tax Tags - Watkins Financial Services

On Tuesday 9 May 2017, the Treasurer, Scott Morrison, released the Government’s 2017-18 Budget. This year’s Budget won’t significantly impact retirees; however, there were plenty of changes announced that could affect you. For further information regardiContinue Reading...

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...

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