Leaving your family home and moving to a residential aged care residence can be a challenging time with many personal and financial decisions needing to be made but early planning and good advice can minimise the impact for you and your family. In this article,...
Your SMSF is a long-term plan. Much can happen during this time including illness, incapacity or death of a member. It is best practice to have contingency plans in place to deal with unexpected events. For example, if a fund member dies, leaving you as the...
With the end of the financial year fast approaching, now is the perfect time to ensure everything is in place for your SMSF before 30 June. The following are some superannuation strategies that you might want to know more about to get the best out...
The ATO’s recent crackdown on tax deduction claims means that good record keeping is more important than ever. Simple up to date records mean that you can claim ALL the tax deductions you’re entitled to so you’ll never pay too much tax! This guide will provide general advice to...
An SMSF friendly budget is the good news coming out of the 2018-19 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes which took effect from 1 July 2017, this Federal Budget will provide much needed stability while looking to...
What do you know of Bitcoin and cryptocurrency? Are you invested? Have you considered your taxation consequences? The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on the...
The end of the financial year is a good time to think about how you could grow your super and start saving for retirement. Here are some options you could consider to help growing your super. Contributions which qualify for a tax deduction: Concessional contributions (which include...
The ATO’s ‘Single Touch Payroll’ (STP) initiative will start on 1 July 2018 for many employers — but businesses and their advisers cannot be complacent until then. The next six months is a crucial time for ‘substantial employers’ (≥ 20 employees) to understand how STP will...
Get the latest investment updates and tax information via Tax Wise. What you need to know about the key changes happening right now in the financial world. Investing in Bitcoin? Know the tax implications. . ATO cracking down on your work-related expenses! . Claiming the cost of repairs...
Managing cash flow is one of the most challenging aspects of running a growing business. Ever wish you could just wave a wand and start getting your late paying customers paying on time? Sadly there is no discovered magic that can help make sure your invoices...