We are very please to announce that two of our senior accountants, Jarrad and Adam, have been offered and accepted positions as Associates here at Charman Partners. It is always great to bring 'new blood' into the management ranks and we are looking forward to their continued success and contributions. Jarrad Andrews joined Charman Partners [...]
Inside this month's Your Knowledge Update; we explore the important legislative changes to CGT & the family home which effect Australian non-residents and summarise the help available to those impacted by the bushfires. Download this month's issue here - Your Knowledge - February 2020.
Inside this month's Your Knowledge Update; the vacant land deduction changes that will hit 'Mum & Dad' property developers, the changes to how SG is calculated for certain employees and we investigate if the ATO can take money out of your account. Download this month's issue here - Your Knowledge Update - November 2019
The Federal Government has recently passed new legislation through Parliament to introduce the First Home Loan Deposit Scheme. The scheme acts as a way for first time homebuyers to enter the property market and purchase their first home with a deposit as low as 5%. The Government would act as a guarantor for the remaining [...]
What is your preservation age and what does it mean for you? There is a misconception out there that everyone’s preservation age is 55, however as of 2015 this has changed. A person’s preservation age is now dependent on their date of birth, the table below details how to determine your preservation age. Date of [...]
As of 1st October 2019, the ATO will alter an SMSF’s status on the Government’s ‘Super Fund Lookup’ website to ‘regulation details removed’ if the SMSF is more than two weeks late on any annual return lodgement due date. The ATO will only restore the SMSF’s complying [...]
Inside this month's Your Knowledge Update; the superannuation guarantee amnesty, what the historically low interest rates mean for you and an alert about trust distributions to non-resident beneficiaries. Download this month's issue here - Your Knowledge Update - October 2019.
The ATO have introduced a new schedule for personal income tax returns for the 2019 income year. This new schedule is in response to the ATO’s view that many taxpayers are overstating their allowable deductions and that the cost to Treasury is measured in billions of dollars. The new schedule requires details on an item [...]
Inside this month's Your Knowledge Update, the ATO is clamping down on undisclosed foreign income, what rental property expenses you can and can't claim and ATO concerns about the lack of diversity with SMSF investment strategies. Download this month's issue here - Your Knowledge Update - September 2019. rent online concept, woman using internet website for [...]
From the financial year 2019 through to 2022, there are two tax offsets with similar sounding names that taxpayers may be able to qualify for at the same time. These offsets are non-refundable, which means they reduce your tax liability but any unused portion will not be refunded. These offsets are calculated automatically when you [...]