Advice
Rock and a hard place: where tax law and super regs overlap
Unfortunately, when ATO rulings are slavishly followed by professionals, the tax office’s revenue collection is placed ahead of a client’s best interest.
Max Newnham
Max Newnham has worked in public accounting for almost 40 years. He is a financial planning specialist with the Institute of Chartered Accountants and a specialist adviser with the SMSF Association of Australia. Newnham is a partner with Taxbiz Australia, writer for Fairfax Media, contributor to Eureka, and author of six books, the most recent being Funding Your Retirement – a survival guide.
Newnham has been assisting trustees of SMSFs for more than 30 years to administer their funds, implement strategies to maximise their after tax superannuation, and assist with investment portfolio construction and selection.
Advice
Dealing with clients addicted to income
Max Newnham shares his tips for advising clients whose misconceptions have them clinging to residential property, listed equities or guaranteed bank deposits.
Featured Homepage Posts
A tale of two reports: reform’s failures in black and white
Lack of practical understanding about how advice, superannuation and taxation issues work has contributed to the failings of regulation’s past, Max Newnham writes.
Featured Homepage Posts
Labor franking credit plan could add SMSF members
Banning tax refunds for franking credits could result in more SMSF members, rather than encouraging people to move into regulated funds, Max Newnham finds.
Tax
The value, and definition, of residency
It pays for advisers to think about where to establish residency for tax purposes when it comes to clients planning to live overseas for a period, Max Newnham writes.
Featured Homepage Posts
FASEA hard line could add to Coalition’s pain
With submissions for the FASEA proposals now closed, any faith the industry had that either the new authority’s board or the government of the day is listening has worn thin.
SMSF
First Home Super Saver not worth the trouble
Either salary-sacrificing or personal tax-deductible contributions could be more advantageous than using the more intricate FHSS scheme. Max Newnham writes.
Featured Homepage Posts
How to access the First Home Super Saver
The controversial provision allowing use of super to purchase property can be employed only once – and not everyone is eligible.