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Latest Accounting News
Hot Issues
Strategies to handle scam phone calls and problem e-mails.
Instant asset write-off threshold upped to $25k
Jail time for GST fraud
Correcting GST Errors
Fuel tax credit rates raised
ATO set to contact clients for overdue TPAR
Reminder on Victoria Property Duties
How Australia is performing.
Global outlook summary: Down but not out
Bookkeepers remind on incoming TPRS obligations
Golden Rules for Deductions
How's Australia going - vital statistics?
Tax, SMEs set to be ‘political football’ in 2019 as election nears
Cap lifted on popular financing option for clients
Expiry of 900,000 interest-only loans set for January
Australian Taxation Office (ATO) Scam Alert: Fake Demands for Tax Payments
Tax Office sounds alarm on popular property strategy
Our Advent calendar for 2018
‘Please do not panic’: ATO boss addresses STP concerns
Stop!! Don't do a paper Budget, use our online budgeting tools instead.
Employee Christmas Parties and Gifts – Any FBT?
Behavioural Coaching and your financial plans
FBT – Christmas Parties and Taxi Fares
Information needed to be the BBQ expert.
Tax consequences of trust vesting
Fringe Benefits Tax (FBT): employees’ private use of vehicles
ATO to contact clients over bank details
ATO claws back $850m in unpaid SG in FY 17-18
Appetite for property in SMSFs shows signs of life despite tough market
Superannuation gender gap narrowing, research shows
Articles archive
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Quarter 3 July - September 2016
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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