Do you know how your super is performing?

Mobbs & Company have a specialised team to assist with all your Self Managed Superannuation Fund needs.

We can assist with all areas of our Superannuation Fund, from setting up your SMSF to preparing your Financial Accounts and Taxation Returns. Our qualified staff are here to assist you; whether it is borrowing through your superannuation or any queries that you may have in between.

You can be assured that we can simplify your affairs and offer you the accurate and professional advice that you need, in a timely manner.

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Accounting News

Capital Gains Tax – which year?

 

Will you pay tax earlier than necessary?

The taxing point for a Capital Gain depends upon which event occurs.  The most common event is a simple 60-90 day contract for sale of a property.

Tax will be calculated (assuming main residence does not apply) on the relevant date, which will most often be exchange of contracts with taking of a deposit.

If that is before 30th June, it does not matter if settlement occurs in 90 days or even much longer.

Hence, contracts being negotiated in the final weeks before year-end would have better tax outcomes if exchanged after 1st July.