When you retire, your superannuation is likely to become an
important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know, there are also
some excellent tax benefits you can take advantage of right now – just by making your own voluntary superannuation contributions?
Generally, money invested in super is taxed at a lower rate than your personal income tax rate.
Please contact us ASAP if you would like to discuss saving tax with super contributions. Timing of your contributions is critical to get right to entitle you to a tax deduction in the 2023 year.
In the past 12 months we have seen record numbers taking out fixed-rate home loans. Particularly during COVID-19 times, it's worth considering what might happen with interest rates in the future and whether that means you too should think about a fixed-rate home loan.
The RBA has made it known that interest rates are likely to stay low for a while yet; however, there is increasing evidence to suggest that they will need to rise sooner rather than later.
There are a few changes earmarked for superannuation commencing 1 July 2021. These changes will impact both employers and employees. Read the details here to know what's expected.
Whether you’re a first-time home buyer looking to find your feet or a refinancer looking for certainty, there are clearly several factors to consider when shopping for a home loan.
Buying a residential property versus purchasing an investment property involves entirely different considerations. Here are the vital criteria to be on look-out for when selecting the right home loan for your investment property purchase.
A mortgage offset account is among the top home loan features available. And using one correctly can significantly impact your monthly repayments and how much you end up paying for your loan.
If you have a home loan, there are many reasons you may consider refinancing. That could include wanting to borrow more, access different home loan features or simply to get a better interest rate. We explore the more common reasons for refinancing, including a few you may not have thought of.
There are several reasons motivating homeowners to refinance. It could be to achieve a lower interest rate or move from a fixed rate to a variable rate loan or vice-versa. If you’re thinking about switching loans, you need to consider the costs of any penalties – if relevant – versus any savings you stand to make.
Borrowing capacity is the amount of money a lender or mortgage broker is willing to extend to you to purchase a property. It is also a measure of your ability to make ongoing loan repayments.
It would seem SMSF loans have become an increasingly popular way to access the capital required to get a foothold on the property ladder.
Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.
We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members). We’ve set out some of the common questions and answers.
The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.
When an accountant talks about Tax Planning what do they actually mean? As part of our tax advisory service we always offer strategic tax advisory, but it's important to note there are a lot of things that accountants cannot implement after June 30.
Small brewers and distillers will benefit from $255 million in tax relief to support more jobs and investment as part of the 2021-22 Budget.
The rollout of Covid vaccines remained the key focus worldwide. More than 30% of adults in the US have now received at least one jab, for example, and new infections are down by around 80% since the peak in January.
Here’s a guide to the strategies you can use to minimise your business tax.
Now's the time to review what strategies you can use to minimise your tax before 30 June 2022.
Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.
Builders, electricians, plumbers, architects, real estate agents, security guards and other workers who hold an occupational licence in their home state or territory will soon be automatically deemed to have the necessary licence in other states.
What’s the magic amount you need in your super account to retire comfortably?
Rhino 4x4 directors had been previously working with another accountant using MYOB, but they just didn’t have the commercial knowledge that they needed nor the visibility into the numbers. Enter Shannon Smit and the team from Smart Business Solutions to take Rhino 4x4 to the next level.
Having an Estate Briefing Paper prepared by strategic tax advisors means that we can guide the structure of your Estate Plan to ensure your assets will be managed and transferred to your beneficiaries in the most financially efficient and tax effective way.
Australian inflation recorded at 0.9% in the 2020 calendar year, nearly double what the Reserve Bank of Australia forecasted in November’s Statement on Monetary Policy.
The tax impacts you need to know with divorce and relationship breakdowns including some of the areas that may impact you and where you may need assistance for your SMSF, Trusts and Estate Planning.
In the 2020-21 Federal Budget, the Government announced the introduction of a new JobMaker Hiring Credit to stimulate job
creation. This webinar helps you understand your eligibility for JobMaker credits so you can take appropriate steps to avoid missing
out on payments from the ATO.
With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to normal. With Australia's desire to ‘get on with things,' sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.
As the holiday season winds up, it’s easy to be distracted from your financial goals. But this is actually the perfect time to put a few simple plans in place for a positive start to the new year.
The US election had earlier dominated attention. Donald Trump’s reluctance to concede diverted attention from possible policy changes under
the new Biden administration, but this will likely become an increasing focus for investors in the months ahead.
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2021-22 Budget introduced a measure that allows businesses to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change.
You've got a big block with big plans to subdivide in order to make big bucks. But do you know the ins-and-outs of property development from a TAX perspective? Before you jump in and commit to anything, it is important to understand the tax liabilities that might arise from your projects that will affect your overall profitability.
The idea of insuring against loss of income is one that has clear value. The idea of insuring against loss of income is one that has clear value. Yet many neglect to insure their most valuable asset. Income protection could be the answer – so how does it work?
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.
.jpg)
.jpg){kind=tracking}
