Financial Planning

inflation
Inflation, deflation – what’s in a name? When the inflation rate fell into negative territory in the June quarter, it was so unusual it begged the question of what this means for the economy. Are we facing deflation or even stagflation and what is the difference? Read more
Retirement, couple
Getting retirement plans back on track After a year when even the best laid plans have been put on hold due to COVID-19, people who were planning to retire soon may be having second thoughts. You may be concerned about a drop in your super balance, insecure work, or an uncertain investment outlook. Read more
Strategy chess
SMSFs on the defensive: Is it time to revisit your strategy? Self-managed super funds (SMSFs) have had a challenging year, with COVID-19 linked market uncertainty affecting income and returns. But SMSF trustees haven’t been sitting on their hands. Read more
Will and Estate Planning
Understanding CGT when you inherit Receiving an inheritance is always welcome, but people often forget the tax man will take a keen interest in their good fortune. Read more
Bookkeeping - taxes
Make selling your business less taxing Selling a business you have spent so many years building up can be a difficult process, but getting the best price is not the only consideration. Tax has a big role to play in the financial result.

That means the ATO will be paying close attention. Selling a business is considered as disposing of an asset, so it triggers a capital gains tax (CGT) event.

If your sale isn’t handled correctly, you could find yourself on the receiving end of a hefty tax bill and a lot less profit than you expected. Read more