Discretionary trusts are widely used for asset protection purposes and tax management. But, by transferring your assets into a discretionary trust, you will no longer own the assets. So, how exactly do discretionary trusts work? What are the advantages and...
If you’re thinking of buying that brand new Mercedes-Benz S-Class, you’ll need to also think about luxury car tax. You might change your mind when you hear just how heavily luxury cars are taxed in Australia. Either way, it’s good to know what tax consequences you’re...
Asset protection strategies are arguably as significant as purchasing the assets in the first place. Many Australian’s dream of owning multiple assets such as investment properties and companies, but unfortunately, there is a lack of education around the importance...
Did you know that as a teacher or as someone working in education, you’re entitled to various industry-specific, teacher tax deductions? These teacher tax deductions can have a significant benefit on your annual tax return, so it’s worth equipping yourself with the...
Did you know that as an Uber driver, you’re considered an independent contractor? This means that you’re entirely responsible for fulfilling your own tax obligations each year. The income you earn as an Uber driver is assessable income and must be reported in your...
The different types of trusts in Australia are widely used as a preferred business structure when it comes to investments, managing the financial affairs for families as well as business purposes. But did you know that there are a handful of different types of trusts...
