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Backpackers are already tax avoiders

There are concerns about the “backpackers tax”. This was a change announced in the 2015/16 Budget that would deem people working in Australia on holiday visas to be non residents for tax. As a result they would be taxed at 32.5% from the first dollar they earned, rather than being able to apply the tax […]

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I would hate to be a super specialist…

There are a number of changes that are going to make advising high wealth/income clients to use super very hard. Lets start with transition to retirement pensions. People have been recommending staring these TTR pensions as soon as you turn 55 but make sure you salary package the amount back to your super fund. You […]

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The shortest Budget summary ever…

Lets be brief (so I will ignore what will be covered in future Budgets)… The second highest bracket of the marginal tax rate goes from $80,000 to $87,000 on 1 July 2016. So people earning more than $80,000 pay less tax. The company tax rate for companies with turnover of less than $10 million goes […]