Offset Accounts and Trust Structures: Getting It Right
Offset accounts are a powerful tool for reducing interest payments on loans. However, when combined with trust structures, they can introduce complexity. Many family groups and small business owners hold loans or offset accounts in various entity name, either personal...
Division 296 Superannuation Tax Update: What the Latest Changes Mean for High-Balance Super Funds
For a detailed overview of the original Division 296 proposals and common misconceptions, see our previous blog: Division 296 Superannuation Tax Explained: Common Myths Debunked. Treasurer Jim Chalmers has announced significant updates to the Government’s proposed...
Debunking Common Myths About Division 296 Tax
Division 296 Superannuation Tax Explained: Common Myths Debunked While the Division 296 tax is still yet to be legislated, it’s looking increasingly likely the tax will be introduced. For individuals who may be impacted by the change, it’s critical to understand how...
How to Manage ATO Communications in the Digital Age
In recent years, the Australian Taxation Office (ATO) has significantly expanded its use of digital platforms, changing how it communicates with taxpayers. Most ATO correspondence is now sent directly to you, not your tax agent. While New Leaf Advisory actively...