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Difference Types of Business Structures in Australia

Before you start a business, there are some facts you will need to know. The business structure you choose might impact your business registration process; your tax position’ the safety of your personal assets; and the continuity of the business upon change of ownership. On the other hand, the common mistake that business owners have …

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What are the 3 Types of Residential Properties that can be Acquired by SMSF from Related Party?

There are numerous restrictions prescribed by SIS legislation that the Self Managed Super Fund (SMSF) should constantly comply with when doing investments. One of the most rigorous rules is that the assets of members; or a related party are prohibited from being acquired by trustees. However, there are three exceptions applied to permit this related …

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Common Reporting Standard (CRS)

Australia is one of countries that has committed to new global standards – Common Reporting Standard (CRS) on the implementation of automatic exchange of financial account information. CRS is a new information-gathered and reporting requirement for financial institution located in participating OECD countries. The Australian government has enacted laws and entered into international agreements from …

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The 1st July 2021 Superannuation Changes

Changes from 1st July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account. In general, your superannuation is either in an accumulation account (when you are building your super), a retirement account (when you meet preservation age and certain conditions …

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