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Land Tax deadline looming for trusts
Changes to Land Tax rules that came into effect on 1st July 2020 included provisions for discretionary trusts to nominate one beneficiary as the 'owner' of the property in order to avoid higher rates of Land Tax. The deadline for making those nominations is 30th June 2021. If you hold property in a trust that is subject to Land Tax, and haven't given consideration to how this will affect you, it's important that you review your situation and act before 30th June.
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Super contributions caps set to rise next year
There's good news on the horizon for superannuation investors looking to maximise their balances, with contributions caps set to rise for the first time in years on 1st July 2021. The increases have come about because of indexation provisions contained within the governing legislation.
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SA State Budget delivers more business relief
The South Australian State Treasurer Rob Lucas has delivered a State Budget that is "drowning in red ink", in an effort to sustain and stimulate the State economy during the ongoing global pandemic, and help it recover from the major bushfire events of earlier this year. There's a lot in this Budget in terms of healthcare and infrastructure investment, as well as COVID-19 relief measures. But what's in there specifically for Small-Medium enterprises (SMEs)? Here's a few highlights.
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