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With apparently at least one in three marriages ending in divorce—and with countless more defacto relationships breaking down—the capital gains tax (CGT) roll-over provisions for “marriage and relationship breakdowns” have assumed increasing relevance. These rules provide for the “roll-over” of any capital gain on the transfer of assets between the separating parties so that there [...]

It seems that “debt recycling” is the favour of the month among financial advisors (and some financial institutions too). And if you do a Google search for the term you find that it is being quite heavily marketed. It is being marketed as an easy way to convert non-deductible home loan interest into deductible investment [...]

A question that often gets asked is who can set up an SMSF together. The rules The answer is practically anyone can set up an SMSF together. You can have up to six people in an SMSF, and they’re often family members. The most common setup is you and your partner running the fund together, [...]

If you have lived in Australia for many years and bought yourself a home here but decide to leave and go and live elsewhere, and you wish to sell your home, you should do so before you leave Australia. Otherwise, if you sell your home after you have left Australia (and have become a foreign [...]

Don’t let share market volatility get you off course with your superannuation investment strategy. Market volatility Market downturns can make anyone nervous, but sticking to your investment strategy is key. If you move your investments to cash or a more conservative option after the market has fallen, you’re effectively locking in your losses. Decisions driven [...]

While Australia doesn’t have a joint filing option for married couples, there are some aspects of your individual tax assessment that depend on your spouse’s income. For example, your eligibility for the private health insurance rebate and your liability for the Medicare Levy Surcharge both take into account your spouse’s income. Other tax attributes affected [...]