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The growth of SMSF

At a recent presentation by the Assistant Commissioner, Superannuation in Melbourne he made the following comments;   “During the past four years the number of SMSFs has grown rapidly. As at the end of June 2013, there were just over an estimated 509,000 funds, an...

Estate Planning and Testamentary Trust

We are often asked what is a testamentary trust and will it be appropriate for me.   A “testamentary trust” is a trust created by a will, where the will directs certain assets to be held in trust for the deceased’s children, spouse or some other person.   That is a...

Quinn Financial Planning Federal Budget 2014

In our Federal Budget analysis we summarise the key features announced on Tuesday. As widely anticipated, this year’s budget contained spending cuts, tax hikes and other measures to counteract the long-term effects of an ageing population. Treasurer Joe Hockey said...

3 Reasons Personal Budgeting is Brilliant, Not Boring!

If a business owner said to you that they run their business without a budget, what would you think? You’d think they were incompetent. Or perhaps lazy? Or both? But what do most families do? When you think about it, a family is actually a mini business. There is...

The importance of planning for your retirement now.

Whether you are in your 30’s, 40’s or 50’s now is the time to prepare for a comfortable retirement. Unfortunately we meet with a lot of people where time gets away from them and they leave the panning too late. Did you know; 1.              That a male retiring at age...

Women are very concerned about their finances in Retirement

Based on the M.L.C. Quarterly Australian Wealth Sentiment Survey women are very concerned with regard to having enough money in their retirement.   Men on the other hand are less worried about having inadequate funds in retirement but are more concerned about missing...

The Importance of SMSF documentation

In Taxpayer Alert 2012/7 the Australian Taxation Office warns Self Managed Superannuation Fund (SMSF) trustees and adviser to exercise due diligience and care.  If a poorly executed investment leads to contraventions of the SIS Act the trustee may face...

Cost of Raising Children

In a recent study AMP.NATSEM 33 – The Cost of Kids, the report looked at the cost of raising Australian children.     The findings of this report can be summarised as follows:     1.   It costs a typical middle income family $812,000 to raise two children from birth...
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