Welcome to this month’s client newsletter. We’ve curated a selection of timely articles covering key developments in tax, superannuation, and financial planning – all designed to keep you informed and in control.
Unlocking savings – your guide to Government concession cards – From the Commonwealth Seniors Health Card to the Pensioner Concession Card and other state-based Seniors Cards, we explore how these benefits can help reduce your out-of-pocket costs on healthcare, prescriptions, transport and more.
CGT consequences of divorce and relationship breakdown – Transferring assets during a divorce or separation can have significant tax implications. We break down the key capital gains tax rules and conditions to be aware of when navigating this complex area.
The great wealth transfer – are you ready? – With trillions set to change hands between generations over the coming decades, now is the time to understand the potential tax consequences – whether you’re passing wealth on or expecting to receive it. We outline planning strategies and pitfalls to watch out for.
Are SMSFs a suitable path to retirement control? – Thinking about managing your own super? We look at who SMSFs suit, what’s involved in setting one up, and other consideration if you’re thinking of going down this path.
What to expect from upcoming tax reform – With the Treasurer’s economic roundtable scheduled for late August, we explore the likely focus areas – including productivity, resilience and fiscal sustainability – and what real reform might look like.
Tax deductibility of clothing – Claiming work clothing on your tax return isn’t as straightforward as many think. We outline what is and isn’t deductible, so you don’t fall foul of the ATO.
We hope you find this edition helpful. As always, feel free to reach out with any questions.
Happy Reading.