Duncan Dovico - The Bottom Line

A GUIDE TO CGT CONCESSIONS

There are four capital gains tax (CGT) concessions that can be applied to the sale of small business assets.

Small Business CGT Concessions

These concessions, when applied correctly, can be extremely effective in reducing your tax liability on the sale of small business assets.

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Make the most of transitioning to retirement

As of July 1 2014, there have been some changes to the concessional superannuation contributions cap, which is welcome news to the over 55s.

The higher $35 000 concessional superannuation contributions cap, which was previously only available to people over the age of 60, has now been extended to anyone over the age of 50.

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ATO targets motor vehicles

Over two million motor vehicle records are set to be examined in an attempt to identify non compliant taxpayers.

Records for the sale, transfer and registration of vehicles valued at over $10,000 will be scrutinised for the 2013-14, 2014-15 and 2015-16 financial years.

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What is in your business partner's will?

Two minute scenarios...

You might think it’s none of your business. Well yes, and no. If you have a business partner wouldn’t you like to know who your new business partner could be? Might that be an issue for you?

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Which bank?

Times have certainly changed within the lending and banking space…

Gone are the good old days of long term customer loyalty, of being able to speak to a banker who knows you and your family, and of being able to walk into a bank without a teller upselling the bank’s offerings.

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PRACTICE NEWS

CONGRATULATIONS AMANDA

We are delighted to announce that Amanda Castricum, Director, and her husband Nick are expecting their first child in early July. We wish them all the best for baby’s arrival and the exciting times the future holds for them as a family.

Will the baby be born in the 2015 or 2016 financial year?