In good news for high earners who exceed their annual superannuation contribution cap, from 1 July (last year) the ATO will no longer slug you with a penalty. Although, you’ll still be required to pay the top up tax on your excessive contributions according to your marginal tax rate.
At the end of the financial year in which Executive Share Scheme (ESS) shares have vested, participants may have a tax liability that needs to be paid. To avoid a cashflow crisis, you need to start planning your ESS tax strategy well ahead of June 30.
Movement in and out of Australia by mining and resources executives, professionals and business owners leave financial, tax and legal footprints in each of the countries they live and work in that can affect their wealth.
For mining and resources executives who find themselves trying to ‘time the market’ in the hope of selling shares at their peak price, you will very likely agree that this approach is hit and miss at best, not to mention stressful. In this article, we explore how Dollar Cost Averaging (DCA) can reduce risk caused…
