Trusts offer several advantages for managing your wealth, which include: Protection of Assets: In certain situations, family assets can be shielded from creditors and other potential threats in the event…
Concerned about safeguarding your valuable assets from potential misuse? Establishing a trust offers security and control over your wealth, ensuring it's managed according to your wishes. With a trust, you…
When someone passes away, both ordinary losses and capital losses come to an end. Theses losses cannot be transferred to the deceased estate. However, there is a valuable strategy to consider. It is advisable to utilise these capital…
Marriage or relationship breakdown rollover cannot be applied if you and your spouse divide your property through a private or informal agreement, rather than a court order, binding financial agreement,…
According to the gifting rules, you can gift a maximum of $10,000 to a friend or relative per financial year and up to a total of $30,000 over the past…
If the income of senior Australians falls below $32,279 for singles (or $28,974 each for couples), they are exempt from paying income tax. However, if they have income from a…
From 1 July 2022, individuals may be eligible for the Low Income Tax Offset (LITO) if they earn up to $66,667. This means that if your spouse is not employed,…
The No Jab No Pay law states that you will not be eligible for the Childcare Subsidy if your children (up to 19 years of age) fail to meet the…
Starting from 7 March 2022, the childcare subsidy has been raised by 30 percent, with a maximum of 95 percent for the second and subsequent children in childcare, and there…
Income tax applies to paid parental leave, and it may also impact other government benefits including child support, health care cards, and public housing. On the other hand, the Newborn…
