Blog – Maddern Financial Advisers

Be ahead of the news in accounting, private wealth and finance

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Spotlight on super performance

Team Maddern
Superannuation has provided most fund members with stellar returns since last year’s COVID lows. As always though, some funds performed better than others and recent government reforms make it easier to find out how your fund compares.
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GST and the sale of your business property

Team Maddern
Selling your business property is a big decision and it’s easy to focus on the sale price, but this can be a costly error. Many owners forget to factor GST into their thinking. But if you do, you could find yourself left with a big tax bill to pay. There are also valuable opportunities to claim GST credits on your transaction costs, so it’s important to retain all your paperwork in order to satisfy the ATO when tax time rolls around.
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Your SMSF: Wind it up or pass it on?

Team Maddern
Now that new legislation allows a maximum of six members in an SMSF, some fund trustees may be wondering if this could be an easy way to ensure a smooth transfer of their super to the next generation. The simple answer is yes, but before you start adding your children and their spouses to your fund, it’s essential to develop a detailed SMSF succession plan to head off any potential problems.
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Aged care payment options

Team Maddern
When it comes time to investigate residential aged care for yourself, your partner, parent or relative, the search for a facility and how to pay for it can seem daunting. The system is complex, and decisions are often made in the midst of a health crisis.
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Frankly Speaking: Tax benefits of shares

Team Maddern
Australian shares are popular investments with self-funded retirees and anyone who depends on income from their investments, due in part to the favourable tax treatment of franked dividends. After falling off in the early days of the COVID pandemic, share prices and dividends bounced back strongly in the year to June 2021. Investors who depend on income from their shares also have more certainty now that the Labor Party has dropped its opposition to cash refunds of excess franking credits, a policy that attracted fierce resistance from retirees at the last federal election.
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Future proofing your career with professional development

Team Maddern
“The only thing that is constant is change” – so said the ancient Greek philosopher Heraclitus and it continues to ring true today. Industries are changing, continuing to evolve in response to challenges (such as the COVID-19 pandemic), technological disruptors and customer expectations. As a result, there is a greater need for the workforce to continue to adapt and develop. We need to be agile to stay on top of these changes, continue developing and learning, which will work towards future proofing our careers. While some industries have formal professional development programs, there are many ways to foster your own development for those who don’t have formal pathways. Here is how you can take the lead to future proof your career.
Tax Alert - September 2021

Tax Alert September 2021

Team Maddern
Although smaller businesses are now enjoying a lower corporate tax rate, their quarterly super bills have gone up, following the latest indexed rise in the Super Guarantee rate. Here’s a roundup of some of the other key developments when it comes to the world of tax.
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To lease or buy a business asset? That’s the question

Team Maddern
With business conditions picking up in Australia, many business owners are thinking about the equipment they will need to evolve in the years ahead.
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Claiming small business CGT concessions

Team Maddern
The Government is continuing to tighten the eligibility rules for claiming tax concessions relating to small business capital gains tax (CGT) obligations. If you qualify, these concessions can have a big impact on how much of the profit from the sale of a business asset you get to keep, and how much goes to the tax man.
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A trusted investment vehicle

Team Maddern
Family trusts are a popular and effective investment structure to manage and protect your family’s fortune, but you don’t have to be worth a fortune to benefit from having one. Despite their appeal, they are not for everyone. Indeed, it is suggested that if your assets are less than $300,000, and that is not counting your super, then it may well not be worth your while. But for those with sufficient assets, a family trust can be an effective way to protect your family’s assets and limit your tax liability at the same time. So how do they work?