Provident Advisory Group’s Post

Proper tax advice is critical...

🌟 Big news for young Canadians! The Liberal government is stepping up with exciting affordability measures, especially for mujeres facing financial challenges. 💪✨ Their innovative 'tax holiday' is here to lighten your financial burden—finally, some real action! Curious how this could change your budget? Check the app for all the details and seize this chance to ease your cost of living! Together, let’s drive for change! #Canada #Affordability #TaxHoliday #YoungCanadians #WomenEmpowerment #Finance #Politics #BreakingNews #MiGente 💸🚀 #Canada #Affordability #WomenEmpowerment #YoungCanadians #Finance #BreakingNews #Business

The most common question we get asked towards the end of financial year is “how much should I contribute to super”, and our answer is always “it depends”. If you’ve decided you want to contribute to super and reduce or eliminate your Australian tax, the amount would depend on what outcome you are trying to achieve.  Jump in the below article to have a read with your coffee.

Busting Australian Expat Finance Myths in the US 🚨 Moving to the US comes with many financial considerations, especially for Australian expats. Let’s break down some common misconceptions: 📉 Myth: The US doesn’t tax the sale of Australian property. Reality: The IRS could impose tax on the capital gains from your property sale. You might be eligible for exclusions, but it varies by state. 🏠 Myth: I only need to pay tax on rent in Australia. Reality: As a US taxpayer, you must report rental income on your US tax return. It’s considered foreign income and may be taxable. 💰 Myth: My super distributions are tax-free. Reality: While they may be tax-free in Australia, super distributions are typically subject to US income tax, as super isn’t treated as a qualifying retirement account. Stay informed and avoid costly mistakes! Join us for our upcoming webinar to learn more. Register now! https://lnkd.in/ghKzn_An Terry Hoban William Cant #AustralianExpats #USFinanceMyths #TaxPlanning #AllyWealthManagement #FinancialPlanning

Planning to move out of Canada? 🛫 Don't let departure tax catch you off-guard! Departure tax is like a goodbye fee on your assets, and it can be hefty without proper planning. Experts urge early preparation to minimize taxes and avoid penalties. Know your exemptions and consider your financial strategy well in advance. Whether it’s real estate, retirement plans, or business interests, getting it right can save you a lot in the long run. Don’t be part of the rush; start your tax planning today! 💼📊 ℹ️ More Information 👇 https://lnkd.in/ezsTCp2z #Canada #DepartureTax #Expatriate #FinancialPlanning #TaxTips #Emigration #TaxSeason #WealthManagement #CanadianTaxes #MovingAbroad #DailyPost #NewsOfTheDay #TakingCareOfBusiness #Advice #DeathandTaxes #Taxes

Which Hubs Will Benefit From UK’s Non-Dom Tightening?: Financial hubs in Asia and elsewhere are expected to benefit from wealth outflows out of the UK due to the latest decision to tighten tax rules on non-domiciled residents. #Finance

There are many motivations to contribute to super, and each will have its own considerations. It then becomes a question of, well how much should I contribute? Our recent article helps with some considerations for those common motivations, including: - Wanting to eliminate all their Australian tax - Wanting to build up their super as much as possible - Having a fixed amount to contribute You can read the full article here: https://lnkd.in/d24R4CN4 Brett Evans James Ridley AFP® Martin Jack Adam Prentice Ben Turner

The government has implemented adjustments to the stage three tax cuts, which were originally introduced by the previous Liberal government. These changes aim to deliver more equitable financial relief, particularly targeting low and middle-income earners who have been disproportionately impacted by the rising cost of living. Superannuation specialist Aimee Taylor explains these changes in more detail. Link in the comment section #TaxCuts #FinancialRelief #CostOfLiving #Australia #Beaumaris #Geelong #Colac #VistaFinancialGroup #AchieveYourTomorrow

For my colleagues and compatriots in the financial advice and UK tax industry: what are you keeping an eye out for in the Autumn Budget? Here are mine: - How will excluded property trusts be impacted? - Will long-term British expats be let off the IHT hook simply by staying away for 10+ years, or will there be additional complications? All will (hopefully) be answered by tomorrow, but I’m interested to hear your thoughts in the meantime.

It happened. The government is changing the capital gains inclusion rate. https://lnkd.in/g_9rQfu2 Budget 2024 proposes an increase in taxes on capital gains on the wealthiest 0.13 per cent. To make Canada's system more fair, the inclusion rate—the portion of capital gains on which tax is paid—for capital gains for individuals with more than $250,000 in capital gains in a year will increase from one-half to two-thirds. Individuals will continue to only pay tax on 50 per cent of any capital gains up to $250,000 per year. The inclusion rate will also increase to two-thirds for all capital gains realized by corporations and trusts. The new rules will apply to capital gains realized on or after June 25, 2024.