by Affinity | Mar 25, 2014 | Business eNews
Introduction 1. A testamentary trust is simply a trust established pursuant to a will. Most testamentary trusts are similar to ‘normal’ discretionary trusts established during the life time of a person, complete with classes of potential beneficiaries,...
by Affinity | Mar 25, 2014 | Business eNews
A deductible gift recipient (DGR) is an organisation that is entitled to receive income tax deductible gifts (donations). DGRs are either: Endorsed by the ATO; or Listed by name in the tax law. There are two types of DGR endorsement: An organisation is...
by Affinity | Feb 26, 2014 | Business eNews
Two recent court cases dealing with Self-Managed Superannuations Funds (SMSFs) have highlighted the impotance of making, and recognising, Binding Death Benefit Nominations (BDBNs). A member of a Superannuation Fund may generally make a ‘BDBN’ which,...
by Affinity | Feb 26, 2014 | Business eNews
You should be wary of SMS and emails claiming to be from the ATO. We have developed some simple tips to avoid identity fraud. Tip 1: How to recognise scam SMS and emails Hoax SMS and emails can look very convincing. To protect yourself from scams and fraud,...
by Affinity | Feb 26, 2014 | Business eNews
On 6 November 2013, the government announced that it would proceed with the 2013–14 Budget measure Tax compliance: improving compliance through third party reporting and data matching. The measure will establish new, and strengthen existing, reporting systems...
by Affinity | Feb 26, 2014 | Business eNews
There is still a lot of uncertainty in business circles all around Australia, as to what is going to happen during 2014. Unfortunately, we will probably not know the key political decisions of the Abbott government, until the Federal Budget is delivered in May 2014. ...
