How to have a Tax friendly Christmas party season
Christmas is a time to unwind and celebrate. However, we’re well aware that one thing that can dampen the festive mood is unexpected tax. So let’s see some of the most responsible ways you can keep the Fringe Benefits Tax grinch at bay and enjoy some fiscally responsible merriment.
Self-education: What can you claim?
The Australian Taxation Office have released a new draft ruling on self-education expenses. Let’s revisit the deductibility of self-education expenses and what you can and can’t claim.
Discovering your financial mindset: The key to unlocking financial success
In the quest for financial stability and success, we often focus on tangible elements like earning more money, saving diligently, or investing wisely.
But have you ever stopped to consider the role your financial mindset plays in achieving your financial goals?
6 steps to a Happy New Financial Year
The new financial year provides an opportunity for a fresh start for your finances. Make this the financial year you get on top of yours… for good!
We’ve broken it down into six bite-sized, manageable steps for you to tackle over six months, because real change takes time!
End of financial year tax tips
The end of the financial year is edging closer. If you haven’t planned how you will maximise your income and save some tax, take note!
The most effective strategies are often the simplest and can be applied before 30 June 2023.
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.