Super Co-Contribution rules for 2014/5 Yes the co-contribution is still here – just! The maximum the government will pay into your super is $500. To receive this you need to make a personal contribution to your superfund before 30 June 2015 of $1,000, and satisfy all the eligibility criteria as follows….. At least 10% of your income… Read More Free Cash from the Government
Hi Just a heads up that the renewals for our ATO audit insurance will be with you in the next day or so. The policy represents great value, covering the first $10,000 of our fees should you be audited (on any past return) in the next year. Those especially at risk of audit are anyone… Read More Tax office audits
It probably does not come as a surprise to you to learn that insurance brokers selling life, TPD, income protection and trauma policies get paid a commission from the company issuing the policy. What can come as a shock is the size of the commission which nowadays is generally 115% of the first years premium. For example if… Read More What your insurance broker doesn’t want you to know
You never know what is going to happen tomorrow. You might be in great shape today, but you can’t take it for granted that everything will be that way forever. That is why you should apply for your insurances when you are as young as possible, before things go wrong. This seems to be in… Read More Insurance Made Simple & Affordable
A few reminders for you all, which will hopefully make you a little more comfortable in retirement … If you are an employer (even if your only employee is yourself), then from the 1st July the SGC has increased to 9.5%. Make sure you therefore increase your employee super amounts in the next pay run,… Read More Super ! Contribution Limits Increased
Budget Summary If you want a factual summary of last nights budget have a look at the attached link which expresses it well. Less political noise than most of the updates around in the press today. Lindsay
The ATO have a new arsenal of weapons for SMSFs that fail to follow the rules. For contraventions that occur after 1 July 2013, the table below shows the (massive) fines applicable PER trustee. That is if you have two individuals as trustees you can double the amounts shown. A huge incentive to get your… Read More New ATO Penalties for SMSFs
From April 2015, it is proposed that non residents (that’s us poms living in sunny Australia) will pay Capital Gains Tax on the sale of UK residential property. So if you own property in the UK, it’s worth reviewing your position. Here is a link to some further info http://www.propertywire.com/news/europe/uk-capital-gains-tax-property-201404048976.html
One of my jobs is to help clients make sensible decisions about money. One of the most common questions I get is, “Should I repay the home loan, invest or put money into super”? And, perhaps unsurprisingly, the answer is always that it depends …. each individual needs to make a decision based on their personal values… Read More Do I pay off the home loan, invest or put more into super?
Were you aware that fixed interest mortgage rates are pretty much at 20 year lows? Look at the purple line on the graph below. So in many ways it makes sense to lock in a fixed rate now. If not for your entire loan, then at least for the part of your home loan that you don’t… Read More To Fix or not to Fix
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