ESV – Business advisors and accountants sydney — Personal Tax & Superannuation Archives - Page 5 of 6 - ESV

New legislation to change the application of salary sacrificing

The ATO recommends that employers review their salary sacrifice arrangements due to new laws that will come into effect from 1 January 2020. In the new year, employers can no longer use salary sacrificed contributions to reduce their superannuation guarantee obligations, regardless of the amount employees elect to voluntarily contribute to their super funds.

Top tips and traps to watch when owning or selling UK property

Lisa Spearman is a partner with Mercer & Hole in London. Mercer & Hole is a member of our International Alliance TIAG and Lisa will be joining us when ESV hosts the TIAG conference in Sydney from October 30. The UK has several specific rules relating to real property and we have asked Lisa to highlight some of the key issues to watch.

Additional complexity for Non-resident Trust beneficiaries

The Australian Tax Office (ATO) have recently released two draft taxation determinations TD 2019/D6 and /D7, which address the tax treatment of capital gains distributed by Australian resident trusts to non-resident beneficiaries.

2019 Budget Special: Personal Tax

The main aspect of the Federal Budget were the changes announced to personal income tax bandings and rates albeit that some of these are phased in over a long period. The instant changes are focused on the Energy Assistance payments and the doubling of the low to middle income tax offset (LMITO).

CGT for foreign residents

The controversial proposal to remove the entitlement to the Capital Gains Tax main residence exemption for foreign residents has been reignited with the Treasurer confirming that the proposed change "remains our Government's policy". The change originally announced in the 2017-18 Federal Budget was originally introduced on 8 February 2018, however, the bill introducing the law lapsed when Federal Parliament was prorogued for the 2019 Federal election.

Simplifying the processes for SMSF

The Government is aiming to simplify the process for Self Managed Superannuation Funds (“SMSF”) to claim exempt current pension income (“ECPI”) through amendments proposed in the 2019/20 federal budget.

Our Super Outlook for 2019-2020

The start of the new financial year is often a time where we review our overall financial strategy and set new goals. For many of us, superannuation savings play a significant role when it comes to formulating our financial strategy. Therefore, it is vital for you to be aware of the relevant thresholds and rates as it allows you to effectively plan your strategy without being in breach of the thresholds.

Business advice
and accounting

Why us

What we do

Who do we help

Work with us

What we think

Working to give back

Contact us

Personal Tax & Superannuation

Topic filters

New legislation to change the application of salary sacrificing

Top tips and traps to watch when owning or selling UK property