With 30 June 2016 just a few weeks away there are 3 SUPER things you need to consider before then: 1.   Make concessional contributions to receive a maximum tax deduction; 2.   Pay the minimum pension. This ensures your fund’s income is tax free; 3.   Check your NCC cap before making further non concessional [...]
by Raul Valois, Partner Introduced almost 19 years ago, Division 7A and its various exemptions apply to all private companies, their shareholders and shareholder associates across the country. While I consider this matter an Accounting & Tax 101 function, I regularly see it applied incorrectly which is concerning when you consider the significant tax penalties [...]