Newsletter - August 2024
Welcome to the NCS Group client information newsletter, your monthly tax and super update keeping you on top of the issues, news and changes you need to know.
The importance of "Tax Residency"
Whether you are a resident or non-resident of Australia for tax purposes has significant consequences for you.
Changes to preservation age
Since 1 July 2024, the age at which individuals can access their superannuation increased to age 60.So what does this mean for those planning on accessing their superannuation upon reaching this age?
CGT & foreign residents: Complex rules apply!
A person who is not a resident of Australia fortax purposes is nevertheless liable for capitalgains tax (CGT) on certain assets located inAustralia. And these assets are assets which have a“fundamental” connection with Australia
Selling a small business operated through a company -Sell the shares or sell the assets?
If you run a small business through a company and you decide to sell it, you have the choice of either selling the business assets themselves (together with any good will) or selling your shares in the company.
Spouse contributions splitting
Splitting superannuation contributions to your spouse can be a great way to boost your combined superannuation balances which can benefit you both in retirement.
Follow the link below to find out more!