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Low Income Super Contribution

The Government has introduced a new super payment called the Low Income Super Contribution (LISC). The LISC payment took effect from 1 July 2012. Those eligible must have an adjusted taxable income not exceeding $37,000 of which 10% or more is derived from business or employment, and have made concessional contributions to a complying super

Changes To Phoenix Legislation

The Government has drafted The Corporation’s Amendment (Similar Names) Bill 2012 to curb phoenix activity in Australia. Phoenix activity involves the intentional transfer of assets by a director of an indebted company at a price below market value to a new company, of which they are also a director. The indebted company is then placed

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