Tax & Structuring

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 [...]

A little-known tax incentive that is aimed at encouraging businesses to improve energy efficiency is the small business energy incentive (SBEI). You will have to jump through a few hoops to qualify, but depending on what sort of depreciating assets you have acquired between 1 July 2023 and 30 June 2024 (the bonus period), you [...]

A recent decision by the Full Federal Court around a man’s tragic death by suicide clarified the standing of a de facto spouse in the context of a non-lapsing death benefit nomination on a life insurance policy made by the deceased person. Just prior to C’s death in September 2019, the death benefit under his [...]