What is your “total superannuation balance” and why does it matter?

Dianne KennedyBlog, Strategic Planning, Tax

Superannuation

Recent superannuation reforms introduced a concept of “total superannuation balance”, which on the surface may give the simple impression that it is the sum of the balances of a person’s superannuation interests. However, this is not the case. What is the total balance relevant for? The total superannuation balance is relevant in determining a super fund member’s eligibility for: making … Read More

Best Tips for the Small Business Pool Write Off

Dianne KennedyAccounting and Tax, Blog, Strategic Planning

The temporary $20,000 immediate write-off for “small business entities” attracts regular queries, even though it has been many months since the initiative was first announced with the Federal Budget early this year. While most inquiries relate to claiming the immediate deduction, there has also been confusion about the rules in claiming general small business pool balances that are below $20,000 … Read More