How the assets test will work in 2017 could increase your Age Pension entitlements, or take some or all of them away.
With revisions to the Age Pension assets test just around the corner, it’s important to understand how the changes could impact you, particularly with part-pension thresholds somewhat tighter than initially projected.
Non-arm’s length income (NALI) has received a lot of attention lately, particularly in regards to Limited Recourse Borrowing Arrangements (LRBA). NALI has never really received great attention, so much so that many public practitioners may not have even come across a SMSF that receives such income. However, the issue of increased interest in related party lending for LRBAs have recently grabbed much attention.
Three main controls on liability risk
If you run a business you personally, and the business, are subject to liability risk. Controlling liability risk involves three main elements:
Author: Stephen Gethin, Director, Fortuna Legal
Large tax savings through “full-family” income splitting
Most people look at wills solely from the perspective of the benefits to their family after they leave this world. While that remains a vital consideration, there are also substantial benefits if you can arrange for those who wish to leave assets to you to do so in the most tax-effective way.
The State Government announced, last week, funding of up to $20,000 will be available for SMEs through the 2015 Innovation Vouchers Program
