As we well know, without a plan, the financial goals we aspire to probably won’t materialise. With no structure in place, 10 years down the track, you may feel no better off than you are now, and wonder where your money went. However, sometimes knowing where to start is a stumbling block. So to start… Read More 30 Days to Financial Wellness
Believe it or not there is still the possibility to get some free money from the government. The superannuation co-contribution is hanging on in there for a little longer so make use of it if you can and grab up to $500 of free cash. Even better, why not pop some $ into the kids’… Read More Tax Tip 2019 : More Free Money from the Government
Morning, below is a summary of the changes to the budget relating to super. This being the area of most change. Remember these changes are not yet legislated and mostly will not come into force until 1 July 2017. None of the changes suggest you should remove any money from super. It will continue to… Read More Budget Update 2016 – 7 Main Points
There has been much in the press recently about negatively geared investment properties and whether the tax concessions will be reined in. However we are forgetting that you can negatively gear any investment, it doesn’t have to be property, and no one is talking about changing those rules. You can access the benefits of gearing… Read More Lets Negatively Gear Something Else
Update for 2016. Due to changes since the release of this post, please note the following updates; the $150k non concessional cap referred to in the video is now $180k; and the age at which you can start your transition to retirement pension is linked to your date of birth and may be higher than age 55. … Read More Why Super is so Super
Hi So this is one of my favourite strategies for those that want to give their kids something really special & long lasting, and it is so simple. I wish someone had done it for me! First off, did you know that a child of any age can open a superfund – they just need… Read More LOOK AFTER YOUR KIDS IN THEIR RETIREMENT
Sometimes we find that people have, what could delicately be termed as, “forgotten” to declare foreign income. Perhaps they didn’t realise they had to, or they had forgotten they had a flat in the UK, or that if they worked overseas but forgot to take their wife and kids with them they were still resident for Australian tax… Read More Have you forgotten to declare foreign income?
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
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