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TPD Payouts and SMSF Tax: What Members Need to Know

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Total and Permanent Disability (TPD) insurance payouts can provide vital financial support for SMSF members experiencing a life-changing event. However, understanding the tax implications of these payouts is crucial, as they can vary significantly based on the member’s age and circumstances. Tax Treatment of TPD Payouts Key Considerations for SMSF Trustees Practical Steps for SMSF […]

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ATO Updates: What Australian Property Owners Need to Know About New Tax Rules

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Effective from 1 January 2025, the Australian Taxation Office (ATO) has made significant changes to the foreign resident capital gains withholding (FRCGW) regime, now requiring all Australian resident property sellers to obtain a clearance certificate, regardless of their property’s value. This update has critical implications for property owners, real estate agents, and brokers across the

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6 Strategies to Simplify Tax Time for High-Income Professionals

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Navigating tax time can be a complex task, especially for high-income professionals such as doctors, lawyers, and executives. With multiple income streams, investments, and potentially complex deductions, ensuring compliance while optimizing tax benefits is crucial. At Boa & Co. Chartered Accountants, we’ve put together six practical strategies to help you tackle tax time with confidence

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2025 Insights for High-Income Professionals: SMSF Considerations for Surgeons, Specialists, and Executives

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As we approach 2025, high-income professionals such as surgeons, medical specialists, and corporate executives need to prioritize strategic decision-making within their Self-Managed Super Funds (SMSFs). With regulatory changes, evolving market conditions, and emerging compliance obligations, staying ahead is essential to protect and grow wealth. Here are some of the key SMSF considerations tailored for high-income

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Navigating SMSF Audits: Why Your Investment Strategy Matters

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Self-managed super fund (SMSF) trustees, particularly high-income earners such as medical specialists, legal professionals, and business executives, must prioritize their investment strategy documentation to ensure compliance and avoid scrutiny by the Australian Taxation Office (ATO). Properly maintaining and reviewing this documentation throughout the year is not just a regulatory requirement but a critical step in

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Navigating Audit Challenges for High-Income Professionals in 2025

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As we move toward 2025, the audit landscape is undergoing significant transformation. For high-income professionals such as medical practitioners, legal professionals, and business executives, these changes present both opportunities and challenges. Staying compliant while maximizing financial outcomes requires a proactive approach, blending innovation and expertise. Let’s delve into the key changes affecting the audit industry

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Accounting Mistakes That Could Be Holding Your SME Back—And How to Fix Them

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Streamlining financial processes can save small businesses from unnecessary losses and prepare them for sustainable growth in 2025. Small and medium-sized enterprises (SMEs) have had to navigate turbulent waters in recent years. From navigating economic fluctuations to adapting to regulatory changes and meeting evolving consumer expectations, the challenges have been relentless. However, while these headline-grabbing

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What Does a Tax Accountant Do for High-Income Earners?

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Managing taxes is a critical component of financial planning, especially for high-income earners such as doctors, lawyers, executives, and business owners. These professionals often face intricate tax situations due to multiple income streams, investment portfolios, and complex business structures. Boa & Co. Chartered Accountants specialize in providing tailored tax solutions to meet the unique needs

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NSW Payroll Tax Review: Implications for High-Income Professionals in Specialist Sectors

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The New South Wales government’s recent announcement of a parliamentary inquiry into the Payroll Tax Act has sparked significant interest across industries, particularly among high-income professionals such as surgeons, lawyers, financial advisors, and consultants. This review aims to address contentious issues related to contractor and employment agent provisions that directly affect how payroll tax is

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Maximize Your Investments: How Boa & Co. Chartered Accountants Can Help

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Managing complex investment portfolios can be both an exciting and daunting task. Whether you are a seasoned investor, a high-income professional like a surgeon, engineer, or lawyer, or someone venturing into portfolio diversification for the first time, having a trusted specialist accountant on your team can make all the difference. Specialist accountants bring a wealth

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