(02) 9387 4300 , Level 16, Westfield Tower 2, 101 Grafton Street, Bondi Junction NSW 2022 AUSTRALIA
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  • Reverse mortgages: a retirement solution

    Reverse mortgages: a retirement solution

    Changes to the age pension assets test have left many retirees looking for alternative sources of income  to fund their retirement. On 1 January 2017, the assets test limit for part age pension rates dropped to $542,500 (from 793,750) for singles, and $816,000 (from approximately $1.1 million) for couples; and the taper rate doubled to $3 […]

  • Protecting your finances	after separation

    Protecting your finances after separation

    The end of a relationship is a particularly difficult time for most individuals – among the emotional pain comes burdensome administrative tasks, such as sorting out finances. Although these tasks may seem tortuous; it is best to address financial issues promptly to safeguard your finances against misuse and ensure peace of mind. Here are three […]

  • Simpler BAS for small businesses

    Simpler BAS for small businesses

    The ATO have introduced a simpler BAS to take effect from 1 July 2017 to help reduce GST compliance costs for small businesses. From 1 July 2017, small businesses will only need to report GST on sales (1A); GST on purchases (1B) and Total sales (G1) on their BAS. Businesses will no longer need to […]

  • ATO issues ruling on bad debts

    ATO issues ruling on bad debts

    The Australian Taxation Office (ATO) has issued a ruling that clarifies the circumstances in which a deduction for bad debts is allowable. Under section 63 of the Act, to obtain a bad debt deduction a debt must exist before it can be written off as bad. A debt exists where a taxpayer is entitled to […]

  • CGT exemptions for depreciating assets

    CGT exemptions for depreciating assets

    The disposal of a depreciating asset may incur capital gains tax (CGT) if the asset has been used for a non-taxable purpose (i.e. private purposes). However, there are a number of CGT exemptions that may apply to a capital gain or capital loss made from the disposal of a depreciating asset: Pre-CGT assets: you disregard […]

  • Extended deadline for SMSFs

    Extended deadline for SMSFs

    The ATO is targeting individuals (at, or approaching, retirement age) purporting to divert personal services income to a SMSF to minimise or avoid income tax obligations. A person earns personal services income (PSI) when 50 per cent of their income is earned from offering products or services that involve their skills, knowledge, expertise or efforts. Personal […]

  • Implications for short-term rentals

    Implications for short-term rentals

    Airbnb and other popular short-term accommodation services, can be a great way to generate some extra income, however, hosts need to be aware of their obligations and rising legal and regulatory issues. Before creating an Airbnb listing, or renting out your home to short-term tenants, it’s important to do your research, there may be certain […]

  • Asset allocation in super funds

    Asset allocation in super funds

    Asset allocation is designed to balance risk and return in a super fund portfolio by adjusting how much the fund invests in different assets based on risk tolerance, goals and investment time frame. The way in which an individual chooses to allocate their super to different asset classes is one of the most important investment […]

  • ATO lists tax traps

    ATO lists tax traps

    The Australian Tax Office (ATO) often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations. Due to enhancements in technology, the ATO has expanded its data matching capabilities which have improved the ability to identify incorrect reporting in tax returns. The ATO has released a list of behaviours and […]

  • Succession planning for family businesses

    Succession planning for family businesses

    Developing a sound succession plan can be a tricky process, especially for business owners looking to handover the business to family members. A succession plan will help to determine  your business’ capital value, worth and market price to ensure a smooth transition out of your business. Early planning can help to maximise the value of […]

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Level 16, Westfield Tower 2, 101 Grafton Street,
Bondi Junction NSW 2022

02 9387 4300

gpapas@oraclepartners.com.au