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Tax

Tax-effective ways to boost your super

Tax-effective ways to boost your super

After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax. With the Reserve Bank reducing interest rates to record lows and not anticipating a […]

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Making your savings work harder

Making your savings work harder

With tax cuts and stimulus payments on the way, Treasurer Josh Frydenberg is urging us to open our wallets and spend to kick start the national economy. But if your personal balance sheet could do with a kick along, then saving and investing what you can, also makes sense. One […]

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Granny flats: tax tips and traps

Granny flats: tax tips and traps

The idea of adding a granny flat to your property sounds like a great idea. A property to rent out to generate some welcome extra income, or a home for adult children or mum and dad in their later years. But there are important tax and personal considerations to consider […]

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Federal Budget 2020-21 Analysis

Federal Budget 2020-21 Analysis

Building a bridge to recovery In what has been billed as one of the most important budgets since the Great Depression, and the first since the onset of the COVID-19 pandemic dragged Australia into its first recession in almost 30 years, Treasurer Josh Frydenberg said the next phase of the […]

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Paying taxes and maximising tax deductions

Paying taxes and maximising tax deductions

Tax time can feel stressful; however, paying close attention to allowable deductions may lower the tax you need to pay on your tax return. Here are some allowable deductions you may wish to consider when preparing your next return. While every person’s financial circumstances are unique, it can be helpful […]

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Super changes add flexibility

Super changes add flexibility

Just when you thought you had a grip on the superannuation rules, they change again. This time though, the changes are mostly positive, especially for older super members keen to top up their savings. From 1 July 2020, changes came into effect with the potential to help retirees as well […]

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Family trusts under ATO scrutiny

Family trusts under ATO scrutiny

Family trusts have stood the test of time as a means of protecting family and business wealth, and managing the distribution of trust income in a tax-effective way. But the misuse of these tax benefits by a small minority periodically puts trusts in the firing line of the Australian Taxation […]

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Tax Alert June 2020

Tax Alert June 2020

With COVID-19 dominating everyone’s thoughts, employers are being offered a brief window of opportunity to get their tax affairs in order with the new Superannuation Guarantee (SG) amnesty. There is also a range of virus related assistance on offer to help affected business and individual taxpayers.  Here’s a roundup of […]

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How COVID-19 changes tax time

How COVID-19 changes tax time

As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different people. For some, staying at home has meant you have greater savings; for others, the virus has meant lower wages […]

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Instant asset write-off extended

Instant asset write-off extended

To further support Australian businesses through the fallout resulting from COVID-19, the government has extended the $150,000 instant asset write-off for an additional six months to 31 December 2020.  Initially announced on 12 May and intended to last until 30 June, the government’s $17.6bn stimulus package in part temporarily increased […]

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How COVID-19 changes tax time

How COVID-19 changes tax time

As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different people. For some, staying at home has meant you have greater savings; for others, the virus has meant lower wages […]

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End of Financial Year checklist

End of Financial Year checklist

It always takes some planning to get your finances in order for the end of financial year, and this year may look a little different, come June 30. The COVID-19 pandemic may have impacted your circumstances and therefore your situation could be looking different to normal.  Perhaps you have been […]

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New tax shortcut for employees working from home

New tax shortcut for employees working from home

With many people now working from home because of COVID-19, some of the expenses your employer normally pays – such as electricity, heating and cooling – are now coming out of your wallet. Although some employers may provide a daily allowance to help with these additional costs, if you’re not […]

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Accelerated depreciation deductions to benefit businesses

Accelerated depreciation deductions to benefit businesses

The Government has accelerated depreciation deductions for the next 15 months. Up until June 30, 2021, businesses turning over less than $500 million will be able to deduct 50 per cent of the cost of any eligible asset the moment it’s installed. It’s predicted these two tweaks to the investment […]

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Cruising through the finish line

Cruising through the finish line

Tax tips for EOFY The end of financial year can sometimes feel like a race to the finish. To help you cruise through the finish line come June 30, we’ve prepared a handy list of tips for both businesses and individuals. Small business tips Pay expenses, delay income In most […]

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Tax Alert – June 2019

Tax Alert – June 2019

Tax deductions face greater scrutiny With the end of the financial year only weeks away, the ATO has announced that one of its key areas of focus this financial year-end will be rental property, although returns from taxpayers using cryptocurrency assets are also expected to come in for close attention.  […]

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The information provided on and made available through this website does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Centaur Financial Services do not warrant the accuracy, completeness or currency of the information provided on and made available through this website. Past performance of any product discussed on this website is not indicative of future performance.

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