Personal Income Tax

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,

Private Health Insurance Tax Rebate - Thresholds And What You Need To Know

If you have private health insurance, you are probably eligible for a rebate from the government. The scheme has been in place for a few years now, although the amount of the rebate varies according to your income level and age.

Finalising a Loved One's Taxes

The death of a loved one not only causes grief and mourning, but may also burden you with the responsibility to settle affairs. Don’t let this paperwork overwhelm you as you cope with your loss. A solicitor can help you administer the estate. You can contact me to ensure everything goes smoothly with regard to your loved one’s tax affairs.