Insights
Welcome to the Saab Partners blog, your one-stop source for the latest insights, trends, and expertise in the world of accounting and financial services. Join us as we navigate the ever-changing landscape of finance, empowering businesses and individuals through strategic partnerships and unparalleled expertise.
5 million+ struggle with mortgage payments
New nationwide research released by ASIC’s Moneysmart reveals that 47% of Australian adults with debt, the equivalent of 5.8 million people, have struggled to make repayments in the last 12 months. Alarmingly, the research revealed that more than half surveyed,...
ATO fires warning shot on trust distributions
The ATO has warned that it is looking closely at how trusts distribute income and to who. The way in which trusts distribute income has come under intense scrutiny in recent years. Trust distribution arrangements need to be carefully considered by trustees before...
The essential 30 June guide
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. For you Opportunities Take advantage of the 1 July 2024 tax cuts by bringing forward your deductible...
Company money crackdown
The ATO is cracking down on business owners who take money or use company resources for their personal use.
Should you be the ‘bank of Mum & Dad’?
The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst.
Generational succession: Do your kids really want to take over your business?
Generational succession - handing your business across to your kids or family - sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and children are most vulnerable.
Accessing money in your SMSF
The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs). In general, access to your super is only possible if: You retire and turn 60; or You turn...
Warning on SMSF asset valuations
The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of...
Budget, tax cuts and small business investment incentives
The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero. According to election guru Antony Green, the window for the next...