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Showing 11 - 20 of 24 results for "Income Tax Assessment Act"

The case for tax deductible advice

JAMIE WILLIAMSON | MONDAY, 3 JUN 2019

... treated as such and upfront advice fees should receive tax-deductible status. At present, under the Income Tax Assessment Act 1997, fees for drawing up financial plans - such as initial advice fees - are not deductible for income tax purposes as the ...

SMSF members want overseas restrictions lifted

DARREN SNYDER | TUESDAY, 16 JAN 2018

... to lift these restrictions. Currently the definition of an Australian superannuation fund under the Income Tax Assessment Act means SMSF members who continue contributing to their fund while overseas face penalties as well as having it taxed as a non-complying ...

FPA pushes tax deductible incentives

KARREN VERGARA | TUESDAY, 28 MAR 2017

... the preparation of an initial financial plan are not tax deductible, according to section 8.1 of the Income Tax Assessment Act 1997, which "acts as a disincentive for people to take the first step towards organising their finances on a strategic basis" ...

American IRAs not super funds

DARREN SNYDER | MONDAY, 20 JUL 2015

... means any payment from an IRA will have no special tax treatment in Australia under Division 305 of the Income Tax Assessment Act 1997. Hallinan said if an IRA payment was made to an Australian superannuation fund by the member it will be treated as ...

Treasury proposes tax relief for merging super funds

JAMES FERNYHOUGH | FRIDAY, 26 SEP 2014

... over to another fund as part of a merger between funds." The paper proposes a number of changes to the Income Tax Assessment Act 1997, including a definition of an 'involuntary roll-over superannuation benefit'. The proposed changes would apply form ...

Coalition pledges support for super laws amendments bill

JAMES FERNYHOUGH | FRIDAY, 21 JUN 2013

... hold a default account into the MySuper account of another super fund. The proposed amendments to the Income Tax Assessment Act 1997 will allow such super funds to transfer losses and deferred tax liabilities for the assets transferred. "This means default ...

Trust tax reform can be split

MELANIE TIMBRELL | TUESDAY, 31 JUL 2012

... "The Government has decided to develop the new tax system for MITs alongside the reforms to Division 6 [Income Tax Assessment Act 1936]," Bradbury said. "It makes sense to progress these reforms together to provide more certainty for managed investment ...

TPD insurance review closes

ALEX DUNNIN | TUESDAY, 5 JUL 2011

... that the policy conditions are consistent with disability superannuation benefits, as defined in the Income Tax Assessment Act 1997. In an attempt to simplify this process, the government has proposed that rather than needing an actuarial certificate ...

Dinosaur fund taxes should be scrapped: Bowen

RUTH LIEW | MONDAY, 25 FEB 2008

... board will examine whether there is a continuing need for the tax integrity rules in Division 6B of the Income Tax Assessment Act 1936, in light of the operation of the capital gains tax regime, dividend imputation and Division 6C. The costs and benefits ...

Income Tax Law to be cut by nearly 30 per cent

Treasurer Peter Costello has announced Government plans to cut the volume of Tax Law by nearly 30 per cent. The announcement is in response to the work of the advisory Board of Taxation in reviewing the tax legislation with a view to cutting it back. ...

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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