Superannuation is often seen as untouchable savings for retirement, but did you know it can also be a lifeline during financial difficulty? While super is designed for retirement, there are rules to allow it to provide financial support in several situations. Let’s explore these rules and how super might offer relief in times of crisis....

The unofficial federal election campaign is now well under way, with Opposition Leader Peter Dutton announcing a couple of tax policies while out on the hustings in Queensland on 19 January. We’re drawing these developments to your attention in order to keep you informed about what the tax landscape might look like post-election after announcements...

Feeding its seemingly insatiable appetite for rental data, the ATO has recently announced it will soon be collecting rental bond details for some 2.2 million individuals. The data, which will be collected twice a year from State and Territory bond regulators, is very comprehensive, and will include personal details such as names, addresses, dates of...

Superannuation rules are always changing, and 2025 is set to bring some updates that could affect your retirement savings. Whether you’re just starting to build your super or already planning for retirement, keeping up with these changes can help you make informed decisions. Here’s what’s on the horizon. Possible tax changes for large superannuation balances...

Access our Wallace Partners Client Newsletter below: Wallace Partners Newsletter February 2025

Australian voters tend to reject US style education favouring more egalitarian systems where income does not determine access. In the US, average student debt is USD $37,693 (public and private debt) taking an average of 20 years for individuals to repay. But, students often have a gap not fulfilled by loans. For Australian domestic students,...

The Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer. Like us, you are probably curious how a foreign national living in the Philippines, who had an ‘independent contractors’ agreement with an Australian company, could be classified as an Australian employee by the Fair...

The cost of living has eased over the past year but consumers are still under pressure. For business, planning is the key to managing Christmas volatility. The countdown to Christmas is on and we’re in the midst of a headlong rush to maximise any remaining opportunities before the Christmas lull. Busy period or not, Christmas...

Access our Wallace Partners Client Newsletter below: Wallace Partners Nov Dec 2024 Newsletter  

Ok, not that Succession series. We want you bring you a new perspective on transferring property. Be it estate planning, managing an inheritance, or the various forms of business succession. This month, we look at the tax consequences of inheriting property. Beyond the difficult task of dividing up your assets and determining who should get...