The ability for life insurers to discriminate based on adverse predictive genetic test results will be banned under a new Government proposal. Predictive genetic tests detect gene variants associated with heritable disorders that appear after birth, often later in life, but are not clinically detectable at the time of testing. To overcome concerns about discrimination […]
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The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an Australian resident Russian couple ‘gifted’ over $1.6m in unexplained bank deposits,
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In a world where financial decisions can shape our future, having the right guidance is paramount. Melbourne, known for its vibrant culture and bustling economy, offers a myriad of opportunities for individuals to grow their wealth. However, with this abundance of choices comes the challenge of finding a trusted financial advisor who can navigate you
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When it comes to managing your investments and business ventures in Australia, understanding and minimizing Capital Gains Tax (CGT) can significantly impact your financial gains. CGT is levied on the profit you make from selling an asset, such as property, shares, or business assets. However, with the right strategies and guidance from a knowledgeable business
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High-income earners in Australia are one of the highest taxed in the Western World. Those earning over $180,000 are subject to a 45% marginal tax rate, plus the Medicare Levy. Fortunately, several strategies can help high-income earners legally reduce their tax liability. Melbourne business accountants such as Nobel Thomas can help. Here are some important
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Selecting the right accountant can be crucial for your future success. By choosing the right accountant in Melbourne, you are choosing an accountant who understands tax legislation, business structures, and business strategies who will be your financial partner for life. Here are ten essential tips to guide you in choosing the perfect accountant. 1. Understand
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