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Capital Gains and Renounceable Rights
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Articles
Change to Early Access Rules
Capital Gains Tax – which year?
SMSFs may be missing out on allowable deductions
Checklist for Employers Year-end
Year-end Tax Planning – Trusts
Year-end Tax Planning – Small Business
Year-end Tax Planning – Individuals
Reminders and Tax Strategies for SMSFs pre-year end
Overtime Payments May Eliminate Claims for Unfair Dismissal
Tips and traps for acquiring SMSF assets from related parties
ACCC issues scam warning
SME Dispute Resolution
Land Tax – Victoria
R&D incentives at risk
ATO adds ‘hot issue’ to its SMSF target list
Additional Super Contributions Not Appropriate for all
Issues arising from an underpaid pension
Salary and Superannuation after the death of an employee
IPA calls for zero pc tax rate
Budget 2015 - some professional opinions
Australian Government - Budget 2015
Looming end to SMSF Borrowings?
ATO warns SMSFs on franking credits scheme
Lump Sum Payments - Employer Reporting
Small business tax cuts 'not enough', says IPA
Year-end Tax Planning – Individuals

 

A checklist of a few items to examine further, before year-end.



             


  • Are there some small transactions that collectively might help either reduce your income to a lower tax bracket or reduce the adjusted taxable income to enable access to offsets or liability to surcharges?
  • Ensuring personal superannuation contributions are received and cleared by 30th June.  
  • Are there any capital gains that might be reduced by converting an unrealised capital loss into a realised capital loss?
  • Are there any expenses that may be paid shortly that can be paid prior to year end?  Repairs to a rental property are a typical example.
  • Donations paid in June have slightly better tax impact than donations paid in July and remember philanthropic arrangements are akin to deciding how your taxes are spent.
  • Do you have any Higher Education Loan Programme or similar debts that could be reduced with a discount, rather than a compulsory deduction on the tax return?
  • Remember the business loss rules now include $250,000 “drop dead” test.  Whilst you might pass all the other tests, if the adjusted taxable income is more than $250,000 the business loss will quarantined.

 


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25th-June-2015
 

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