Personal Income Tax

Understanding Fringe Benefits

For some people the subject of Fringe Benefits Tax is best left to financial advisers or tax specialists, but the more you know about the system the more you can make it work for you. You don't have to become an expert - you can leave that to the professionals who have the time and motivation to get into the minutia. Having a better understanding of Fringe Benefits Tax, though, will help you when dealing with your employer, your financial adviser, or your accountant. You will be able to ask the right questions, while making sure the right arrangements are in place to meet your financial objectives.

Pay Less Tax And Get More Money Into Your Super - Tip

This is a sweeping generalisation but it will apply to most people - you don't like paying tax (more than you absolutely have to, at least), but you do like boosting your super because you know you will get the benefit from that money in the future. So, here is a way that you can pay less tax every month, and increase the amount of money that is paid into your super.

What Are Ordinary Time Earnings And How Do They Affect My Super?

Your employer has to make a contribution to your superannuation fund. This is called a superannuation guarantee, and the amount is based on your earnings. It sounds straightforward but as an employee you will know that a lot of things make up the money that you receive from your employer - your salary, bonuses, overtime, any allowances you are paid, leave payments, etc. So, how is the superannuation guarantee worked out? This is done on ordinary time earnings.

Getting CGT Exemption On Two Homes - Temporarily

Capital Gains Tax (CGT) is the tax that you pay on profits from an investment. Many people encounter the CGT rules in relation to property, but it doesn't apply to your main residence. In other words, you can make as much money as you like on the sale of your main residence, and you will pay no tax on that profit. In general, you are only allowed one main residence - that makes sense,

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