Investor Seminar Expenses...What Can I Claim?

Over the last five to ten years the number of property investment seminars being spruiked has continued to grow.


  Whether it’s an investment magazine, newspaper or TV ad, invitations to these types of events are everywhere.

 Therefore, it is not surprising that the Tax Office has become increasingly concerned about the rise in claims for the expenses associated with the attending these types of seminars.  These costs are not just limited to seminar fees but may include travel costs and the costs of accommodation.

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SuperStream....Are You Ready?

SuperStream is a Federal government reform aimed at improving the efficiency of the superannuation system.

Under SuperStream, employers must make super contributions on behalf of their employees by submitting data and payments electronically.

All superannuation funds, including self-managed superannuation funds (SMSFs), must receive contributions electronically under SuperStream.


Employers with 20 or more employees

From 1 July 2014, these employers should start using the SuperStream standard to send superannuation data electronically. 


However, the Tax Office is being flexible on the start date provided the employer is doing their best to implement SuperStream and have a firm plan to do so no later than 30 June 2015.

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The Mining Tax is Gone...but at What Cost?

The mining tax has been repealed after passing the Senate following a Federal government deal with the Palmer United Party (PUP) to compromise parts of the legislation.

The result will see the planned increase in the superannuation guarantee towards 12% frozen at the present 9.5% up to and including 2021. It will then increase at half a percentage point every year after that until it hits 12% on or after July 1, 2025.

Industry Super Australia estimates that the change will have a great effect on retirement savings. The umbrella organisation for industry superannuation funds said that for an average income earner, aged 25, the delay in the super guarantee will cost them around $100,000 over their working life.

To get the support of PUP, the government will maintain the following until after the next election:

  1. schoolkids bonus until December 31, 2016 – although means-tested at a threshold of $100,000;
  2. income support bonus until the same date; and
  3. low-income super contribution until June 30, 2017.


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Receiving a Tax Refund?

From 1 July  2013, individual income tax returns lodged electronically were required to provide bank account details in order for the Tax Office to process your tax

From 1 July 2014, this requirement will extend to the following tax returns:

  1. Company
  2. Trust
  3. Self managed superannuation fund

Therefore, if you are entitled to a refund and we ask for your bank details, you will know why.

if you have any questions regarding this change, please contact Ellingsen Partners