Directors’ now liable for GST

Directors’ now liable for GST

Legislation relating to GST Director Penalty Notices was passed on 5 February 2020 and now awaits Royal Assent. The legislation changes are not retrospective and only apply for unpaid GST incurred from the beginning of the 4th quarter of this income year (i.e. from 1 April 2020). What was the situation prior to the law […]

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Renovating a property inside a SMSF

Renovating a property inside a SMSF

When can I renovate a property owned by my SMSF? How can I fund renovations of a property owned by my SMSF? Borrowing for repairs vs renovations/ improvements Self-Managed Superannuation Fund’s are allowed to borrow money to repair acquirable assets but are prohibited from borrowing money to improve acquirable assets. Hence, it is vital that […]

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Help for First Home Buyers!

Help for First Home Buyers!

The Government have now passed legislation to implement the First Home Loan Deposit Scheme. The scheme is designed to help first home buyers by providing a guarantee that will allow certain first home buyers to purchase a home with a deposit as little as 5%. The scheme is limited to the first 10,000 first home […]

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