tax Tags - Watkins Jacks Advisers

The changes to superannuation announced in the 2016 Federal Budget have been passed by Parliament. Amongst those changes was the introduction of a $1.6 million transfer balance cap which limits the tax exemption for assets funding superannuation pensions. ThisContinue Reading...

As the 2015-2016 financial year draws to a close, there are a few very important tasks self-managed super funds (SMSFs) members and trustees need to take care of. Make your contributions on time Review your investment strategy Check you comply with in-house asContinue Reading...

Introduction Last night the Federal Government handed down the Budget for the 2016-17 year that includes some of the biggest changes to the superannuation system since 1 July 2007. Some of the major announcements include: • changes to contributions caps, incContinue Reading...

Last week we discussed concessional contributions. This week we will address two insurance strategies to reduce tax. Income protection premiums are fully tax deductible at your marginal rate. Due to cash flow a lot of people pay their income protection premiumContinue Reading...

From 1 July 2012, persons with “income” exceeding $300,000 are subject to an additional 15% tax on any “taxable contributions”. So let’s have a look at what income means? Income is taxable income (including the net amount on which Family Trust distriContinue Reading...

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