News & Insights

Insurance within superannuation is a valuable option that many Australians use to help protect their financial security. While there are clear benefits, it’s important to consider both the pros and cons to decide whether holding insurance within superannuation is the right choice for you.

Many Australians dream of moving overseas for a short-term adventure or a permanent lifestyle change. For some, the move is meticulously planned; for others, it’s a spontaneous leap into the unknown.

Regardless of the reason, leaving Australia can lead to many questions about tax, superannuation, property, and even Medicare.

When it comes to work-related expenses, the Australian Taxation Office (ATO) allows employees to claim immediate deductions for depreciating assets that cost $300 or less.

While this rule is straightforward, four tests must be passed to qualify for an immediate deduction. Let’s break down these tests and how they work.

Running a business in Australia comes with many responsibilities, and one of the most important aspects is understanding your liability. 

Business liability refers to the legal responsibilities that a business owner or company faces for their actions, employees, products, or services. 

Superannuation is one of the best ways to save for retirement, but it’s not without its risks—especially if you’re between 40 and 60 and starting to think about winding down your working life. 

From market volatility to outliving your savings, there are potential bumps along the way that can affect your retirement plans. 

As an employer, when you provide vehicles like sedans, station wagons, or passenger vans for your employees’ private use, you might be offering a car fringe benefit.

This applies to the employee behind the wheel and applies if their family members or associates use the vehicle. Understanding the implications of this can be crucial, as it triggers Fringe Benefits Tax (FBT).