Levi Holdsworth takes immense pride in his role at Pitcher Partners, where he is dedicated to serving the middle market with a personal touch. With 15 years of industry experience, he specializes in high-net-worth individuals, family offices, small to medium-sized businesses, property development, construction, hospitality, and entrepreneurial start-ups. Bringing a unique perspective as the son […]
Key points If an SMSF member loses mental capacity, the fund risks becoming non-compliant unless swift action is taken to remove them as trustee or director. Establishing an Enduring Power of Attorney (EPOA) for each SMSF member ensures continuity by allowing a trusted person to act on their behalf. Appointing a corporate trustee instead of […]
With the exception of Tasmania, all Australian States and Territories have now delivered their Budgets for 2024-25. The first half of the 2024 calendar year has been a busy one in the world of State and Territory taxes, partly due to many measures associated with their budgets for 2024-25. The Budgets contain announcements regarding changes […]
On 21 March 2024, draft legislation was released to implement the new Pillar 2 (or ‘GloBE’) rules (the Rules). The draft legislation will introduce a new tax regime and new compliance for multinational (MNE) groups that have an Australian presence and consolidated global revenue of Euro 750 million annually. The intention is to ensure that […]
As the financial year draws to a close, it is time to start thinking about whether your year-end tax planning is in order. Tax planning requires consideration of income and deductions for the year as well as whether compliance requirements have been met (e.g. appropriate elections have been made on a timely basis and other […]
Both the ATO and the Courts have confirmed that it is critically important that trustees properly consider which beneficiaries should receive distributions and how those distribution entitlements are satisfied. These developments highlight that trustees cannot be passive in their trust distribution decisions. It is therefore important that trustees take these developments into account when exercising […]
It’s almost the end of the financial year. And we all know what that means – it’s time to start getting your year-end tax planning in order. Our expert Greg Nielsen from Pitcher Partners Melbourne will help you cover all your income tax bases in our latest year-end tax planning webinar. In this webinar, he […]
Super contribution limits Due to indexation arrangements, superannuation contribution limits are set to increase from 1 July 2024. Please refer to the information below for further details. Concessional and non-concessional contribution limits The concessional contribution limit will increase from $27,500 to $30,000 from 1 July 2024. As the non-concessional contribution limit is set at four […]
If you own a vacant residential property in Victoria, you could have a Vacant Residential Land Tax (VRLT) liability in respect of that property from next year onwards. The VRLT is an annual tax imposed on residential property which is deemed to be ‘vacant’. The tax applies in addition to standard land tax and is […]
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