A closer look at borrowing within your SMSF
Last month we looked at how to borrow and invest in property through your SMSF.Is it possible? Is It worthwhile? What are the challenges…and the benefits? This month we’ll be digging a little deeper and working through some calculations to help you understand how it could work to help build your retirement nest egg.
Is it a good idea to borrow within your SMSF?
Ask anyone over the age of fifty what their best ever investment was, and inevitably they will answer, buying their own home. Their biggest regret? Not buying the house next door at the same time.
So where better to invest your precious retirement savings than in property?
Employee or contractor? There is a difference
I can understand during difficult economic times that business owners search for ways to reduce their costs and outgoings, but when those decisions affect others detrimentally, that’s when I get cranky.
Recently I had a phone call from a client who had been retrenched six months ago. Although this man is very skilled and talented, he has been struggling to find full-time work in his chosen profession.
The tax basics to share investing
With many ‘safe’ investments such as term deposits offering very low interest rates, more people are turning to the share market in pursuit of higher returns.
For new share investors this means understanding not only the risk profile of share investments, but also the different ways in which the returns on shares are taxed.
Why financial advice may be your best investment
It is commonly assumed that seeking financial advice is for the wealthy, and it only helps the rich become richer, yet financial advice can prove useful to anyone who wishes to better their financial future.
Financial advice is like getting a health check-up for your financial situation. Your financial adviser is like your personal trainer, assisting you in achieving your best possible financial health.
Five financial tips to start the new year fresh
As we are heading at full speed towards the silly season (and the opportunity to overspend will no doubt present itself) here are our five tips for getting, and keeping, control of your finances.
Don’t let tax creep up on you
Australia has a progressive income tax system. This simply means that higher income earners pay a greater proportion of their income in tax than low-income earners. It is achieved by applying a different rate of tax to each income band or “bracket”.
5 simple techniques to reduce your tax
His words might have been recorded over 200 years ago, but Benjamin Franklin’s famous uttering “in this world nothing can be said to be certain, except death and taxes” remains as true today as it was in 1789. The one thing that has constantly changed is tax law, and although death is impossible to avoid, with the many options available to us, taxation doesn’t need to inflict too much pain.
What do I need to know before investing in property?
It is no secret that Australians love investing in property. And while it can be an exciting prospect, it is essential to consider the finer details before jumping in, especially any ongoing costs and expenses you’ll have to pay.
How does rising interest affect my property loan?
As you know interest rates are rising to combat inflation. Most property investors are aware that the interest paid on an investment loan is generally tax deductible.
But do you know what your tax saving is from the increased interest paid on your loan?