From 01/07/2008 the lower and upper income thresholds for the Government superannuation co-contributions have been increased to $30,890 and $68,980 respectively. The co-contribution amount the person may expect is 150% of their personal contributions made in the year…

For the 2009 financial year the concessional contributions cap is $50,000 per person. Contributions over the cap amount are subject to excess concessional contributions tax. Excess concessional contributions are taxed at 31.5% and excess non-concessional contributions are taxed at 46.5%.

If you have recently bought a rental property, you will most likely be targeted for an audit by the Australian Taxation office. The ATO are targeting tax payers who are claiming a high amount of borrowing expenses in their income tax returns…

If you are lodging your 2009 Income Tax Return & you have foreign income and/or foreign losses in the current year or you quarantined foreign losses within the previous 10 years, this article should interest you…

The NRAS Tax Offset is a contribution by the Commonwealth Government of $6,000 annually for up to 10 years for each new dwelling rented to low and moderate income households at 20% below market rates. Learn how you can take advantage of this annual offset.