The Coronavirus is wreaking havoc globally at a frightening rate with stock markets experiencing unprecedented volatility. So when is a good time to buy shares in these unpredictable, uncertain and volatile times? The best time to buy shares is when the coronavirus and stock market panic has peaked. This hasn’t happened yet – the curve […]
Category Archives: Articles
Given the current economic climate, coupled with the Coronavirus and the fact that many of us have very large mortgages, more and more people are wondering whether they can access their superannuation. Many people are concerned (if for example they are retrenched or forced to take an extended period of time off work without pay), […]
Is now the time to get into the stock market or the time to get out? Before answering that question you should consider your short, medium and long term goals. Do you need cash for your living expenses over the next 12 months? If you do need cash over the next 12 months but not […]
Is now the time to invest in the stock market or to get out? The short answer to this question is, it depends on your age, your goals and your objectives. If your goals are very short term such as saving for a deposit for a home, or looking to buy a car or saving […]
The most frequently asked questions this time of year pertains to Christmas parties. Specifically, are they tax deductible and are they subject to Fringe Benefit Tax (FBT). Let’s address Fringe Benefit Tax (FBT) first. The costs associated with Christmas parties held off site i.e. at a restaurant, will be subject to FBT unless the benefits […]
Do you have a SMSF? Have you lodged your 2019 SMSF Annual Return? Have you applied for an extension of time? If you have a SMSF and you have neither lodged your 2019 SMSF Annual Return nor successfully applied for an extension of time then your SMSF ATO status may be changed from ‘Registered’ to […]
Do you have parents or grandparents over the age of 65? If so, you need to be aware that over 10% of this category are subject to ‘elder financial abuse’. Elder financial abuse is the improper use of money or assets of an elder person. Commonly it includes such behaviours as using their finances without […]
Many of us have difficulty understanding how we can be financially responsible for a debt or liability through no fault of our own. A common example is where we act as guarantor for someone for, say, a car loan (for example, your son), and your son cannot make the repayments. If the car is repossessed, […]
From my experience as a tax accountant, financial planner and a parent, I have had the opportunity to review many clients’ personal financial balance sheets, tax returns and personal net wealth. Below are five financial planning tips that I believe that we should be teaching our children. But before I delve onto those five tips […]
Do you earn income from overseas investments? The Australian Taxation Office is targeting Australian taxpayers who are not declaring their earnings from overseas investments. Generally speaking, an Australian resident taxpayer is taxed on his or her worldwide income, regardless whether that same income is taxed overseas. Typically foreign income includes income earned on overseas investments, […]