Blog – Maddern Financial Advisers
Be ahead of the news in accounting, private wealth and finance
Spotlight on super performance
17/Oct/2021
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.
GST and the sale of your business property
09/Oct/2021
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.
Your SMSF: Wind it up or pass it on?
05/Oct/2021
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.
Aged care payment options
25/Sep/2021
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.
Frankly Speaking: Tax benefits of shares
18/Sep/2021
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.
Tax Alert September 2021
08/Sep/2021
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.
To lease or buy a business asset? That’s the question
28/Aug/2021
With business conditions picking up in Australia, many business owners are thinking about the equipment they will need to evolve in the years ahead.
A trusted investment vehicle
14/Aug/2021
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?
What if I exceed my super contribution caps?
07/Aug/2021
Making additional personal contributions to superannuation is a great way to boost your retirement savings in a tax-effective way. But there are strict caps or limits on the amount you can contribute each year and stiff tax penalties for exceeding the limits.
Achieving success through habits
25/Jul/2021
The new financial year offers an opportunity for taking an ‘out with the old, in the new’ approach, making a fresh start in relation to your financial affairs, it’s also a good opportunity to re-examine other aspects of your life.