How Child Maintenance Trusts can save tax and grow inter-generational wealth after separation.
Divorce and separation is never a pleasant or inexpensive process but it does provide a unique tax planning opportunity that few know about. After separation one party is often required to pay child support to their former spouse. Depending on the age of the child, this could be for as long as 18 years. This […]
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Directors’ now liable for GST
Legislation relating to GST Director Penalty Notices was passed on 5 February 2020 and now awaits Royal Assent. The legislation changes are not retrospective and only apply for unpaid GST incurred from the beginning of the 4th quarter of this income year (i.e. from 1 April 2020). What was the situation prior to the law […]
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Renovating a property inside a SMSF
When can I renovate a property owned by my SMSF? How can I fund renovations of a property owned by my SMSF? Borrowing for repairs vs renovations/ improvements Self-Managed Superannuation Fund’s are allowed to borrow money to repair acquirable assets but are prohibited from borrowing money to improve acquirable assets. Hence, it is vital that […]
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