SMSFs were explicitly excluded from the Banking Royal Commission terms of reference, but there are still implications for the sector. I have outlined a summary and some comments on some of the key recommendations below. Recommendation 2.1 – Annual renewal and payment Ongoing fee arrangements must be renewed annually by the client in writing outlining… [Read More]
The date 20 September 1985 will be forever enshrined in our tax legislation – this is the date that Hawke-Keating government, introduced Capital Gains Tax (CGT). The significance comes from the fact that assets owned prior to this date were carved out and made exempt from CGT. This is otherwise known as grandfathering and is… [Read More]
myGov is a simple and secure way to access a range of Government services online with one username and one password, all from one location. Once you have created your myGov account, you can choose to link online accounts including Medicare, Centrelink, Child Support and the Australian Taxation Office (ATO). Recently we have had a… [Read More]
In this video, I discuss the two major issues behind the recent share market volatility, as well as risks behind the downturn in the Australian property market.
With the end of the financial year fast approaching, we have created a short list of 6 tips to help you get your finances in order and save tax. If you wait until after 30 June it will be too late! 1. Get deductions ready for tax time You can claim a tax deduction for… [Read More]
Simplicity is not easy to achieve. In fact, I personally find it very difficult and have had to work really hard at it. When things are complex it’s easy to ignore them, and put them into the “too hard basket”. This often happens to our own detriment as things are not prioritised based on importance,… [Read More]