As the saying goes buy in gloom and sell in a boom. On that note more and more 30 – 40 year olds are considering managing their own superannuation with the view to buying a property or blue chip shares and holding onto those assets for the next 20 or 30 years. The financial news […]
Did you know that over the past decade the cost of private school education has increased by 61%. This compares to wage growth of only 34% over the same period.1 The ASG Planning and Education Index has metropolitan New South Wales as the most expensive region for private school education. The ASG website projects that […]
Do you have a SMSF? Did you know? the average asset balance of a SMSF, per member, is $652,000. the majority of contributions to a SMSF were by the member not the employer. Member contributions were 5 times more than employer contributions. 84% of SMSF members are over age 45. only 7% of SMSF’s have […]
Working from home: What can I claim? Everyone wants more tax deductions, particularly those tax deductions that do not incur an additional cost. That is, you will incur this cost regardless whether the expense is tax deductible or not. For example, you own a motor vehicle you bought the car, you paid the rego insurance […]
Tax deductions and Christmas parties If you are the owner of a small business there is a high probability that you will be in the process of organising your work Christmas party. The purpose of this article is to highlight what is tax deductible, what’s not tax deductible, what is subject to Fringe Benefits Tax […]
Shares – Buy, Sell or Hold Over the past twelve months the ASX 200 has declined from its high of 6373 to its current level of 5750 (at the time of writing) or 9.8%. The Dow Jones has declined over the past twelve months from its high of 26,951 to its current level of 25,286 […]
[et_pb_section admin_label=”section”] [et_pb_row admin_label=”row”] [et_pb_column type=”4_4″] [et_pb_text admin_label=”Text”] Locate your lost super The Government hopes to reunite more people with their lost super by requiring super funds to transfer inactive accounts (where contributions have not been received for 13 months) with a balance below $6,000 to the Australian Taxation Office (ATO). The ATO will automatically […]
One in four Australian families find money a source of conflict in their relationship. – St George bank survey This research also found that 40% of respondents believing the reason for the conflict was due to their partner’s overspending. In my experience one partner may be paying more of the family bills than the other, […]
Are you or your parents over age 65? Are you aware of the tax incentive for over 65 year olds to downsize their home? What is the downsize contribution strategy? This strategy as the name suggests involves selling your home, purchasing another more modest residence and contributing the surplus funds up to $300,000 per individual member […]
Periodically check you have received your compulsory superannuation Generally if you are an employee you are entitled to receive superannuation contributions from your employer. The minimum your employer must contribute is 9.5% of your gross wage. This payment must go into a complying superannuation fund account. In most cases you can choose your own superannuation […]