Helpful Articles and News from Garnet

Private health insurance rebate frozen

Private health insurance rebate frozen

Is your private health insurance getting more expensive every year? This could be the sneaky reason why... The government has once again quietly sought to freeze the private health insurance income thresholds for the private health insurance incentive, this time for...

ATO target rental property owners

ATO target rental property owners

Rental property owners beware, the ATO has commenced 2 data-matching programs designed to obtain a myriad of information to ensure that various income tax reporting obligations have been met. Specifically, the ATO will run a new data-matching program to collect...

Facing financial difficulty?

Facing financial difficulty?

Can I be released from my tax debts when facing financial difficulty? As the economy adjusts to the removal of most government COVID support measures, coupled with the slow rollout of national vaccination and mostly closed international borders, there is no doubt that...

Boost your super

Boost your super

Did you know you can boost your super with a co-contribution from the government? If you’re a low or middle-income earner, you can take advantage of the government super co-contribution scheme to boost your super. The scheme works like this, for eligible individuals,...

Benefits of Family Trusts

Benefits of Family Trusts

Many of you have heard of family trusts, but perhaps don’t know too much about their benefits and how they differ from the usual non-fixed trusts. Essentially, a family trust is a trust where the trustee has made a valid family trust election (FTE) for tax purposes....

Travelling for work… what’s deductible?

Travelling for work… what’s deductible?

Did you use to do a lot of travelling for work... before everything changed last year? As we move to a post-COVID world where borders, both domestic and international, start to open back up, the issue of deductibility of certain business travel expenses are again back...

Superannuation Death Benefits

Superannuation Death Benefits

Do you know what happens with your superannuation funds if you pass away before using them? While we’re dutifully putting money into our super in the hopes of making our retirement more comfortable, many of us have not considered the possibility that we may not be...