Women in Finance Award

    Jemma Sanderson Nominated for Women in Finance Award

    15/09/2017
  • Cooper Partners is proud to announce Jemma Sanderson and Cooper Partners Financial Services as having been nominated for the 2017 SMSF Advisor and SMSF Firm of the Year including a Women in Finance award. Jemma is a Director and heads up Cooper Partners SMSF specialist superannuation services. These awards acknowledge Jemma and Cooper Partners Financial Read more…

  • Superannuation – Pre 30 June Considerations

    26/06/2017
  • As 30 June 2017 approaches, it is important to attend to the usual requirements before 30 June, plus ensuring the relevant documentation is in place with regard to the new superannuation rules. The areas for consideration include: Change in contribution caps from 1 July 2017; Ensuring minimum pension payments are made; Restructure of pension accounts; Read more…

  • End of financial year planning

    06/06/2017
  • Understanding what the potential tax liability will be for your business and allowing time for tax planning can result in considerable tax savings and with the end of the financial year fast approaching, now is a critical time to assess your year-end tax planning and tax compliance considerations. The purpose of this guide is to Read more…

  • 2017 Federal Budget – Cooper Partners breaks it down for you

    12/05/2017
  •   The centrepiece in the Government’s 2017 Budget is around housing affordability. This includes the introduction of various measures to attract sophisticated investors and managed investment trusts to invest in affordable housing for the benefit of low income earners by providing new tax incentives. Unfortunately, the Government did not take the opportunity to reduce red Read more…

  • Company tax rates reduction and increase to Small Business Entity threshold

    06/04/2017
  • TAX UPDATE Company tax rates reduction and increase to Small Business Entity threshold In brief: Following the release of the 2016/17 Federal Budget, a number of measures were announced that offered tax concessions to small business and corporate taxpayers. However, the ensuing Federal Election opened up a debate as to whether or not such measures Read more…

  • Fringe Benefits Tax – Our top 10 to keep you in the know this FBT season

    09/03/2017
  • The 2016/17 FBT year is coming to a close on 31 March and in order to get you ready for FBT reporting, we present our top 10 tips, changes and reminders to keep you up to date this season. 1. Key 2017 rates, dates and thresholds For the second year in a row, the FBT Read more…

  • Are all employee share options now taxed at the time of exercise of the options?

    14/02/2017
  • When the Employee Share Scheme (ESS) rules were amended from 1 July 2015, one of the reasons behind the amendments was to provide more concessional tax treatment for options. Previously, many taxpayers were either taxed at the time of acquisition of the options (‘taxed upfront’) or at the time of vesting of the options, despite Read more…

  • We Have Law – How the new Superannuation Law affects you

    02/12/2016
  • On 23 November 2016 the bulk of the legislation with respect to the substantial superannuation changes announced in the 2016/2017 federal Budget passed through both Houses of Parliament. Since the federal Budget, the Government updated their policy regarding several of the proposed changes, most of which were positive. Now that the legislation has been passed, Read more…

  • It’s starting to look like Christmas – a time for tax-effective giving

  • Christmas is traditionally a time for giving including showing your team and clients a token of your appreciation. It is also a time of festivities and lots of dining. With the right approach it is possible to provide these with no FBT. However, this area of law if complex. So we provide our gift to Read more…

  • It’s an Octoberfest of Changes for Employers!

    27/10/2016
  • With the Turnbull Government now settled in, many tax changes previously raised in the Budget are now coming through Parliament. Here is a rundown of the key changes impacting employers. 1. Personal Tax Cuts Employers be aware as of 1 October 2016, the PAYG Withholding rates for employees have changed. The 32.5% tax threshold from $37,001 Read more…

  • Super Update – Further details on the new NCC bring forward cap

    23/09/2016
  • Following on from our Super Update last week, the Treasurer has provided further clarification regarding how the transitional rules will work for individuals who trigger the $540k cap before 1 July 2017. Individuals have one last opportunity this year to use the higher personal after tax contribution limits of $180,000 per year. Where the taxpayer Read more…

  • Tax Record Keeping – In An Electronic Environment

    21/09/2016
  • Within a rapidly changing digital world and with an increasing number of businesses moving towards paperless offices, we are often asked whether tax records can be stored electronically and how long they should be stored for. Electronic storage has obvious benefits, including ease of accessibility and storage efficiency. However, you should be aware of specific Read more…

  • Super Update- $500k lifetime cap scrapped

    15/09/2016
  • Since the initial announcement on 3 May 2016, the Government’s proposal to introduce a lifetime cap of $500k for non-concessional contributions, has caused much uncertainty and lack of confidence towards the superannuation system. In response to the backlash surrounding this controversial measure, the government has now announced their decision to scrap the $500,000 lifetime after-tax Read more…

  • Single Touch Payroll Reporting

    07/09/2016
  • As you may be aware, the Budget savings (Omnibus) Bill 2016 (“the Bill”) has been introduced to Parliament. The bill contains the ‘Single touch payroll reporting’ (“STPR”) measures, which introduce significant changes to current employer reporting requirements. The STPR rules are designed to reduce compliance cost for employers by providing relief from certain year end reporting Read more…

