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Wondering if your beneficiaries will pay tax on your superannuation death benefits? The answer is it depends on several important factors. Most people will have heard of Benjamin Franklin’s quote “In this world, nothing is certain except death and taxes”. He raises a valid point as the tax office will be ready to take their [...]

There are many types of nominations offered by different funds. Knowing which one suits your circumstances is key to ensuring your superannuation ends up in the right hands. Types of nominations Individuals can direct or influence their superannuation fund trustee as to how they want their death benefits distributed by completing a death benefit nomination [...]

A question that often gets asked when dealing with death benefit nominations is whether a person will qualify under the interdependency or financial dependency definitions. This is an important consideration as meeting the dependency criteria will enable potential beneficiaries to qualify as a dependent and therefore allow them to receive a death benefit. Interdependency relationship [...]

If you’ve been putting off upgrading the inefficient office air-conditioner, a new 20% bonus deduction might just be the incentive you need to help beat the heat before it arrives with a vengeance! Whilst the small business Technology Investment Boost has now ceased1, not only can you still take advantage of the Skills and Training [...]

A person’s residency for tax purposes can be one of the most difficult issues to determine in Australian tax law. And it is not just a question of whether a person is a “citizen” of Australia. Moreover, it is highly relevant from a tax point of view, as a person who is a resident of [...]

Your superannuation death benefits must be paid to someone when you die. That somebody will usually be your estate or your nominated beneficiary (also known as your dependents). Paying death benefits to your estate Unlike other assets such as shares and property, your superannuation and any insurance benefits you have in superannuation do not form [...]