loved one is not something that leaves you a clear head and unlikely the first thing you will do is reach out to your accountant or tax adviser.
In Episode 28 we arm you with valuable information for when you are writing your own Will; are an executor or a beneficiary.
Find the episode on all podcast platforms - Try Apple or Spotify.
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#tax #accountant #estateplanning #deceasedestate
The end of the financial year is coming! No, it's not Christmas but many retailers will try to make you spend like Christmas in their EOFY sales.
A question to ask yourself - do you/your business really need it? Remember buying something just because it is tax deductible is not a good reason to buy something. It is only a tax saving and not a $1 for $1 saving.
But.....
If you were going to buy it anyway, then bringing the spend forward will also bring forward the tax deduction if the asset is installed and ready for use by 30 June.
Simple, right? Listen to Episode 27 for more simple ways to save or defer your tax bill.
No - Division 7A loans are not the answer!!
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#tax #taxplanning #accounting #EOFYtips
@Tracey Norris has an amazing knowledge of all things self managed superannuation, and teaches us more about investing in property in your Self Managed Superannuation Fund (SMSF) in Episode 26 of SMARTEN UP! The Tax and Business Podcast,
This is a must-listen for those of you who have an SMSF or have ever wanted to buy property using your superannuation money.
Find it on all your podcast platforms - links are on the website too:
https://www.smartsolutionstax.com.au/smarten-up-podcast/
Don't forget to rate the podcast and share it.
#superannuation #tax #investment #retirement
Your main residence is exempt from CGT when you sell it, right? Well maybe not - at least not entirely.
As with many aspects of the tax law, it is not black and white and depends on the use of the property, your tax status, period of absence, and many more things.
Listen to Episode 25 of SMARTEN UP! The Tax and Business Podcast to hear about the exemption and some of the things you should be aware of as a homeowner.
Please also don't forget to rate the podcast on your favourite platform.
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#tax #accounting #mainresidence #CGT
Knowing the basics about Capital Gains Tax is for every Australian - it doesn't matter if you aren't in business, have investments, or own a home - it can apply to more than you might know.
Episode 24 will give you the basics.
Listen on your favourite podcast platform and find it here https://www.smartsolutionstax.com.au/smarten-up-podcast/
#accounting #tax #CGT #Australiantax #investor #businessowner
So, what do you know about capital gains tax? Did you know that the capital gains tax rules are some of the most complex in the tax laws? So that quick CGT calculation or your initial thoughts on how an action may be treated, may be very wrong.
Listen to some of the basics in Episode 24 of SMARTEN UP! The Tax and Business Podcast. Designed to simply what you need to know as a business owner, investor, or for this episode, any Australian with an investment or a potential CGT asset!
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#CGT #tax #businessowner #accounting #investor
Are you providing your employees with benefits? Have you reported this to the ATO?
FBT season is upon us, and it is time to contact your accountant to prepare your FBT return - even if you don't think you have FBT to pay, it is still best to check!
In Episode 22 of SMARTEN UP! The Tax and Business Podcast, @ellie and I cover some of the more common benefits.
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#FBT #businessowners #employers #tax #accounting
Easter Monday and April fools day on one day!
So, what were we to do?
1. Give you a gift by releasing an early sneak peak at the next Episode of Smarten Up! The Tax and Business Podcast- out tomorrow; and
2. Ensuring you are not an April Fool. How? Well, in the next episode, @MitchellHerrett explains what your legal obligations and liabilities are as a company director. This includes explaining what insolvent trading looks like. You'd be an April Fool if you were a company director and didn't ensure you were not trading insolvently.
Listen in tomorrow to the full epidode.
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#tax #companydirector #directorsliabilities #accounting
Is your job taking you overseas, or maybe a family commitment? What does this mean for paying tax in Australia? Listen to Episode 19 on individual tax residency for a breakdown of the rules.
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#individualtax #residency #tax #accounting #resides
We had a great chat with @sarahbryden in Episode 18. Sarah spoke about shareholder disputes and the importance of having the right agreements in place.... Do you?
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#legalagreement #shareholders #businessowner #disputeresolution
Are you a private company owner navigating the complex world of contracts and potential disputes? Listen to @Sarah Bryden speak about the potential pitfalls around contracts and disputes that private company owners need to understand.
Episode 18 is out now!
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#shareholders #businessowners #contracts #disputeresolution
If you have a company in your business group, are you aware of the key considerations when dealing with the company profits?
The complex is simplified for you, the business owner.
Episode 17: Avoiding nasty surprises: tax planning for private company distributions, is out now!
https://www.smartsolutionstax.com.au/smarten-up-podcast/
#tax #division7A #dividends #frankingcredits #accounting
