by Team Garnet | Sep 30, 2022 | Investments, Money, Superannuation, Tax News
To encourage downsizing, a new Bill has been introduced to extend the existing assets test exemption under social security and change the rate of deeming of proceeds of sale. In a bid to support pensioners and in conjunction with the announcement to reduce the...
by Team Garnet | Sep 23, 2022 | ATO, Business Structures, Small Business
The government has proposed to give small businesses a temporary 20% bonus tax deduction for employee training expenditure. As a part of its strategy to address the current skills shortage as well as to future-proof Australia’s workforce by building better trained and...
by Team Garnet | Sep 16, 2022 | Investments
If you earn income from an investment property, you may be entitled to a deduction for expenses directly incurred in taking out a loan for the property. Have you considered what this means for you and your investment property? Let’s start at the beginning and...
by Team Garnet | Sep 8, 2022 | Superannuation
ASIC’s recent surveillance of superannuation trustees found some significant issues with complaints handling. The Australian Securities and Investments Commission (ASIC) is the body responsible for overseeing the operation of Australia’s financial services dispute...
by Team Garnet | Aug 31, 2022 | ATO
The ATO is expected to issue a draft ruling soon which clarifies the residency test for individuals. Changes to clarify the residency tests for individuals are expected to be released in September 2022. This will be in the form of a Draft Ruling by the ATO that will...
