A powerful new tax planning tool

A new superannuation contribution rule allows taxpayers to claim a deduction for any personal superannuation contributions. The gives people greater flexibility in the way they manage their super accounts, and a tax planning tool. Under the old rule an individual…

ATO targets aggressive SMSF tax planning

The Australian Taxation Office has issued a warning to self-managed superannuation fund trustees that it will crack down on trustees using tax planning mechanisms to divert business or personal services income into their funds to reduce tax. Kasey Macfarlane, ATO…