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Articles

Will you outlive your retirement savings?

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With the changes to the superannuation laws from 1 July 2017 most pre retirees are concerned that they will outlive their retirement and investment assets in retirement. Others are concerned that they only will have two choices. (i)   they either downsize their residence to free up capital in order to retire, or (ii)  continue to… Read more »

Vinnies 2017 CEO Sleepout

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After much success last year, I’ve decided to do the CEO Sleepout once again. Homelessness in Australia is an issue that sits under the radar for most of us. I feel that as a community, it is up to us to make a positive difference to those who need a hand up when things get… Read more »

Countdown to super deadline

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The clock is ticking for investors who want to take advantage of the more generous tax concessions available in super this financial year. As of July 1, new rules come into effect that will reduce contribution limits. Until then, individuals can make a non-concessional (after-tax) contribution of up to $540,000 under the bring-forward rule which… Read more »

Important facts about small business in Australia

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The Australian Taxation Office (A.T.O.) has provided the following statistics; There are more than 2 million small businesses in Australia. The A.T.O. define a small business entity as a business with total turnover of less than $2 million. 96% of all Australian businesses are small businesses. Small businesses account for over $330 billion of Australia’s… Read more »

Blended families, superannuation and death benefits – what you need to know

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Are you in a blended family relationship?  If you answered “yes” to this question, read on. By way of an example, let’s say that you are now in a relationship where you have children from a previous relationship and your partner, spouse or de-facto has children from his/her previous relationship. With regard to your superannuation… Read more »

Do you invest in shares?

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Beware, the Australian Taxation Office is concerned that taxpayers are not disclosing in their tax returns; 1. The correct dividends 2. The correct capital gains, and 3. Corporate actions, for example, corporate reconstructions that result in dividends or shares being allocated to shareholders. As a result the ATO has a data matching program to ensure… Read more »

Money matters for 20 somethings

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Our attitude to money and investments change as we age. In this series we look at each decade of our financial life and look at the relevant financial strategies we need to address. The first decade of our financial adult life is in our 20s. Experts tend to say that 20 somethings do not take… Read more »

Do you own an Investment Property?

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From my experience as a Chartered Accountant and Certified Financial Planner many property investors do not claim all the tax deductions they are entitled to. To assist you to legally minimise your taxation liability this year I have prepared a comprehensive list of tax deductions. Rental property expenses; Advertising for tenants Bank charges Body corporate… Read more »

Buying or Selling Property? The 1 July Tax Changes

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New rules to prevent foreign residents avoiding tax when they sell Australian property will affect everyone buying or selling property with a market value of $2 million or more from 1 July 2016.  Many transactions involving shares in a company or units in a trust will also be caught. From 1 July, a 10% withholding… Read more »

Have you lodged your tax returns? Are you on the Commonwealth Electoral Roll?

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The ATO will acquire details of registered voters on the Commonwealth electoral roll from the Australian Electoral Commissioner. This data will be collected on an ongoing basis and is refreshed every three months. The data items that will be obtained are personal details of: Name of the registered voter. Their residential address. Sex of the… Read more »