Make 2022 a year of financial success

Make 2022 a year of financial success

With the new year upon us, now is the perfect time to make improvements and manage your finances better. Here are five things you can do to set yourself up for financial success in the new year. For more – Make 2022 a year of financial success

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2022: The year ahead

2022: The year ahead

2021 was supposed to mark the return to normality following the COVID pandemic. However, the pandemic has fundamentally altered our way of living and working. Get a glimpse of what to expect in the coming year: 2022 The year ahead

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How to set up your Director ID

How to set up your Director ID

To all Directors, you may be aware, ASIC has recently announced that all Company Directors will be required to obtain a Director Identification Number as required by the Treasury Laws Amendment Act 2020.

With applications commencing November 2021, we’ve prepared a client guide to help you with FAQs including:

  • What is a director ID? 
  • Who needs a director ID? 
  • Timeframes for registration 
  • How to set up a director ID?  
  • Foreign directors and the director ID system  
  • Directors in name only 

For more, How to set up your Director ID

We are here to help
If you have any questions or would like assistance regarding the Director ID requirements, please be sure to contact your advisor at PrimeAdvisory or call us on 02 9415 1511.

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Divorce, Superannuation, and the Gender Divide

Divorce, Superannuation, and the Gender Divide

From 1 April 2022, the Australian Taxation Office (ATO) will be able to release details of an individual’s superannuation information to a family law court.

The recently enacted laws are designed to ensure that there is procedural and economic fairness in divorce proceedings to prevent the under-reporting of superannuation assets. While a spouse’s superannuation information can be obtained now through legal action, if it is not provided willingly, it is often expensive and time-consuming to obtain factual information through subpoenas or court orders.

From April 2022, when a couple has entered into divorce proceedings, if one of the parties believes the other is not being forthcoming about the value of assets held in superannuation, they can apply to a family law court registry to request their former partner’s superannuation information held by the ATO. They will then be able to seek up-to-date superannuation information from their former partner’s superannuation fund.

For more, Divorce, Superannuation, and the Gender Divide

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Australians returning home – How to prepare before your arrival

Australians returning home – How to prepare before your arrival

As Australia meets its 80 percent double vaccination target, international travel is back on the horizon. Take a closer look at what this means for returning Australians.

An estimated 38,000 Australians will come back to their homeland, but returning individuals must take care not to enter the country without careful financial planning since failure to do so could lead to tax implications.

For more, Australians returning home – How to prepare before your arrival

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