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Government delivers “election friendly” 2019/20 Federal Budget

A surplus election budget is the news coming out of the 2019-20 Federal Budget. With superannuation left largely untouched, the Government focused on further personal income tax cuts. However, three key announcements include providing more flexibility for individuals to contribute at ages 65 and 66, the ability to choose their preferred exempt income tax method and increased funding for electronic super rollovers are welcomed. This Federal Budget will provide much…  Read more

Budgetary Policy: It’s all part of the plan

In 2019, the first Tuesday in April is financial planning’s night of nights. (Usually, the big night comes in May, but this year it has been changed as a one-off). That is the night when the Federal Government hands down its proposed budget for the coming financial year and beyond. This year, we have a first-time federal treasurer handing down the budget. That said, much of the heavy lifting of…  Read more

4 questions you should ask your accountant

Ideally, you and your accountant are more than just “adviser” and “client”. With your combined skills, expertise, and shared mission to support a thriving business, you’re more like strategic partners. The key to achieving success in any partnership is, of course, strong communication. At your next meeting, be sure to ask your accountant these four important questions. 1. What’s my best strategy for increasing revenue? Every business owner strives to…  Read more

Happy New Year

We love new years. They are a wonderful opportunity to focus our mind on sorting out our finances once and for all. No one enjoys life if they are troubled by money. So, here are some things that you should be looking at straight away to make sure the 2019 is truly a happy financial year. Superannuation One of the most boring things ever invented, superannuation is also one of…  Read more

Is managing your own super for you?

The concept of self managed superannuation is not new; there are many of these funds that have existed for over 30 years.  Today, there are over 1 million Australian’s managing their own superannuation.  The majority sight the reasons for managing their own superannuation as being  flexibility, control and cost. Like any financial decision, managing your own superannuation needs appropriate research to be undertaken, time to be allocated and knowledge to…  Read more

Positive gearing into property

Positive gearing is the opposite of negative gearing. It is jargon for borrowing to buy an investment where the expected assessable income is more than the expected deductible interest cost (and other costs), with a resultant increase in assessable income. In the context of housing prices, this means buying on a rental yield of at least 5% or more. This is a very unusual phenomenon. Most residential property will not…  Read more

Negative Gearing and Shares

Negative gearing occurs where the income from a ‘geared’ asset is less than the interest and other holding costs, creating a loss while the asset is held. A ‘geared’ asset is one that is at least partly financed using debt. Investors can usually offset the loss from negative gearing against other income for tax purposes. This creates a tax benefit, in the form of less tax being paid than otherwise,…  Read more

How to create good habits in business

If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. Often you’re faced with prioritizing what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know you should do for the ongoing growth of your business. Scheduling time to attend to these business activities on…  Read more

Preparing your finances for the New Year

I know what you’re saying; “We have barely got through Christmas and now your talking about the New Year”!  If you are like me, it only felt like a few weeks ago that we were ringing in 2017 and now it is nearly done.  In all seriousness, managing your finances should be a year round responsibility however the New Year is the perfect time to review, evaluate and reset.  In…  Read more

Thinking about the First Home Super Saver Scheme?

In our final article this month on managing family wealth, we look at the First Home Super Saver Scheme.  This is relatively new with the scheme having been announced in the last Federal Budget and legislation only recently being enacted. We have put together a quick fact sheet on the topic which you can access here.  Whether it is you, a child, grandchild or a friend that could benefit, please…  Read more

How do you pass wealth to the next generation?

This is a topic that everybody will eventually think about.  Whether it is the transfer of modest savings to children through to more significant amounts of money, the issues that are faced are generally similar. We have put together an eBook that looks at the topic of passing wealth to the next generation which you can access here.  We would love to receive your feedback on this.  Read more

Teaching kids how to manage money

A couple of weeks ago, we shared with you some thoughts on how you can help older children into a property.  We must have struck a chord with a few of you as we received a number of calls to chat further. This week, we thought it would be a good idea to look at the very young members of your family.  The topic of teaching kids about money is…  Read more

Tax & the Sharing Economy

The traditional business model has changed significantly in a very short period of time with many now operating in the online or “sharing” economy.  Whilst the channel for the delivery of outcomes may have changed, it does not necessarily mean an alteration to the tax implications of the business. If your business has moved into the sharing economy, make sure you avoid the big stick of the tax office.  The…  Read more

Your business should be your most important investment

This week, we want to talk to you about what may turn out to be the most significant investment you could ever make. It is your own business. You may be surprised to hear that most financial planners are actually prevented from advising clients about their own business. Their licencee (the person under whose authority they provide advice) will not let them do so. Licencees typically insist that the advice…  Read more

Tax Matters – August 2017

 Topics covered in this issue: CGT strategies for your holiday home ATO targeting work-related expenses Using the $20,000 instant asset write-off Managing your GST liability   Read more  Read more

Business Matters – July 2017

Our newsletter topics: Passing on the family business Simpler BAS from 1 July Improve your internal communications Checklist for new workers Changes to workplace laws Secrets to hiring the right team Essential qualities to successful business owners   Read more  Read more

Year End Strategies 2017

Topics covered in this issue: Reducing Capital Gains Tax Claiming depreciation on Investment property Staying on top of your records CGT relief provisions for SMSFs Tax tips for property investors 2017 year end tax tips Easier GST reporting for food retailers ATO targeting online selling Super reforms on the way   Read here  Read more

Tax Matters – Budget 2017

Our newsletter topics: A continued commitment to growth Keeping tax payers honest CGT events affecting shareholders Rates increase for fuel tax credits Building a sustainable lifestyle ATO to report unpaid debts A better workplace A guide to negative gearing Speed up your BAS refund   Read here  Read more

Business Matters – April 2017

May newsletter topics include: Managing morale through change Common traps at tax time ACCC compliance priorities for 2017 Changes to penalty rates Applying small business restructure rollover Are your website costs tax deductible? Managing your GST liability Growing your business with live streaming   Read here  Read more

Wealth Matters – March 2017

March 2017 topics: Protecting your finances after separation Reverse mortgages : a retirement solution Preparing for the super changes Boost your retirement savings Common errors when investing Investing in property through an SMSF Preparing to help out parents financially Why use a Binding Death Benefit Nomination?   Read here  Read more

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