Entries by Jake Solomon

Home Builders Grants – what’s still available?

2020 saw Australian Federal and State Governments implement an array of incentives to keep Australians in jobs, businesses afloat, and stimulate the economy.  Among these were a number of home builders grants to incentivize home-buyers to purchase new builds or make substantial renovations to existing properties, all the while bettering the economy and the building […]

Main residence exemption changes for foreign residents

Background The main residence exemption allows capital gains to be tax free for Australian taxpayers when they sell property that was their place of residence, subject to certain criteria. The exemption applies to property that was never available for rent, and also for a further six years once it has been available for rent (the […]

What happens if I make excess contributions to super?

We hear everywhere that it’s a great idea to put as much as we can afford into our superannuation funds to set ourselves up for retirement. This money is invested by the fund with the underlying idea that it will result in significant returns that will support us upon reaching retirement until death. Concessional vs […]

Buying Bitcoin – Will I pay tax?

The Bitcoin frenzy in late 2017 was quickly followed by a crash over the next year that saw it drop from above AUD$25,000 to less than $4,500. Although we have no view on cryptocurrency performance, recent predictions from crypto analysts suggest the upward trend this year may be set to continue, with Bitcoin prices reaching […]

Franking credits – what are they?

If you have ever invested in the stock market, it is likely you have come across franking credits. Whether it be an amount on a dividend statement you notice doesn’t hit your bank account, or a refundable tax offset you see on your tax return. What does it actually mean and how does it affect […]

Working holiday makers

People who come to Australia on a “working holiday” are taxed at higher rates than Australian residents, meaning they do not get the same benefit of the tax-free threshold. However, from 1 January 2017, working holiday makers will pay tax at 15% for taxable income up to $37,000, instead of the higher non-resident tax rates. […]