by Quinns_News | Aug 29, 2017 | Blog
From 1 September 2017, the Conveyancing (Sale of Land) Regulation 2017 will come into effect. The Regulation introduces new disclosure requirements for sale of land Contracts. New Additions Breakdown The Regulation requires the following additional documents to be...
by Quinns_News | Aug 29, 2017 | Blog
Long service leave (LSL) is paid leave available to an employee who has worked continuously for the same employer over a long period (between 7 and 15 years depending on the LSL legislation applying where the employee works. LSL accrues based on the employee’s...
by Quinns_News | Aug 23, 2017 | Blog
It is well documented that saving for your first property is challenging. From 1 July 2018, the First Home Savers Scheme will enable first-home buyers to save for a deposit inside their superannuation account, attracting the tax incentives and some of the earnings...
by Quinns_News | Aug 23, 2017 | Blog
The ATO has been active in data collection and data matching activities targeting areas of high non-compliance and high-risk revenue areas using industry comparisons or analysis of data on tax returns. If taxpayers are found to have understated their assessable income...
by Quinns_News | Aug 23, 2017 | Blog
An executor is an individual named in a Will to carry out the wishes of a person after they pass. It is important to choose the right executor as they are required to perform many important tasks, either themselves or by engaging professionals with the relevant...
by Quinns_News | Aug 16, 2017 | Blog
For retirees and pre-retirees, the government recently announced changes to superannuation allowing you to downsize your home and contribute part of the proceeds from the sale into your superannuation fund. This strategy may be attractive for people who are in...
by Quinns_News | Aug 16, 2017 | Blog
Payroll tax is applied to a business’s New South Wales (NSW) taxable wages that exceed the payroll tax threshold. The payroll tax threshold for 2018 financial year is $750,000. An employer is required to pay 5.45% payroll tax on taxable wages above this threshold. The...
by Quinns_News | Aug 9, 2017 | Blog
Accessing Superannuation To access your superannuation, prior to retirement, under the ATO’s financial hardship provisions you must satisfy the following conditions; 1. you cannot meet your day to day family living expenses, and 2. you have been receiving government...
by Quinns_News | Aug 9, 2017 | Blog
Stamp Duty Surcharge The 2016 NSW Budget introduced a surcharge purchaser duty (stamp duty) on the purchase of residential real estate by foreign persons from 21 June 2016. The surcharge is in addition to the stamp duty payable on the purchase of residential property....
by Quinns_News | Aug 9, 2017 | Blog
Using Testamentary Trusts Estate planning allows testators to exercise a higher level of control over the distribution and management of their wealth to beneficiaries. Testamentary trusts are an effective estate planning tool because of their ability to protect assets...
