Client Newsletter – February 2015

Welcome to the first MWM Advisory newsletter for 2015, where we start the year with a broad spread of topics – who says you can’t please all the people all the time?

This month our newsletter topics include:

  • 〉 A recent ATO notification raised concerns that some self-managed super fund trustees may not be aware of the risks of holding property investments and how that may interfere with other aspects of the fund. We delve into the details.
  • 〉 We don’t know any bankrupts but we’ve met a bloke who does. In this month’s newsletter we look at the tax implication around commercial debt forgiveness. An interesting area but one we hope you never need to enter as debtor or creditor.
  • 〉 Certain ‘special professionals’, such as artists and inventors, are entitled to average their income across four years to ensure a fair rate of tax on their sometimes inconsistent incomes. This month we look at the ‘hows’ and ‘whys’.
  • 〉 Partnerships evolve and dissolve and new partnerships must be formed at general law. There are also particulars around ‘reconstituted’ partnerships to address. Everything you need to know is in the newsletter.
  • 〉 The ATO has acknowledged that a big gap of understanding exists among employers and workers regarding status of an ‘employee’ or ‘contractor’. We clean up the confusion by busting 12 common myths.

And us usual, please pick up the phone if you want to talk through turning anything in the newsletter to your advantage. You know we’re here to help.

 

For the full newsletter  CLICK HERE  〉

Celebrate the End of Financial Year with your team and ours

Celebrate the End of Financial Year with your team and ours

The End of Financial Year (EOFY) is upon us. For business owners, like you and I, there are many moving parts to be aware of. There are yearly financial statements to create, taxes to pay, deductions to claim, and documentation to submit to the ATO.

30 June is coming – what’s your game plan?

30 June is coming – what’s your game plan?

End of Financial Year Tax Planning. While Covid-19 and the uncertain business landscape it created made planning difficult, what we can say with certainty at MWM is that in our experience those who had a plan have navigated the past two years more successfully than those who didn’t.