Posted by G. Dean McKinnon
on 17 March 2022
It usually take some time for the law to catch up with general practices in society. This has been true for digital signing of documents as with anything else but on 10 February, 2022 the Corporations Amendment (Meetings and Document) Act 2021 was passed by Parliament.
This legislation allows directors to sign company documents digitally rather than using "wet" signatures (i.e., using a pen to sign on a paper document).
This will save a considerable amount of time to complet...
Posted by G. Dean McKinnon
on 16 March 2022
Cryptocurrency, and dealing in cryptocurrency (i.e., buying and selling), as become very popular with many investors over the last several years. However, a considerable number of those investors are unaware that there may be tax payable on the profits generated from their cryptocurrency dealings.
The ATO considers any profit made from dealing in cryptocurrency, whether you are a sophisticated investor or just an ordinary citizen trying to make a buck, the profits are subject to tax. &...
Posted by G. Dean McKinnon
on 15 March 2022
At the beginning of the pandemic, many of us were unsure if we were going to need the early release super amounts that were being offered by the government, but after the dust settled it became apparent for a large number of 'early-releasers' that the money would not be needed and now find themselves in a position of trying to get the money back into super. However, super contribution rules are complex and need to be considered before transferring the early release amounts back ...
Posted by G. Dean McKinnon
on 14 March 2022
The ATO will issue a Pay-As-You-Go (PAYG) instalment notice to a taxpayer based on the tax paid in the previous Financial Year but you are able to vary the PAYG instalment, depending on your circumstances.
The PAYG instalment issue usually rises when tax is payable on non-employment income such as back interest, share dividends, self-employment income, et cetera. The ATO assumes the taxpayer will be earning the same level of income in the following Financial Year and so they issue the ...
Posted by G. Dean McKinnon
on 11 March 2022
Many home loan lenders are now actively seeking new business and they are willing to pay for it.
Some lenders will offer up to $4000 cashback paid to the borrower if they switch their home loan. The borrower can use this money for whatever purpose they deem fit.
The new home loan lender may also have low upfront costs as well (some don't even have an Application Fee), so the whole process may be very quick and easy and cost-effective. But make sure you check the home loan details ...