Access our Wallace Partners October 2026 Newsletter below: Wallace Partners 2026 October Newsletter

If you have spare cash you may be wondering how best to use it. Those with a mortgage often prefer to use surplus cash to pay down their mortgage. With rising interest rates and greater economic uncertainty this can be a wise choice. However, can contributing spare cash to super give you a better outcome?...

Plenty of people run a business from home. If you do, there are important tax consequences attached to using part of your home as a place of “business”. And for these tax consequences (both good and bad) to arise the Tax Office (and Courts) have taken the view that the part of your home used...

Around 11,000 Australians invested about $1.1 billion of their retirement savings in the Shield and First Guardian Master Funds. These two managed investment schemes collapsed, costing investors their savings. Some investors have been compensated by their platform provider. However, many have not. The Government recently set out several changes to super to help protect members’...

It has been proposed that people who pay rent or have a mortgage be allowed to divert a quarter of their future super contributions into take-home pay for up to three years. Employers would keep paying the full 12%, but the super fund would pay 3% directly to members who opt in. Reaction to the...

If you worked overseas before settling here, you may still have money in a foreign retirement scheme. If the ATO recognises the scheme as a ‘foreign super fund’ you may be able to transfer it into an Australian super fund. Keep in mind the timing affects how much tax you pay. Transfer within six months...

A recent Federal Court decision once again outlined the importance of determining a person’s residency status for tax purposes – and moreover how difficult that may be. And that it may not just be a matter of having lived overseas for several years. In that case, the taxpayer lived in Australia for 6 years with...

Under the big tax changes announced in the May Budget, and now law, the generous 50% CGT discount will no longer apply from 1 July 2027 and will be replaced by the inflation-based “indexation” (except in limited circumstances). However, it will still be available for the capital gain on an asset that accrues up to...

After the September 11 attacks on the World Trade Center in New York in 2001, it was understood that intelligence and security authorities around the world dramatically increased their technological and detection capabilities. And, apparently, not long after, many revenue authorities around the world were said to similarly have sought better technological and detection capabilities....

From 1 July 2027, companies will need to give ASIC a director ID for each director. This will happen through annual reviews and whenever director details change (ASIC Form 484 for example). The good news is there’s nothing to do yet. But it’s a great time to check your company and director details are up...