As the character of Darryl Kerrigan in The Castle said, “it’s not a house. It’s a home,” and the Australian Taxation Office’s (ATO)
interpretation of a main residence is not fundamentally different.
A home is generally considered to be your main residence if:
Family home tax free? Get in touch.
Retirement is a period of life that most of us look forward to. But it can also be a challenging lifestyle adjustment, particularly if you’re someone who’s used to keeping busy.
The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities.
The Mornington Peninsula has no active coronavirus cases and some residents live more than 100km from Melbourne. So why is the region going back into lockdown?
As a business owner, there’s one key thing you need to totally focus on now – keeping your business alive during these difficult times. It’s vital that you build a cash 'war chest' which will allow you keep trading through the coming difficult months. Also, we want to help you to protect the health of your employees and customers / clients.
A financial plan is a powerful thing, but it’s most effective when it’s supported by a solid insurance strategy.
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Minimum wage increases by 1.75% plus changes to Paid Parental Leave for the self employed.
Will the Prime Minister’s targeted $250 million package of funding to support cultural and creative projects and initiatives save the industry?
Two major Australian Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package.
Up against over 580 nominations and 275 certified finalists, Brandon Tilley, accountant at Mornington accounting and business advisory firm, SMART Business Solutions, won the coveted Rising Star Of The Year Award as one of only 35 award winners.
So, you’re one year out from retirement - congratulations! Here are five steps you can take now to ensure you’re ready.
As goals-based advisers, we start off with helping you articulate what’s important to you to develop smart financial strategies to make it all possible.
A Business Recovery Planning session requires you to reconsider all aspects of your business to ensure its best chance of recovery. We'll work with you to develop a concise Business Recovery Plan and clarify the future direction of your business.
News headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail.
Important need-to-know changes for Australian business owners as at 1st July 2020.
The ATO is looking carefully at businesses that appear to have made adjustments to their circumstances to meet the JobKeeper eligibility requirements where, if those adjustments had not been made, the entity would have been ineligible or had lower JobKeeper payments.
This has probably been the most difficult year ever for business owners due to the impact of COVID-19. As a business owner, there are many obligations that you need to consider and action just before and after 30 June.
Success in generating long-term wealth has a lot to do with awareness of the tricks money can play on your mind. How many of these do you recognise?
For many people, super is one of the best ways to grow your wealth, as it provides significant tax concessions to help you save for retirement.
If you’re looking to grow and protect your retirement wealth, there are some important lessons you can learn from the investment strategy rules of super funds.
There are many types of investment vehicles to choose from, with managed funds one of the most popular choices in Australia. Here we help you work out which combination is right for you.
Insuring your car, home or other possessions makes sense. So why do so few of us insure ourselves? If illness or injury stopped you from working for an extended period, could you keep paying your bills?
Whenever there is a change to your financial situation, a review of your financial plan is necessary – even more so when a complicated matter like splitting superannuation is involved.
As COVID-19 struck, Australian businesses had to rapidly evolve and implement new ways of working with very little warning or preparation. Whilst many companies have successfully adjusted to their 'new normal', it's also time to consider what the future holds for employers.
Our payroll refresher webinar will cover an overview of Xero’s payroll function. We’ll touch on new features, tips and tricks, auto superannuation, and finish with a demonstration of finalising and submitting Single Touch Payroll (STP) reporting at year-end.
April was an interesting month for financial markets. Coronavirus-related restrictions remained in place globally and the economic growth outlook remained dire.
An effective business planning process gets to the heart and soul of your business.
This session will require you to take time out from day to day activities in the business to focus on the business. Together we’ll review
your past performance and clarify your future direction.
Moratorium on evictions and rent relief
Estate planning involves much more than having an up-to-date Will. It is important to ensure that your assets are distributed in the most effective manner and without adverse tax consequences for your beneficiaries.
Self-managed superannuation funds (SMSFs) are a popular option for investors seeking greater control over their retirement savings.
Brandon has recorded a video on how to process JobKeeper in Xero. Just minutes after he finished, Xero updated further to include a basic last month turnover calculator too!
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.
