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Finance News

Tax implications of renting a room

Margaret is keen to rent out a room in her house, both for company and a little extra income, but would like to know more about how this will affect her tax liability. n

Federal Budget 2017

What’s on your Budget wishlist?

Attending the Budget Lock Up each year enables us to report immediately on the measures that affect older Australians. So, what are you hoping will be announced on Budget night?

Federal Budget 2016

Budget boost for top earners

New research shows that the top 10 per cent of earners collect almost half the negative gearing tax deductions and three-quarters of concessionally-taxed capital gains.

Federal Budget 2016

Cuts to CGT could save budget

The political appetite for changes to capital gains tax (CGT) continues to grow with the Greens unveiling a plan that would raise $119.5 billion over 10 years.

Disability Support Pension

Investment property and the DSP

Due to a disability, Lily may have to move from her home to the investment property that she owns, but isn’t sure what this will mean for her pension or tax liability.

News

Will your home be taxed?

A new report released by The Australia Institute has proposed that the capital gains tax exemption for main residences should be scrapped for properties valued above $2 million.

News

All taxes up for consideration

Tax concessions that tend to benefit the wealthy and were previously ruled untouchable by Tony Abbott, are now back on the table as the new Prime Minister reveals that nothing is off the table in regards to tax reform.

Finance News

No escaping Capital Gains Tax

Claiming a Capital Gains Tax exemption for a property takes more than just living in the place, as one taxpayer found out when the ATT ruled against him.

Finance News

Capital Gains Tax on the family home

YOURLifeChoices member Alan has heard that the Federal Government, should it be re-elected, may be planning to introduce Capital Gains Tax on the sale of the family home. Is there any truth to this rumour?

Legal & General

What is a testamentary trust?

Testamentary trusts are trusts created pursuant to your will once you pass away. In short, a trust receives your gift rather than your beneficiary. The benefits and mechanics of a testamentary trust are explained below.

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