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Understanding limited recourse borrowing arrangements
Understanding limited recourse borrowing arrangements A self-managed superannuation fund (SMSF), generally speaking, is not able to borrow to acquire assets. The rationale is that superannuation is meant to be a relatively conservative investment vehicle, and borrowing can put the fund at risk An example of this risk at work was seen during the global financial crisis (GFC) through margin lending […]
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End of Financial Year Checklist
End of Financial Year Checklist Planning for the end of the financial year is a little harder this year, with a federal election just days later which could result in sweeping changes to superannuation, negative gearing and business taxation. All the more reason to get on the front foot to make the most of the current tax arrangements while you […]
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Cyber Fraud + Tax. What you need to know.
Cyber Fraud + Tax. What you need to know. From fake Tax Office “delayed return” or “proof of identity” emails to telephone calls conveying similar requests, taxpayers have had to keep their guard up. So how can individuals and businesses protect themselves from online fraud and crime? Why are cyber scams on the rise? Scams have always been around in some form or another, […]
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Got your car log book ready?
Got your car log book ready? When claiming for work-related car expenses, many taxpayers miss out on maximising their claim due to inadequate record keeping. But also, failing to maintain a valid car log book can cost taxpayers dearly in a Tax Office audit. The car log book is an important piece of tax substantiation for those who use their vehicle […]
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How compound interest works for – and against you
How compound interest works for – and against you There’s a quote often misattributed to Albert Einstein that compound interest is the “eighth wonder of the world”. While savings accounts may not stack up to the beauty of the pyramids, the amount of power compound interest can have over your financial life shouldn’t be underestimated. In fact, compound interest is one of the fundamental […]
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