Downsize your home, upsize your super!
Over 65? Thinking of selling your home? Since 1st July 2018 you may be eligible to contribute up to $300,000 ($600,000 for a couple) from the proceeds of the sale of your home to your superannuation fund.Read More
How to Turbo boost your Retirement Savings
In this article we take a look at the issues that impact on super balances and detail how salary sacrificing works. We go on to look at a case study to explain the tax and contribution benefits.
Don’t wait until your 60s to see a Financial Adviser
Ask most people in their 30’s who their financial planner is, and the typical response might be huh? Most younger people have the perception that financial advisers are for older people with plenty of money to invest.
Whilst it’s true that people nearing or in retirement will benefit from sound advice. so will younger people. With the benefit of having time on their side, and with some help from an adviser, a 30-something can easily create a wealth formation plan that can provide a substantial payoff in the future.
A Tale of Two Retirements
John and Jane Jones have worked hard their whole lives, paid their taxes and, now they have retired, they feel they are entitled to a full age pension.
A lifetime of super – and it’s not just about retirement!
Life is for living, not retiring, but there may come a time in your life when you either want to change what you’ve been doing and stop working completely, or take a long break and work out what’s next.
No More Letting Go of The Past
In superannuation, letting go of the past can be a bad thing. The Government has rightly moved to stop it, with another fantastic super change coming into effect from the 1st July 2019.
At Last Your Past Can Catch Up With You
Another fantastic super change came into effect from the 1st July 2019.
Save on Tax by Thinking About Your Super in a New Way
Now that it’s time to put in your tax return for 2018-19, you’re probably looking at all the usual deductions to claim: bodycorp, rates, water, training, uniforms. However, one of the most overlooked deductions you can make is on after-tax super contributions. Not only does it reduce your tax burden in the present, it sets you up for a more comfortable life in the future.
2019 Small Business Tax Tips
1. Business Travel
- You can claim airfares, train or taxi fares.
- Accommodation costs and meal expenses for overnight business travel.
2019 Individual Tax Tips
1. From 1 July 2018 new tax rates
| $0 to $18,200 | No tax |
| $18,201 to $37,000 | 19c |
| $37,001 to $90,000 | 32.5c |
| $90,000 to $180,000 | 37c |
| $180,001 > | 45c |