Russian Government Proposes Ban on The Mining and Use of Cryptocurrencies
The central bank of Russia is proposing the ban the countries citizens from using and mining cryptocurrency on Russian territory. This is due to the banks fears that it is a threat to the financial stability, citizens wellbeing and its monetary policy sovereignty. The announcement means that Russia is the latest country to discuss their […]
RBA Reveals That Cash Hoarders Hoarded Record Amounts During Pandemic
Over the past decade sightings of $50 and $100 notes have continued to become a rare method of payment. During the covid-19 pandemic, online sales boomed as shops closed. Those that remained open preferred the more hygienic tap-and-go method with bank cards or phone. All of these findings might mean that it is a huge surprise […]
How Can Money Contribute Towards The Breakdown Of A Marriage?
It could be easily argued that the greatest threat to wealth creation is not tax, but divorce. This is a belief that can be in many cases true when discovering the huge fees that are associated with assessing family property settlements as a result of the breakdown of a marriage. Money in many cases can […]
Victorian Government Announces $1,500 Payment For Renters
The Victorian State Government has announced a new one-off payment worth $1,500 for renters who having difficulties due to the ongoing covid-19 enforced lockdown. The $1,500 payment will be awarded to renters via their landlords, if they can prove that they have suffered a loss of income as a result of the covid-19 pandemic. “We’re… […]
C&D Adapting to rapidly changing landscape
Over the next few weeks, there will be a new colour and a change of logo to the C&D presence as we continue to adapt to the changing economic landscape. The last six months have been challenging for most businesses and we have been in the same boat. Whilst missing our Yeronga home, the opportunity […]
Property Co-Ownership
Stratospheric property prices are a fact of life in Sydney and many other places in NSW. Young Australians and others just entering the property market can be forgiven for feeling daunted by the cost of a first home or the initial outlay required to get started in property investment. There may be a workaround, though. […]
Div 7A Refresher
What is Division 7A? Division 7A is part of the Income Tax Assessment Act 1936 and is essentially in place to prevent profits or assets of a company being given tax-free to shareholders or their associates. This can occur where distributions of profit are disguised as loans or other transactions effectively allowing the shareholder or […]
Holiday house
Just when many Australians are considering getting away for a mid-winter break, the ATO is reminding taxpayers that it is paying close attention to rental properties located in popular holiday destinations around Australia. The ATO recently issued a statement saying that last year it identified a large number of mistakes with deductions for rental properties, […]
Estate planning in super
Your superannuation trust deed along with the superannuation laws form the governing rules that self managed super funds (SMSFs) needs to operate by. The introduction of the $1.6 million transfer balance cap (TBC) and new transition to retirement income stream (TRIS) rules are a ‘game changer’ for SMSFs when discussing benefit payments and estate planning. […]
Decisions in Binding Death Nominations
A recent decision has clarified three issues regarding the validity of binding death benefit nominations. I have relied on the following summary from Townsend Law’s Michael Hallinan for interpretation of the decision. A recent decision of the South Australian Court of Appeal (Cantor Management Services Pty Ltd v Booth [2017]) has passed important comment on no less […]