In the most recent budget, the government changed the taxation laws such that minors receiving non-working income WILL NOT be entitled to the low income tax offset of $1,500 from 01 July 2011.

This means that if you have kids with investment monies (such as a bank balance that has accrued from all that birthday money), they might find they have a tax liability at the end of the financial year.

It also has an impact on your more complex affairs such as paying distributions from a famil...

Move into retirement and be better off

If you’re between 55 and 75, establishing a transition to retirement pension could help you:

• ease into retirement by reducing your working hours without reducing your income
• increase your retirement savings without impacting your income if you are still working full time
• boost your income today so you have more money to cover your everyday living expenses.

‘Transition to retirement’ rules were introduced to allow working Australians aged 55 ...

With the end of financial year just around the corner, there are many ways you can increase your retirement savings by implementing tax-effective super strategies.

How you can benefit

The end of financial year is a great time to think about how you can boost your super savings before 30 June, and get your financial affairs in order.

There are many strategies you can implement before the end of financial year to boost your retirement savings and achieve tax savings, such as taking advantag...