Investment Property owners: understand how valuations can affect your tax
Estimates are most commonly used in apportioning expenses between private and business use. More important however is the use of valuations to work out the cost of transactions that are not at arm’s-length or when no actual cash changes hands. A common example is in respect of property transactions. Why are valuations in property transactions important for […]
Life Event: How much does a wedding cost?
It’s the biggest day of your life to-date, and it’s been months or even years in the making. Countless hours (or even days!) of planning, buying, meeting, choosing and celebrating, all lead up to that perfect day that is your wedding. Your wedding day can be as cheap or expensive as you want it to […]
Steps to financially survive losing your job.
Losing your job isn’t just about your career. It can have a far reaching effect on your bank balance, your health and your self esteem. There are so many considerations and thoughts that will be running through your head at this time. It is therefore imperative to compartmentalise each aspect and break down the future piece-by-piece. Your […]
Beware of Superannuation Scams
We keep hearing from the media that money scammers are becoming more and more crafty. Both the ‘bank fee refund’ and the ‘ATO debt collection’ scams have garnered significant attention recently as a result of the sophisticated techniques and powers of persuasion used on unsuspecting victims. Superannuation scammers have been around for many years in various forms, and […]
How the financial system inquiry will impact you
On Tuesday, confirmation of the outcome of the most substantive review of the financial system in over twenty years was delivered by the Prime Minister and Treasurer. There are a few key policies which will impact almost every adult in Australia in some capacity or another. Our analysis on those that we think will have the […]
Aussies losing $2.75bn in compulsory super payments each year: ASFA
According to the Association of Superannuation Funds Australia (ASFA), Aussies are losing $2.75 billion each and every year through non-payment of their superannuation by employers. ASFA estimates that this is impacting 650,000 Australian workers each year, with the average person losing nearly $4,000 per annum in super which is the equivalent to 9 months SGC […]
New study confirms what we all secretly knew, some of us are washing money down the drain.
A new study has revealed what most of us already suspected, but didn’t want to admit; if we made the effort of reviewing our interest rates, utilities providers and bank fees, we could save hundreds (perhaps thousands) of dollars per year. The report, conducted by the Queensland University of Technology (QUT) on behalf of Heritage […]
ATO now matching credit card purchases against income
Just when you thought the tax man couldn’t get any busier, the ATO has recently announced that it has embarked on the assignment of matching up income declared on business tax returns against credit and debit cards records that specific banks and institutions have generated through the 2015-15 year. This is an entirely new operation […]
When can you withdraw your super?
For many Australians superannuation is the largest asset they will ever own, outside of their own home. With the rules changing every few years and the contamination of changing Centrelink Age Pension ages, it can be confusing working out exactly when you will be able to access your super benefits. First things first, you must meet […]
Preparing your business for sale
You may be retiring, changing direction in life or have met your established goals and the time has come to sell your business. The pre-sell, negotiations and transition out can be a stressful time in any business owner’s life, but by having a clear plan in place from the moment you decide to sell, the […]