News & Resources

Summer 2011 Newsletter

View the Summer 2010 Newsletter
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Self Education Expenses – Youth Allowance

Some joy for the little guy/generation Ys out there to allow self education costs to be claimed against youth allowance received.

It’s a case similar to the movie “The Castle” where the little guy/lady takes up the challenge and fights his/her case on their own against the resources of a larger institution, and in this case, against the Australian Taxation Office (“ATO”). (more…)

Collectibles inside Self Managed Superannuation Funds

For some time now, there has been debate about the merits of self managed superannuation fund (“SMSF”) holding collectibles and personal use assets as part of their investable assets. Whether it is artwork, stamps, rare coins, antiques, jewellery, and even rare wine or classic cars, such collectables and personal use assets have been and/or are held by some SMSF. (more…)

Winter 2010 Newsletter

Read the Winter 2010 edition of the Summerhill Financial newsletter

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Trusts – ATO Attempting to Reduce Their Effectiveness

Trusts, and more specifically family or discretionary trusts are a key strategy for many Australian taxpayers wanting to legitimately minimize their tax positions, and also to protect their wealth against attack. However, they are under the microscope again of the Tax Office again as they try to reduce their effectiveness.

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New Tax Year – New Tax Rates

With the new tax year commencing on 1 July 2010, new income tax rate scales will apply, slightly reducing the income tax rates for the 2011 tax year.  The scales are outlined below:

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Summer 2009 Newslettter

Read the Summer 2009 edition of the Summerhill Financial newsletter
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Reminder – Deadline on Investment Allowance for Businesses

Just a reminder of the impending deadline for those that are running businesses and want an incentive to go purchase some new depreciable assets for the business (whether that be a new laptop or new vehicle for the business). (more…)

Deductible Education Costs – Youth Allowance

A recent full Federal Court decision has confirmed the opportunity for students to claim their costs of study as a tax deduction, where those students receive the youth allowance.

The case involved a student that was in full time university studies.  The student had a part time job to help support herself through her studies as well as received a youth allowance from the Federal Government. (more…)

Spring 2009 Newsletter

Read the Spring 2009 edition of the Summerhill Newsletter
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