What are the real advantages of a Self-managed Super Fund (SMSF)?

I see a lot of claims in advertising which talk about certain advantages for Self-Managed Super Funds (SMSFs). However, many of the advantages are also available for other forms of Superannuation.  So what are the real advantages?  I’ll…
Building house

Self-managed Super Funds and Related Builders

We recently published a piece about the restrictions on Self-Managed Super Funds (SMSFs) acquiring assets from related parties (see that blog piece here).   The short version is – with very few restrictions, you can’t do it. So –…
Hand holiding Australian money indicating bonus superannuation contributions from the government

Are you eligible for bonus Super from the government?

Have you: Been working part-time? Ceased work this year to start a family? Re-joined the workforce during the year? Been out of work for part of the year? Had other reasons for a limited income this year - below $37,000? Currently,…
hand working out calculations

Self-managed Super Funds and Related Party Acquisitions

Monies held in Self-managed Super Funds (SMSFs) form the largest sector in the superannuation area in Australia, with assets now totalling around $600 billion. In the five years to 2016, the number of SMSFs grew from 440,000 to 577,000. …
House with 'For rent' sign outside indicating a rental property

New depreciation rules proposed for residential property investors

The good news: they only apply to properties purchased after 9 May 2017. The Federal Government has proposed adjustments to depreciation legislation in the 2017 Budget. Under the new rules which are yet to be legislated by Parliament, investors…
2017 Federal Budget

2017-2018 Federal Budget Update

We are here to help our clients achieve the best outcomes with tax, business and money.  To do that we need to stay on top of the changing tax landscape, and adopt careful tax planning strategies.  That includes keeping an eye on the changing…
Tax planning man looking ahead at road

Tax planning starts now

30 June will be here before we know it. Let us help you get the most out of the upcoming weeks. If you’ve left your tax planning until the end of May and early June, then the time remaining to legally reduce your tax is getting very tight. …
Scam emails hacker on computer

Is it a hoax? 8 tips for identifying scam emails

Scammers are getting smarter and smarter and, according to a recent news.com article, Australia is the second most targeted country in the world for email scams, also known as phishing. The email will usually appear to be from a bank, telecommunications…
Superannuation changes July 1

How will the July 1 changes to Superannuation impact you?

A number of changes to the rules governing Superannuation will come into effect on 1 July this year. Let’s take a look at what’s about to happen. The cap on concessional (pre-tax) contributions to your Super will be limited to $25,000…
The relationship of time to money - the 2% rule

Understanding the relationship of time to money, part 3: The 2% Difference

Understanding key principles and turning them into habits will help to put you on the right path to achieving your lifestyle and financial goals. We know that we will do more of something when we understand it. The next key principle is….The…
Financial success seminar

Free Seminar: Eight Habits for Financial Success

  Wednesday 5 April 2017, 6 pm to 7.20 pm   This seminar is for everyone who wants to know how to achieve their financial goals. No tricks or get rich quick promises, just proven results. Some highlights: Understand how…
ATO inspection small business tax compliance

ATO visiting businesses soon

The ATO recently announced that their inspectors will be visiting around 400 small businesses with "ready access to cash" over the coming weeks. This includes businesses such as restaurants, cafes, hair and beauty salons, and building and construction…
Uber driver at night

Uber, Airbnb and the sharing economy: your obligations

Earning additional income - or even your primary income - by driving for Uber, renting out property with Airbnb, performing tasks with Airtasker and other similar organisations - is becoming more and more common. It can be an easy and effective…
property shares investment

Which is the better investment - shares or property?

Almost everyone understands the benefits of investing in property. However, the similarities and benefits of investing in equities compared to property are not so easily understood. With soaring property prices, investors need to explore…

Understanding the relationship of time to money, Part 2 – The Cost of Waiting to Invest

As previously pointed out, the key to successful wealth creation is understanding the relationship of time to money. Human nature dictates that we will do more of something when we understand it. By understanding key principles and turning…
July Calendar 2017 on wood table

The ATO will report businesses with tax debt over $10,000 from 1 July 2017

Does your business have a tax debt of more than $10,000? If so, you should speak with the ATO to make repayment arrangements before 1 July 2017. Under changes announced as part of the 2016-17 Mid-Year Economic and Fiscal Outlook (MYEFO) in…
2017 financial advice planning new year

How to have a really happy (financial) new year

 Do you want to: Have full financial independence; Have the lifestyle you dream about; Pursue your own hobbies and interests? Well, so do most people in Australia – these are the top three dreams for Australians noted in a Financial…
Time_money

Understanding the relationship of time to money, Part 1 - The Rule of 72

One of the keys to successful wealth creation is understanding the relationship of time to money. Whilst a “get rich quick” idea might sound attractive, it is best to view those kinds of ideas as a hobby rather than a serious money-making…
Closed for Christmas

Christmas HR Tips: Leave & Public Holiday Entitlements

As an employer, it's important to be aware of your employees' leave and public holiday entitlements over the Christmas holiday period. Shutdown Periods and Leave Many employers believe that if the business is shutting down over the Christmas…
Christmas party FBT

How can you avoid paying FBT for your work Christmas party?

The holiday season is almost here, and work celebrations and gifts are the flavour of the month.  Many employers want to show their appreciation to their team by hosting a Christmas party and – perhaps – providing some gifts, and then winding…