Author Archives: qfp-admin

Teaching your children the importance of money, saving, and financial planning

From my experience as a tax accountant, financial planner and a parent, I have had the opportunity to review many clients’ personal financial balance sheets, tax returns and personal net wealth. Below are five financial planning tips that I believe that we should be teaching our children. But before I delve onto those five tips […]

Tax on Income from Overseas Investments

Do you earn income from overseas investments? The Australian Taxation Office is targeting Australian taxpayers who are not declaring their earnings from overseas investments. Generally speaking, an Australian resident taxpayer is taxed on his or her worldwide income, regardless whether that same income is taxed overseas. Typically foreign income includes income earned on overseas investments, […]

Diversification, Asset Classes, and Your SMSF

Do you have a Self Managed Superannuation Fund? Are you one of the 17,700 trustees who have received a letter from the ATO questioning the asset diversification of your fund? The ATO has sent a letter to 17,700 trustees of Self-Managed Superannuation Funds (SMSF) questioning whether the assets within the Superannuation fund are too concentrated […]

How does your net wealth compare to other Australians

The Australian Bureau of Statistics (ABS) released the results of their 2017/2018 Income and Housing Survey. This survey measures household wealth by adding up all the assets owned by the household and subtracting all debts. In summary the key finding were: the average household wealth is $1.02 million the average household wealth has increased by […]