tax

Super savings could be available in an emergency

Severe financial hardship, terminal illness, specified compassionate reasons, permanent incapacity and other limited circumstances can serve as grounds for withdrawing pre-retirement or preserved super.  Strict rules do apply to accessing these funds. Overseen by the Department of Human Services, the “early release of superannuation” scheme allows super to be withdrawn in one or more of

[ Read More ]

GST credits 101

Generally, a business charges its customers, and then pays the ATO, goods and services tax (GST) for taxable sales of goods and services made in the course of business. This is set at 10% of the price of an item. However to isolate the amount of GST from the “displayed” price it is necessary to

[ Read More ]