February Newsletter Published 14.2.2024

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Our February Issue Covered

Compensation from your bank or financial institution – is it taxable?

Unfortunately our financial institutions have not always acted as ethically as we consumers would like.

  • Tax issues when dealing with volunteers
    – WHAT’S A VOLUNTEER?
    – IS A REIMBURSEMENT ASSESSABLE INCOME?
    – IS AN HONORARIUM ASSESSABLE INCOME?
    – IS AN ALLOWANCE ASSESSABLE INCOME?
    – EXPENSES INCURRED BY VOLUNTEERS
    – WHAT ABOUT DONATIONS? ARE THESE DEDUCTIBLE?
  • Collectables – and inherited jewellery
    – Collectables
    – Personal use assets
    – But is it a business?
  • Using super to pay the mortgage
    – Introduction
    – What is preservation age?
    – What is a TTR pension?
    – Factors to consider
    – Need help?
  • Returning to work after retirement
    – 1. Retire on or after reaching
    – 2. Ceasing an employment arrangement after age 60 preservation age
    – 3. Retire after age 65 or older
    – Your super after returning to work
    – Impact on age pension

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