September 2022 Newsletter

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:

  • Tax consequences of land subdivision: Whether you are in business or not, there may well be both GST and CGT issues that arise when subdivided land is sold off. This will depend on a range of factors.
  • Hiring employees: With the unemployment rate at historic lows, workers are in demand and are also switching jobs at record rates. There are a range of issues employers should be aware of when hiring. These include minimum worker entitlements, employment contracts, and rates of pay.
  • Super funds post lowest returns since GFC: The poor performance of super funds in 2021-22 may prompt account holders to contemplate taking action. This may involve changing funds, commencing an SMSF, or withdrawing your savings from the sector altogether (if eligible). Alternatively, you could sit tight and ride the wave.
  • e-Invoicing – save time and money: The ATO is anticipating a significant uptake in eInvoicing over the coming 12 months. This new form of invoicing makes transactions faster, simpler and more secure for your business.
  • Estate planning explained: Estate planning is the process of arranging your affairs now to ensure there is an efficient and effective distribution of your estate after your death. Essentially, there are four steps involved in this important process.
  • Insurance: inside or outside super? While most individuals are careful to insure their personal assets, insuring your wealth and income – via life insurance, TPD insurance, and income protection – is arguably equally important. This can be done either inside or outside superannuation.

Click here to read the Rose Partners September 2022 Newsletter.

If you would like to discuss anything raised in the newsletter, please contact our Team.

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