The Canadian Economy The Canadian economy has entered recession, official figures have shown. Gross domestic product (GDP) fell by an annualised rate of 0.5% between April and June. That follows a contraction of 0.8% in the first quarter, meaning the economy has seen two consecutive quarters of negative growth, the usual definition of recession. The […]
Rise in the preservation age
Rise in the preservation age Before an SMSF starts paying a transition to retirement income stream (TRIS) to a member, the member must have reached their preservation age. From 1 July 2015, the legislated rise in the preservation age, which is now based on date of birth, comes into effect. It applies to anyone born […]
Has unemployment peaked in Australia? No, says ANZ
Unemployment could remain around 6 per cent for some time, according to ANZ, with the economy’s growth rate not strong enough to bring it down . Unemployment came in at 6 per cent in June, up from May’s 5.9 per cent figure but down slightly from results in earlier months. Below-average output growth suggests that a […]
Personal Tax Tips
June 2015 ATO Lodgement Dates
June 2015 ATO Lodgement Dates June 2015 ATO Lodgement Dates:- Date Obligation 5 June Tax return lodgment, including companies and super funds where the tax return is not required earlier and both of the following criteria are met: non-taxable or a credit assessment as at latest year lodged non–taxable or receiving a credit assessment in the […]
2015 Tax Rates
2015 Tax Rates Anyone who earns an income needs to pay tax, so it’s important to know exactly how much tax you can expect to pay. The Australian Tax Office produce a range of tax tables to help you work out how much to withhold from payments you make to your employees or other payees. * […]
