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Hot Issues
$20m boost for SME clients looking to exporting
Work-Related Expenses
ATO updates crypto guidance
ATO zones in on hundreds of newly created reserves
Senate passes $20,000 instant asset write-off extension
Victorian Vacant Property Tax
Director Penalty Notices
ATO set to pounce on undisclosed income streams
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
What is Bankruptcy?
Update of Australia's vital statistics
ATO speaks on risk factors, surveillance triggers for FY19
ATO’s corporate residency guidance cops backlash
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
Salary sacrifice integrity
Understanding the evolution of blockchain and cryptocurrencies
Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Articles archive
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Quarter 3 July - September 2015
Quarter 2 April - June 2015
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Quarter 4 October - December 2014
Quarter 4 of 2015
Articles
FBT – Christmas Parties and Taxi Fares
Merry Christmas for 2015 and Happy New Year.
Common errors in claiming deductions for super contributions
Employee Christmas Parties and Gifts – Any FBT?
Collectables Require Action Now
Why the ATO’s new powers make SMSF compliance more important than ever
Self Managed Superannuation Funds – Is it for Retirement?
ATO warns against misusing partnerships
The Scammers Shame
ATO offers SMSF 'unwinding' for aggressive tax arrangements
Salary and Wages PAYG Shortfall
SuperStream
Australian Taxation Office (ATO) Telephone Scammers – BEWARE!
Navigating the BDBN minefield
SMSFs warned on emerging LRBA issue
Short Access to Term Deposits
Retirees taking super in lump sum is a ‘myth'
Short Access to Term Deposits


                   


Investors will need to provide the bank with 31 days notice if you access the funds in your term deposit before the maturity date.


Investors in term deposits will often be confused by the excessive detail provided (often after the deposit is made).  The bank will go to great length to explain how difficult it will be to redeem the deposit only.  Only rarely will this matter.


If you have less than 31 days remaining on your term deposit, the earliest you can access funds is at maturity.


If you don’t provide the bank with alternative instructions, on maturity, your term deposit will automatically roll over for the same term at the applicable interest rate offered on the maturity date.  This is often where the bank wins (and you lose).  The rate you chose on first investment will often be less than the rate for a different term.  So be alert and prepared to continually change the term of investment (as well as bank).


Exceptions are if you are experiencing hardship.




24th-October-2015