What Budget announcements will become reality?
The Coalition has formed Government but what happens now to all those Budget announcements? We take a look at what announcements are likely to pass Parliament and why.
While the Senate count continues, like the last Parliament, the Coalition will not have a majority in the Senate. The Government needs the support of Labor, the Greens, or a combination of smaller parties and/or independents to successfully push through its Budget reforms. From the outset we know that ther
Bad Deeds: Is your SMSF at risk?
Your SMSF’s trust deed is its rulebook. If the deed does not allow or recognise something then the trustees can’t do it. Despite this, a lot of trustees are unaware of what their trust deed says – it was just something that was required when the fund was established. The problem with any document is that unless you amend it, it is only current for the circumstances that existed at that time. However, the law changes regularly and so do individual circumstances. This month, we
Should your SMSF buy property in the United States?
One of the most common questions from clients with a Self Managed Superannuation Fund (SMSF) is, can I buy property? Followed by the second question, can I buy property in the United States? SMSFs provide investment flexibility for those that understand the rules. They can also be a significant liability if you get it wrong. There are a few key things to check before purchasing a property: The SMSF’s investment strategy and trust deed must allow for the purchase you are conte
It’s Not Easy Being A Foreigner
If you are not an Australian resident for tax purposes, you are excluded from many of the tax breaks available to residents and an increasing target of the Australian Taxation Office. We explore the widening gap between residents and non-residents. Scrutiny of Australian Investments With residential property prices soaring, foreign investment and ownership is in the spotlight. However, foreign residents and temporary visa holders cannot buy established residential property –
What to expect in 2015
The Economy It’s almost impossible to predict what the local and global economic environment has in store for us in 2015. The ‘who knows’ factor is adding to uncertainty and in general, business is not ramping up for growth but maintaining a ‘steady as she goes’ approach – meaning low investment and jobs growth. Outcome of the reserve bank board meeting The Reserve Bank of Australia ("RBA") have yesterday joined a chorus of other central banks and cut interest rates by a quar
