News

Apportioning GST annually for business and private purchases

The general case regarding GST credits is that business owners can claim input tax credits relating to eligible business expenses when you lodge your business activity statement (BAS), which may be monthly or quarterly. However it is not unusual for business owners to occasionally make purchases that contain a private…

Will new LRBA rules stymie your SMSF contribution plans?

An “integrity” measure, which aimed to stop SMSF trustees from manipulating their total superannuation balance in order to keep below the $1.6 million threshold, may have the unintended outcome of reducing the appeal of LRBAs.Legislated changes to limited recourse borrowing arrangements (LRBAs) in regard to calculating an SMSF member’s total…

Shares and tax: A stockmarket investment primer

Investing in the stockmarket is a lot more common than it was years ago, with ordinary Australians having experience with shares and the stockmarket either directly or through managed funds or via their superannuation fund.Recent research conducted by the Australian Securities Exchange (ASX) found that around 60% of Australians hold…