Do I need a family trust?
There are many reasons to consider setting up a family trust but it is important to understand what they are and what benefits they can provide before making the move.
There are many reasons to consider setting up a family trust but it is important to understand what they are and what benefits they can provide before making the move.
Beat the urge to splurge The urge to buy something on impulse can be strong for a lot of reasons – it’s a bargain, you deserve it, or just because it’s right there. However, impulse buying can become a problem if it means you spend more than you earn. Here are our tips on how…
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Over the last 6-12mths we have seen dramatic movements in Home Loans rates, both up and down, and all movements have been independent of any changes to the official rates by the Reserve Bank. Why ??
For Individuals The ATO is increasing their audit focus on the following areas:
Download a copy of our July Newsletter
It is fast approaching the 30th of June so now is the time to run through a checklist of what you need to do prior to the end of the financial year.
One of the more common strategies used by business owners to reduce tax is to purchase a car before the end of the financial year. This often sees lenders completing up to 1/3 of their entire year’s vehicle finance budget in the last 6 weeks of the financial year. Thankfully the last minute stress and…
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So it’s the first week of June and you’re probably thinking that it’s too late to do anything material to reduce your tax before June 30. Right?? Wrong!! It’s both obvious and true that like any other life endeavour nothing usually beats a combination of great advice followed by a commitment to work to a…
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Every year news outlets flood us with information about changes in the budget, all manor of issues are covered and their consequences for individuals and businesses are highlighted to all. As can be the case with news media, some of the information is sensationalised and some of it complex so the truth, the actual impact…
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In Australia, around 77% of SMSF’s currently have individual trustees. However, the case for using a corporate trustee is growing stronger and we are now seeing an annual shift away from individual trustees. In this issue, we investigate some of the reasons why this is the case:
Changes to superannuation laws in 2007 provided SMSF’s the opportunity to borrow for the purpose of acquiring a single asset (such as a commercial or residential property) through their SMSF. If the SMSF has a deposit that meets the lenders requirements the lender will provide the balance of the purchase price. Legislation requires that the…
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To retire comfortably, your employer’s 9.5% contributions to your super may not be enough. By making extra contributions, you will boost the amount of super you have when you stop working. The key though is to start now so you can relax later. Why grow your super? There are lots of good reasons why you…
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Download a copy of our May Newsletter
More than 300,000 part-pensioners will either suffer a cut in their payments or lose access under new asset test rules coming into effect on 1January 2017. Under the deal struck between the Coalition and the Greens, more than 90 per cent of pensioners will be better off or have no change to their payment.
You can claim a deduction for repairs and maintenance to your property as long as they are not capital expenses. Many landlords forget about the new tap or roof repair as their primary focus is on the rental returns and capital gains.
If you put all of the Australian banking economists into a room and asked them to come to a consensus on interest rates the likelihood is you would not get one. How then are us regular punters supposed to get it right when the time comes to make a decision on our own interest rate…
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