Jun 21, 2023 / News

Sowing the seeds for a happy retirement

The thought of retirement is an enticing one for many of us. Imagine throwing off the shackles of the workforce and being able to do whatever you want, whenever you want. But why wait until you are retired to do the things you love? Read more

Financial Planning / Retirement Planning

Jun 21, 2023 / News

Who needs a testamentary trust?

The rising cost of living is grabbing all the attention right now as people struggle to pay the increasing prices. But in the meantime, our collective wealth has been growing steadily and is being transferred to the next generation at increasing rates. In fact, the value of inheritances as well as gifts to family and friends has doubled over the past two decades. Read more

Financial Planning / Testamentary Trust

Jun 21, 2023 / News

Setting yourself up for success in the new financial year

The start of a new financial year is the perfect time to get your financial affairs in order. Whether it's tidying up your paperwork, assessing your portfolio or dealing with outstanding issues, there are plenty of practical actions you can take. Here are some strategies for starting the new financial year on the right foot. Read more

End of Financial Year / Financial Planning

Jun 08, 2023 / News

Save Time with our Tax Return Checklists - 2023

Nexia Edwards Marshall has prepared a tax return checklist to assist Individuals with the compilation of information for the preparation of their income tax return. Read more

Tax Return / Taxation

Jun 07, 2023 / News

When is a worker an employee?

Although not part of the Budget, it is worth noting a recent case on the extended definition of “employee” in the super guarantee legislation. Read more

Superannuation Newsletter Edition 17

Jun 07, 2023 / News

The continuing saga of non-arm’s length expenses in super funds

The Budget included a disappointing announcement in relation to the long-running debate over the treatment of non-arm’s length expenses in super funds. Read more

Superannuation Newsletter Edition 17

Jun 07, 2023 / News

Superannuation to be paid at the same time as salary and wages from 1 July 2026

Currently, compulsory superannuation contributions must be paid by employers by the 28th day after the end of the quarter in which an employee is paid salary or wages. In a statement released on 2 May, the Federal Treasurer Dr Jim Chalmers announced that from 1 July 2026, compulsory superannuation contributions will have to be paid at the same time as the related salary and wages. The delay to 1 July 2026 is to allow employers, superannuation funds, payroll providers and other parts of the superannuation system with sufficient time to prepare for the change. Read more

Jun 07, 2023 / News

Additional tax on super balances over $3 million

The Budget confirms the Federal Government’s intention to introduce an additional 15% tax on a proportion of the super “earnings” of a member where the member’s total super balance is greater than $3m at the end of a financial year. Read more

Superannuation / Superannuation Newsletter Edition 17

Jun 07, 2023 / News

Federal Budget Announcements 2023

The Federal Treasurer, Dr Jim Chalmers, brought down the 2023-24 Federal Budget on 9 May. In this issue we look at three announcements which directly affect our superannuation clients. Read more

Federal Budget / Superannuation

Jun 05, 2023 / News

Last chance for wine businesses to claim temporary full expensing - and what’s next?

Temporary full expensing (“TFE”) ceases to apply on 30 June 2023. The incentives, which were introduced as an economic stimulus during the COVID-19 pandemic, provided for the immediate tax deduction of eligible assets for businesses with an aggregated turnover of less than $5 billion. Read more

Business Consulting / Temporary Full Expensing / Wine and Viticulture

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