ATO data matching of share transactions
Share transactions – 20 Sep 1985 to 30 Jun 2018 data matching program protocol (amended) At a glance Program objectives The purpose of the ATO’s data matching program is to ensure that taxpayers are correctly meeting their taxation obligations in relation to share transactions. These obligations include registration, lodgment, reporting and payment responsibilities. As taxpayers can hold shares for […]
Downsizer contributions
ATO guidance regarding ‘downsizer contributions’ The ability to make ‘downsizer contributions’ effectively commenced on 1 July 2018, prompting the ATO to release further guidance with respect to this new superannuation contribution classification. This new measure will be of most assistance for individuals approaching retirement, where they dispose of their family home in an effort to […]
Perth dentist case study
Financial Planning expertise adds polish to Perth dentist’s affairs Shelley’s experience was like many others when it came to organising her personal affairs. She’d found a financial adviser with whom she worked well but, when he inevitably left for greener pastures, she was offered a litany of replacements that changed too frequently for her liking. […]
Omnis retirement planning case study
Structuring retirement planning reaps results for former ‘do it yourselfer’ Retiree Ross led a varied and interesting career – from jumping out of army helicopters, to being a ski instructor and owning his own business – he’s never done things by halves. So when it came to selling his mum’s home and finalising her estate, […]
Omnis Financial Planning Spring News
It’s spring cleaning time! As the days get longer and the weather starts to warm up, its time to do some spring cleaning! This can also mean spring cleaning your personal finances. Remember to regularly review your loans to ensure you are getting the best interest rates, as this can save you thousands over the […]
The power of an attorney
Protecting your interests A power of attorney is a legal document that allows you to nominate someone you trust to make financial decisions on your behalf if you are unable to do so. A popular misconception is that a person’s partner can make financial decisions for them and manage their assets. However, unless a formal […]
Mythbusting super
5 super myths explained Although most of us have money in super, there are still some myths and misconceptions surrounding it. Myth 1: Super is a form of tax It’s understandable that some people think super is a form of tax. After all, you’re likely to see super payments on your payslip near the amount […]
Money doesn’t grow on trees
Giving children the skills to control their finances From the time they’re learning to crawl, parents begin teaching their children about right and wrong, personal safety, manners and morals. It’s not just about spending Children see their parents spend money, on one thing or another, most days. However, teaching children about important, less visible money […]
Suburban scammers
Suburban scammers pushing illegal early access to super The ATO has become aware of people in some suburban areas of major cities attempting to encourage others to illegally access their super early. Generally for a fee, scammers offer to help them to purchase a car, to pay debts, to take a holiday, or to provide money […]
Super housing measures
What the super housing measures mean for SMSFs The ATO has reminded members of SMSFs that they will be able to use their voluntary super contributions to assist with buying their first home, or to make a contribution into their super from the proceeds of the sale of their main residence (under changes passed by […]
