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Wallace Partners March 2026 Newsletter
Access our Wallace Partners March 2026 Newsletter below: Wallace Partners 2026 March Newsletter
Possible increases to social security deeming rates in 2026
If you receive a part or full Age Pension you might see changes to how your income is assessed by Centrelink over the coming year. One of the key drivers of this is social security deeming rates, which the Government has already signalled will be rising. What are deeming rates? Deeming rates are the assumed...
Forgiveness of a debt – What are the tax consequences?
If you are owed money and you forgive that debt, potentially there are some important CGT consequences. This is because the debt owed to you is a “CGT asset” in your hands and its forgiveness gives rise to a “CGT event” – potentially resulting in a capital loss to you (as calculated by reference to...
2026 Trust Resolution Forms
Scan the code or click HERE to submit your 2026 Trust Resolution request
Six changes impacting your super in 2026
Superannuation rules are always evolving, and 2026 is shaping up to be another year of important changes. Some of these updates may only affect a small group of people, while others could impact almost everyone with super. Whether retirement feels a lifetime away or it’s already on the horizon, understanding what’s changing can help you...
CGT – Buying a new home before selling the old
If you find yourself in the position of having bought yourself a new home before you sold your existing home, there are important CGT issues to consider – and these centre on the fact that under the CGT rules, you cannot have two or more CGT exempt homes at the same time. However, there is...
Permanent incapacity and super – what it means if you’re totally and permanently disabled
Most people think of superannuation as money they can’t touch until retirement, but there are important exceptions. One significant exception is the permanent incapacity condition of release, which can allow people who are totally and permanently disabled to access their super earlier. Understanding how this works can make a real difference at a time when...
Change to the tax treatment of holiday homes
No doubt noting the growing trend for people to rent out property for short-term accommodation, the ATO has withdrawn a 40-year old ruling and replaced it with a new draft Taxation Ruling accompanied by two draft Practical Compliance Guidelines that between them cover everything relating to renting out all or part of your property without...
Wallace Partners February 2026 Newsletter
Access our Wallace Partners February 2026 Newsletter below: Wallace Partners 2026 February Newsletter
Age Pension and CGT implications of caravanning around Australia for 12 months
Many retirees dream of taking a “lap of Australia” in a caravan. A common question is what happens to the Age Pension and the family home if you leave it for a year. Will the home stay an exempt asset for Age Pension purposes? For Age Pension means testing, the principal home is generally an...