Good news for Australian homeowners: mortgage stress is showing signs of easing, and one key driver behind this is the recent implementation of the stage three tax cuts. These cuts have given Australians a break by reducing their tax burden, providing some much-needed relief in a challenging economic environment. According to Roy Morgan research, nearly […]
Mortgage Stress Eases as Tax Cuts Offer Relief to Homeowners Read More »
As the cost of living continues to rise in Australia, many families are exploring ways to reduce their financial burdens. One topic of discussion has been whether joint tax returns could benefit couples by allowing them to split income and take advantage of lower tax rates. This potential change, if introduced, could offer significant tax
As we approach the holiday season, Australians are gearing up for festive shopping sprees. Unfortunately, while many are looking forward to securing great deals during events like Black Friday, scammers are just as eager to cash in on unsuspecting shoppers. According to the ACCC, Australia saw an all-time high in scam-related losses in 2023, amounting
Season of Giving or Scamming? BOA & Co.’s Guide to Avoid Holiday Ripoffs Read More »
When it comes to safeguarding your family’s future, a family trust is one of the most powerful and effective tools available. Many people mistakenly believe that trusts are only for the wealthy, but the truth is, anyone who wants to protect their assets and ensure a smooth transfer of wealth to future generations can benefit
Protect Your Assets: The Top 7 Benefits of a Family Trust Read More »
Navigating the world of investments can be both exciting and daunting, especially for young Australians just starting out. With the right guidance, even modest investments can grow into substantial returns over time. BOA & Co is here to help you understand the best investment opportunities available today, tailored specifically for the unique needs of younger
Smart Investment Options for Young Australians: BOA & Co’s Top 10 Picks Read More »
When it comes to establishing a legal structure for your not-for-profit organisation, the choice between a company limited by guarantee and an incorporated association is crucial. This decision can impact everything from compliance and reporting requirements to operational flexibility and cost. In this guide, we compare these two structures to help you determine the best
Staying compliant and consistent with your tax planning can result in significant savings and redirect your finances towards what truly matters to you and your business. According to the ATO, tax planning is the right of Australian taxpayers to arrange their financial affairs to minimize tax legally. However, it’s crucial to distinguish between lawful tax
How High-Income Earners Can Save Thousands with Effective Tax Planning Read More »
Tax residency is a critical factor in determining an individual’s tax obligations in Australia. Whether you are a resident, non-resident, or temporary resident, your residency status significantly influences the types of income and gains you will be taxed on. However, for many individuals with ties to multiple countries, determining residency status can be complex and
Tax Residency for Individuals: Essential Insights for Accurate Client Advisory Read More »
As the demographic of Self-Managed Superannuation Fund (SMSF) members ages, managing these funds effectively becomes increasingly crucial. With over 50% of SMSF members now over the age of 60, the need for strategic planning and risk management in SMSF administration is more pressing than ever. This article delves into the essential strategies for managing an
Managing an Ageing SMSF Client Base: Essential Strategies for Success Read More »
Related party transactions often pose unique challenges for practitioners working with private groups. These transactions require careful consideration of tax implications to ensure compliance with integrity rules and to avoid mismatches between the economic substance of the arrangement and the resulting tax outcome. Understanding and applying these rules is essential to managing the tax impact
Navigating Related Party Transactions: Key Integrity Rules and Tax Adjustments Read More »