The impending changes to speed up your HELP repayments The Government has moved to put an end to ‘eternal students’ who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt. New lifetime caps on Higher Education Loan Program (HELP) debt will prevent people from constantly going…
How and when to scale Whether it’s a job with more money, or a smart-phone with more memory, people are always looking for bigger and better – but it doesn’t always work out well. If you’re a small business owner or enterprising startup, you’ve undoubtedly daydreamed about taking the next step to make it big.…
Why ‘property flipping’ is the next ATO target The tax law does not allow you to ‘flip’ a property tax-free even if you are living in it. Most people think that they can move into a property, renovate it, and then sell it without paying tax. The main residence exemption – the exemption that protects…
Legislation restricting access to the small business company tax rate reduction entered Parliament in October. The changes specifically preclude companies with passive investments such as rental property income from qualifying for the small business entity tax rate of 27.5%. For the 2017 income year a company could access the reduced company tax rate if it was…
Arguably, an SMSF can invest in cryptocurrencies but there are several factors to take into account before investing. Cryptocurrencies are a high-risk product as they are blockchain driven and unregulated. While there have been numerous stories in the media about massive gains made on the currency by early investors, the price fluctuates, cryptocurrencies face new…
If you hold cryptocurrency for your own personal use and you paid $10,000 or less to acquire the digital currency, then there is generally no tax impact when you dispose of the currency. However, if the cryptocurrency is not held for your personal use and enjoyment then there are some tax issues that can arise.…