The end of the financial year is the perfect time to review your insurance arrangements, including your general business insurance and personal life insurance policies. Many believe it’s best to hold life insurance through superannuation, largely because the premiums can be tax-deductible. While this can be a smart strategy sometimes, it’s not always the best […]
Will You Sell Your Business In The Future?
If you own a business, the answer to this question is probably yes – you should be thinking ahead about how to sell it in the most tax-effective way. Naturally, you’ll want to get the best possible price for your business, and ideally, pay the least amount of tax on the sale. In many cases, […]
Is My Loan in the Right Place?
As the end of the financial year approaches, it’s a great time to pause and take stock of your financial situation. For most Australians, the two biggest financial assets are the family home and superannuation. Making minor improvements, such as saving a bit on your home loan interest or increasing your super’s performance, can make […]
Don’t Let Your Parents’ Legacy Become A Costly Tax Bill!
One of the most significant tax burdens in Australia can arise when superannuation death benefits are paid to an adult child. These benefits can be taxed at up to 17% on the capital, and the amount is also included in the recipient’s taxable income. This can affect eligibility for a range of means-tested benefits, such […]
Boosting A Spouse’s Super Before The EOFY
You might want to top up your spouse’s superannuation for plenty of reasons. Maybe you’ve accumulated more super than they have and want to even things out for retirement. Or perhaps your spouse is older and you’re keen to access those funds sooner. Maybe they had to take a career break, and you want to […]
Who Gets The Trust Distributions This Year?
Under tax law, beneficiaries of a trust must be entitled to their share of the trust’s income as at 30 June. It’s a bit of a strange rule – it means you have to decide who gets the income before you even know how much income there will be. That’s why it’s so important to […]
FREE Wealth Through Property Webinar
I want to share something game changing with you… Ever wondered how one family on an average income can accumulate multiple investment properties while their neighbours struggle just to make their mortgage payments? How are some reducing their days they work each week but still looking forward to a prosperous retirement by generating passive income […]
Tax Time 2022
Its time again to get your tax return into the ATO and gain access to your tax refund! What you need to know for your 2022 tax return The low to medium income tax offsets of up to $1080.00 per tax payer introduced in 2019 has been extended for tax payers and will help secure […]
Federal Budget 2022-23 – Key Insights
Australia’s Treasurer, Mr Josh Frydenberg handed down the 2022-23 Federal Budget on Tuesday, 29 March 2022. The Treasurer said a strong economic recovery is well underway, notwithstanding the COVID-19 pandemic and new shocks, such as the recent floods and the Russian invasion of Ukraine. Mr Frydenberg said economic growth forecasts have been revised upwards, driven […]
Federal Budget 2021 Accounting & Tax Insights
Australia’s Treasurer, Mr Josh Frydenberg, handed down the 2021–22 Federal Budget at 7:30 pm (AEST) on 11 May 2021. A stronger than expected economic recovery from the COVID-19 recession has resulted in a budget deficit of $161 billion, $52.7 billion lower than the government’s expected deficit. Given the virus continues to be a threat to […]