Smith Feutrill Insights
Financial news, expert tips, insights, and our latest updates.
Tax on super death benefits for dependants vs non-dependants
A super death benefit is the super paid after a person's death, usually to a nominated beneficiary. These benefits are subject to different tax treatments, depending on...
Debt financing vs equity financing
Gathering funding is a challenge that almost all business owners face at some point. Financing can come in two forms – debt financing and equity financing. Debt financing...
Are you eligible for the small business income tax offset?
The small business income tax offset can be used to reduce the tax you pay by up to $1,000 a year. Also known as the unincorporated small business tax discount, the...
How to keep employees safe as they return to the workplace
Enforcing health precautions is an essential step to creating a safe workplace and giving your employees peace of mind, especially during the current pandemic. Businesses...
Do you need to lodge a transfer balance account report?
Self-managed super funds (SMSF) may be required to lodge a transfer balance account (TBA) report by 28 July 2020 in the case of a TBA event. A TBA report will need to be...
COVID-19 factors to remember when filing your tax return
The end of the financial year has rolled around again, but this time, COVID-19 may affect the way you fill out your tax return. The ATO has released a range of methods to...
What is petroleum resource rent tax?
Companies that are interested in a petroleum project may have lodgement, reporting and payment obligations under the petroleum resource rent tax (PRRT). According to the...
Cars and taxes for 2020-21 financial year
New car threshold amounts will be implemented from 1 July 2020. Understanding the new thresholds and how they may affect your small business operations and vehicle usage...
Carrying on a business in an SMSF
Self-managed super funds can carry on a business providing the business is allowed under the trust deed and operated for the sole purpose of providing retirement benefits...