Welcome to this month’s issue of our newsletter. Our aim is to keep you informed about current tax and superannuation related matters.
This month we look at:
- Compensation – is it taxable? Have you received compensation for bad advice or unethical behaviour, particularly from the banking and financial advice sector? There may be tax consequences. We explain how to navigate these payments from a tax perspective.
- Tax issues when dealing with volunteers: Volunteers can be an invaluable resource to many clubs, groups and charities. But what of payments made to these volunteers? We look at whether payments to volunteers constitute assessable income and whether their expenses are tax deductible.
- Collectibles and inherited jewellery: Whether you’re a genuine collector or just a hoarder, those trinkets may come with a capital gains tax kicker. We look at the rules to be aware of when selling certain of these types of assets.
- Using super to pay the mortgage: You may be able to use your super to pay down your mortgage, but there are tricks and traps. We look at this highly topical issue.
- Returning to work after retirement: Retirement just not cutting it? We look at the superannuation consequences of returning to work after retirement.
Click here to read the Rose Partners February 2024 Newsletter.
If you would like to discuss anything raised in the newsletter, please contact our Team