  • SuperStream Deadline Extended for Small Employers

    24/06/2016
  • While the deadline to comply with SuperStream for larger employers was 1 July 2015, the ATO has announced they have extended the deadline for employers with 19 or fewer employees to be fully SuperStream compliant until 28 October 2016. SuperStream is a government initiative with the purpose of improving the efficiency of administering the Australian Read more…

  • 2016 End of Financial Year Planning

    22/06/2016
  • As 30 June is rapidly approaching, it’s a great time to stock take and identify any last minute planning opportunities and prepare for the year ahead. Small Business Entity (“SBE”) If you qualify as a SBE the following tax concessions are available; Immediate Asset Write-off (assets less than $20,000 GST exclusive) until 30 June 2017 Read more…

  • Superannuation – Pre 30 June Considerations

    17/06/2016
  • As 30 June 2016 rapidly approaches, it is important to consider your options to maximise your superannuation and attend to any outstanding matters before year end.  This is particularly relevant given the proposed changes announced in the 2016/2017 Federal Budget on 3 May 2016, whereby optimising your superannuation is incredibly important. The areas for consideration Read more…

  • Buyers and Sellers of Property Face More Red Tape.

    23/05/2016
  • The Government as of 1 July 2016 will require Australians, purchasing property over $2M to withhold 10 per cent of the sale price and pass that money to the Australian Tax Office. Purchasers of property will now become Australia’s tax collector to support the operation of the foreign resident capital gains tax regime by catching Read more…

  • 2016 Federal Budget

    04/05/2016
  • eDelivering his first Budget, Scott Morrison could be accused of implementing a Nip and Tuck leading up to the election, with tax breaks for small businesses and middle income earners to be fully funded by a crackdown on multi-national tax avoidance and the tax concessions for wealthy superannuants. Personal Tax The middle income tax bracket Read more…

  • What does the 2017 budget mean for you and your super?

  • There has been so much speculation and rumours surrounding superannuation leading into last night’s budget. And indeed superannuation was the hot topic particularly for wealthy superannuants, whereby they have been hit the hardest to fund the generous tax concessions for small businesses and individuals. The overarching objective of superannuation is to be enshrined in the Read more…

  • ATO Guidelines on Related Party Loans to SMSFs

    13/04/2016
  •     The ATO has released a practice statement on what they consider to be arm’s length arrangements where a superannuation fund has borrowed money from a related party under a Limited Recourse Borrowing Arrangement (LRBA). The ATO has taken a very conservative approach, with several of the factors contrary to industry advisement. They have Read more…

  • Potential Federal Budget Changes 2016

    05/04/2016
  • With less than one month to the Federal Budget 2016, there has been much speculation surrounding possible changes that the Government may propose to the Australian taxation system. We have summarised below some of the key points that have been circulated in recent press. Click here to read more…

  • Ronald McDonald House Charity Cook-Off

    24/03/2016
  • As part of our commitment to giving back to the community, we were privileged enough to help out in the new Ronald McDonald House kitchen in Nedlands over 2 nights last month. No-one was afraid to get their hands dirty for such a great cause. Thanks to everyone who participated! It was great to have Read more…

  • What’s Trending in FBT 2016

    23/03/2016
  • As you may be aware, 31 March 2016 marks the end of the 2016 FBT year and with FBT on everyone’s minds we list our top 5 trending topics to prepare you for the FBT season. # 1. Cooper Partners 2016 FBT Tips   Follow our tips below and you will be sure to save Read more…

  • Innovation Statement Released – A snap shot of the tax breaks that impact you

    08/12/2015
  • In its Innovation Statement released today, the Government has extended tax breaks to provide greater flexibility for entrepreneurs and investors in Start Ups. With the measures earmarked to commence next July, 2016 is shaping up to be the Year of Innovation for Australia. Please click here to read more…

  • SMSFs – Collectables and Personal Use Assets Action before 2016 deadline

    18/11/2015
  •   New legislation came into effect from 1 July 2011 in relation to Trustees of SMSFs investing in Collectables and Personal Use Assets (CPUA). The new rules applied immediately to any CPUA acquired from 1 July 2011. However, there was a transitional period for SMSFs that held CPUA on 30 June 2011, in which the Read more…

  • TAX ALERT: ATO Review of Professional Practice Structures now in full force

    13/11/2015
  •   From 1 July 2015, the Australian Taxation Office (‘ATO’) is actively reviewing professional structure arrangements in line with its recently updated guidelines (‘ATO Guidelines’) (the original draft guidelines were previously released in September 2014). The ATO Guidelines detail how the ATO will assess the audit risk in relation to profits paid from professional practices, Read more…

  • Underpaid SMSF Pension? All might not be lost…

    03/11/2015
  •   When minimum pension payments are not physically made to fund members within the relevant financial year, there can be substantial tax consequences for the fund (therefore impacting the member’s account). It is important to make sure that the minimum is paid to avoid these consequences. Where the minimum is not paid, the implications can Read more…

  • Start-Up Companies – Stand Up and Cheer!

    26/10/2015
  • As of 1 July 2015, employee share schemes are more attractive for start-up companies. Click here to read more…

  • Employer Obligations – Super Guarantee Health Check

    15/10/2015
  • We have noticed a growing trend in employers making mistakes in determining their Super Guarantee (“SG”) Obligations. It may be time for you to conduct a Superannuation Guarantee Health Check.   Check 1 – Pay on Time SG contributions need to be made on a quarterly basis no later than the 28th of the month following Read more…