SPOTLIGHT: Understanding the Proposed Division 296 Tax – Income Tax Assessment Act 1997 (Cth) (ITAA) – on Superannuation
What is Division 296? Division 296 imposes an additional 15% tax on earnings linked to the portion of your super balance above $3 million. Download PDF Version This is in addition to existing superannuation taxes. Importantly, the tax is calculated based on the change in your total super balance, which includes unrealised gains—profits on investments […]
Worker Entitlement Funds: Ensuring Compliance and Employee Protection
Imagine this: An employee leaves your company unexpectedly, triggering a cascade of complex calculations for unpaid leave, redundancy pay, and other employee entitlements. Mistakes happen, and before you know it, you’re facing a legal dispute, hefty fines and reputational damage. That can be avoided with GTB Services. The Fair Work Ombudsman (FWO) recovered over $1 […]
SPOTLIGHT: RESEARCH & DEVELOPMENT (R&D)
What is the R&D Tax Incentive? The R&D Tax Incentive program (RDTI) is the Australian Government’s largest targeted entitlement program, aimed at assisting Australian companies in offsetting some of the costs of their R&D activities. Download PDF Version Cashflow is one of the biggest barriers for companies considering taking on Research and Development and the […]
How Does Your CSR Measure Up? Calculate Your ESG Here
Is your business truly sustainable? Do you consider the impact your operations have on the environment, your employees and the wider community? In today’s world, ESG (Environmental, Social and Governance) factors are no longer just a “nice-to-have” – they’re essential for long-term success. As your trusted financial advisors, GTB’s commitment is to remind you that […]
Beyond Wealth: How a Family Office Secures Your Legacy and Simplifies Your Life
Here’s the deal…you’ve achieved financial success, but now what? What do you do with excess wealth, and what will happen to your wealth management when the next generation takes the reins? Wealthy families are bombarded with offers of advice and services. Private bankers, lawyers, trustees, investment managers, accountants, insurers—the list goes on. It’s a jungle […]
Tax Hacks: Is Your Business Missing Out on Savings?
Do you dread tax season, feeling like a significant chunk of your hard-earned profits is slipping through your fingers? Are you confident you’re taking advantage of every opportunity to minimise your tax liabilities? Many Australian businesses unknowingly leave money on the table due to a lack of strategic tax planning. For the 2023/2024 financial year, […]
Design Your Dream Retirement with an SMSF Investment Strategy
Imagine this: You’re relaxing on a beach, sipping a cocktail and enjoying the fruits of your labour after decades of hard work. This is the dream, right? A Self-Managed Super Fund (SMSF) can be your vehicle to retirement success. But achieving a comfortable and fulfilling retirement requires careful planning and strategic decision-making, especially when it […]