Monthly Archives: October 2019
Costs and Fees on Running an SMSF
A report from the Australian Securities and Investments Commission (ASIC) says that 32% of Self-managed Superannuation Fund (SMSF) members found that setting up their SMSF is costlier than expected. Also, 38% of SMSF owners said that it was time-consuming to set up than anticipated.
But because of the significant benefits of...
Government Guarantee on Bank Deposits
Before 2012, under the Financial Claims Scheme (FCS), deposits in Authorised Deposit-taking Institutions (ADIs) such as banks, buildings societies, and credit unions were guaranteed by the government up to an amount of $1 million. Under the revised Scheme, the updated permanent cap was reduced to $250,000.
The Australian government guarantees bank...
Tax Treatment on Australian Employee Stock Options
Employee Share Schemes (ESS) enable employees to buy shares of the company they’re working for at a discounted price. Alternatively, employees may choose to buy stock options which give them the right to buy or sell shares at an agreed price and date. Regardless of the scheme offered, employees are...