Blog / financial planning

Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018

The Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018 received royal assent on 21/6/2018. This bill introduces the Personal Income Tax Plan announced in the 2018 Federal Budget. The tax plan will be introduced over a seven year period and involves 3 steps.

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04 Jul 2018

What's new and proposed from July 2018 - TAX

TAX - What's new and proposed from July 2018

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06 Jun 2018

What's new and proposed from July 2018 - Financial Planning

Financial Planning - What's new and proposed from July 2018

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06 Jun 2018

May 2018 Budget - Taxation

This article we look at the proposed changes to the taxation system in the May 2018 Federal Budget.

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09 May 2018

Estate Planning

A Will isn’t always the only way You would have heard the saying: “where there’s a will, there’s a way”. This statement is usually used to encourage people who are losing enthusiasm for a task or goal. But it also reflects the way many people feel about estate planning. They think that so long as you have a Will, you have a way to ensure your wealth is passed correctly to your loved ones. But this is not necessarily the case. The following article will give you more information on Estate Planning & its importance.

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24 May 2017

Making the most of your redundancy

If you are leaving your employer due to redundancy, you have a great opportunity to make a fresh start. Now could be the best time for you to think about a career change, become self-employed or consider retiring if you are close to retirement. But regardless of what your next steps might be, it’s important that you: understand the payments you may receive from your employer and what tax treatments apply consider the financial issues likely to be relevant to your age and career goals, and speak to us to find out how you could manage your redundancy payments effectively.

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24 May 2017

Federal Budget Briefing Paper - Social Security

Federal Budget 2017 Social Security - includes information on the following: Pensioner concession card reinstatement, Increasing pension residence requirements, Working age payment, New mutual obligations, Liquid Assets Waiting Period increased, Energy Assistance Payment, Family Tax Benefit, Child care subsidy

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10 May 2017

Federal Budget Briefing Paper - Taxation

Federal Budget 2017 Taxation - includes information on the following: Medicare Levy Increase, Extending The Immediate Deductibility Threshold For Small Businesses, Major Bank Levy, Changes To Small Business Capital Gains Tax (CGT) Concessions, Additional Capital Gains Tax Discount For Investment In Affordable Housing, Managed Investment Trust (MIT) Investment In Affordable Housing, Residential Property Plant And Equipment Depreciation Deductions, Residential Property Plant And Equipment Depreciation Deductions, Reducing The Corporate Tax Rate, Capital Gains Tax Changes For Non-Residents, Changes To Repayment Of HELP Debt, Annual Levy For Foreign Owned Vacant Residential Properties

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10 May 2017

Cloud Account and an Estate

Using cloud technology is becoming the norm whereby we save our important information in the clouds. Although this is a very convenient tool there could be an issue from an estate point of view.

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29 Mar 2017

UK vote to leave the EU

The UK voting to leave the EU created an unprecedented situation, and there is no verified procedure for the exit from the EU.

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24 Jun 2016

2015-2016 EOFY Tax Tip

As with the end of any financial year, it is important for one to maximise any tax deductions one may be entitled to, but also ensure where possible that the deduction is able to be claimed in the financial year where it has most impact.

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17 Jun 2016

Foreign resident CGT withholding

From 1st July 2016, where a foreign resident disposes of taxable Australian property (this includes land, residential and commercial property, mining/quarrying/prospecting rights, and some indirect interests in these things), the purchaser must withhold 10% of the purchase price and pay that amount to the ATO. Withheld amounts will then be used to offset the foreign residents CGT liability in respect of the disposal.

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17 Jun 2016

FBT changes to entitlement benefits

From 1st April 2016, the concessional treatment of entertainment fringe benefits has been limited.

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17 Jun 2016

Family Payments Budget Announcement 2015

New child care subsidy From 1 July 2017, a new single Child Care Subsidy (CCS) will be introduced. CCS will replace the existing: • Child care benefit and • Child care rebate.   CCS will be payable to families who use an approved child care service for a child who is un

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27 Nov 2015

Pensions, allowances and concession cards - Budget 2015

Pension asset test changes From 1 January 2017, the following changes to the pension asset test have been proposed: • increase the ‘asset free areas’ for both homeowners and non-homeowners • increase the asset test taper from $1.50pf to $3pf per $1,000 of assets ove

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27 Nov 2015

Affording a higher education

School leavers furthering their studies face university costs that leave many with a legacy of debt while others won’t be able to attend uni at all. A fortunate few have parents who planned ahead.  Which best describes your situation?   According to the latest government figure

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27 Nov 2015

How much do I need to retire?

