Tax Update August 2012
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  Running Time: 5:29 Date: 01/08/2012 How does negative gearing work on property purchased by a self-managed super fund? Here's the pros and cons. Is there a tax advantage to negatively-gearing a property through a self-managed super fund rather than holding it in your own name, given the relative tax rates involved? Well there may be, says Michael Jones of Cummings Flavel McCormack, if you're using deductible contributions to pay down the principal and interest on the loan. And premiums on life insurance policies held in a super fund could be treated the same way. On timely matters, Michael this month reminds us of the changes to the private health insurance rebate which took effect on July 1 and sets out the new marginal tax rates which also now apply. Topics: Accounting & Tax, Financial Management |
 Michael Jones, Cummings Flavel McCormack |