WHAT DOES THE BUDGET MEAN TO SUPERANNUATION?
Stability and confidence for superannuation is the good news coming out of the 2017-18 Federal Budget.
The key changes proposed for superannuation are
1. Downsizing exemption to superannuation caps;
2. First Home Super Saver Scheme;
3. Integrity of limited recourse borrowing arrangements
Click here to read more about superannuation changes in the federal budget.
ARE YOU PLANNING TO SELL YOUR BUSINESS IN THE NEXT 5 YEARS?
Since 1999 there have been measures in place to assist the small business community and effectively provide concessions on the amount of CGT payable on the sale of a business. The concessions (which are called the Small Business Concessions – SBC) are significant and, with proper planning, will allow you to minimise any CGT that you might pay on the sale of your business.
There are four main concessions available which we have discussed in this article.
FEDERAL BUDGET – SUMMARY OF OTHER BUDGET ANNOUNCEMENTS
Below are some of the other budget announcements that might be of interest.
1. $20,000 instant asset write-off extended
2. Medicare levy to increase
3. HELP Debt repayments
4. GST on new residential property
5. Deductions for residential rental property reduced.
To read more on these topics, please click here.
YEAR END TAX PLANNING – WHAT DOES YOUR SMSF ADMINISTRATOR NEED TO KNOW?
With another financial year end just around the corner now is the time to take a look at your SMSF to see if it’s ready for 30 June.
We have prepared a quick checklist of what we need to know as your fund administrator.
S&W STAFF
At Stanley & Williamson we have a team of around 25 people. We are fairly sure that you won’t know everyone, so we’d like to continue introducing some of them to you.
Name: Kimberly Strathern Position: Personal Assistant Has been with us for: 8 months
Loves: Rabbits and reading Is passionate about: Gym
QUOTE
Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.
Albert Schweitzer
Kreston Stanley Williamson Team
*Correct as of May 2017
*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.