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27 Nov 2015

A simple explanation of how age pension works

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27 Nov 2015

Taxation rates and figures 2014 - 2015

  Income tax rates Resident individuals Income Rate $0 – $18,200 0% $18,201 – $37,000 19% over $18,200

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27 Nov 2015

Net Medical Expenses Tax Offset (NMETO)

The NMETO allows taxpayers to claim a tax offset for out-of pocket medical expenses incurred above a certain threshold. In the 2013–14 Federal Budget it was announced and subsequently legislated that the NMETO would be phased out, with transitional provisions for medical expenses relating to disability aids, attendant care or aged care expenses.

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26 Nov 2015

Business Taxation Budget Announcement 2015

Tax incentives for small business The Government announced a range of tax concessions to assist small business entities. Generally, a business is a small business entity if it has business turnover (aggregated turnover) of less than $2 million.   Company tax cuts A tax cut of 1.5% is

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26 Nov 2015

Personal Taxation Budget Announcement 2015

Employee Share Schemes - further changes to tax treatment The Government will make further amendments to the proposed changes to taxation of Employee Share Schemes (ESS) from 1 July 2016. The aim is to make ESS more accessible for Australian businesses and their employees, especially start-ups

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26 Nov 2015

CGT: The Rules

Although many of us have been faced with paying it at some point, capital gains tax (CGT) remains relatively misunderstood. Below, we consider some definitions and some simple strategies to help you minimise this tax. What is a ‘capital gain’? You make a capital gain (or capital lo

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26 Nov 2015

Tax Rules Do Not Treat All Income Equally

Anyone who has completed their own tax return will know that the tax office treats different types of income differently. Bank interest is recorded in one section, dividends from shares in another, and managed fund distributions somewhere else. And unless you are taking a pension or lump sum fro

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26 Nov 2015

Medicare Levy Increase From 1 July 2014

Medicare Levy has been legislated to increase from 1.5% to 2% from 1 July 2014 to provide funding for Disability Care Australia. Medicare Levy is levied on a person’s taxable income and is payable by all taxpayers with the exception of few low income earners. This

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26 Nov 2015

Term Deposits, Loans & Offset Account

Banking 1 - Term Deposits If you have invested in term deposits recently you may have received a notification from the bank requiring you to give the bank 31 days’ notice if you want to withdraw your money early. The new requirement born from a new reform called the “Basel III Liqu

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26 Nov 2015

The Art Of Debt Recycling

Most of us don’t think twice about recycling our plastics and paper waste to help save the environment, but what about recycling debt? Is that a good way to save money? Debt recycling is the process of replacing mortgage debt, or bad debt, with investment debt, also known as good debt. Thi

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26 Nov 2015

Buying Your Kids A Home - Good Or Bad Idea?

Owning your home has long been considered the Australian dream, but the changing property market is helping to ensure that it remains just that for many young people. Even with the introduction of initiatives such as the First Home Owner Grant and First Home Saver Accounts, housing ownershi

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26 Nov 2015

Tap Into The Amazing Power Of Compounding

When you invest over a period of time, compound interest is your best friend. In effect, it means you are earning interest not just on your own capital, but also on the interest you’ve already earned. Over the long term, this might be phrased as “interest on interest on interest on i

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26 Nov 2015

Be Different Today So You Can Be Different Tomorrow

Every generation thinks life will be different for them – and of course, they’re right - but when it comes to planning for the future, young people have a habit of thinking they have plenty of time. After all, when you’re in your mid-thirties or even early forties, retirement i

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26 Nov 2015

The Changing Shape Of Working Life

For some time, financial and social commentators have been telling us that the shape of working life is changing. There is a loss of skills that comes from workers taking early retirement and if Australia is to remain a growing economy, this must be rectified. The problem is not unique to us as most developed nations are facing the same dilemma. Consider how our working life has transformed over the last 50 or so years and it will be easier to see how there are more changes to come. Normal 0 false false false EN-AU X-NONE X-NONE

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26 Nov 2015

When Can You Afford To Retire?

Start with a ballpark calculation of your retirement needs. One rough rule of thumb is that you can retire comfortably on about 75% of your pre-retirement income. Another is that every $100,000 invested will provide a sustainable $3,500 per annum in income.

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26 Nov 2015

A Time Of Transition

For many people, retirement can be a bit of a shock. After looking forward to days of leisure, suddenly the routine of working life is replaced by time that somehow needs to be filled. Using the transition to retirement rules, people approaching retirement can ease into a new routine, retain flexibility regarding their income, and possibly give their retirement savings a boost.

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26 Nov 2015

What are Listed Investment Companies?

Managed funds are a simple way to start an investment portfolio. You don’t need much money to start and you can build up your investments and spread your money across a range of assets. You rely on the expertise of the fund manager to select assets and decide when to buy and sell them. &n

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10 Nov 2014

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