Self Managed Super Fund
Share investing ideas
Share investing Are you thinking of starting a share portfolio? Or if you aren’t yet, then perhaps you should be. I must say being an accountant, I began to take notice when seeing my clients show me their substantial share portfolios, often commencing them as late as their fifties. Reasons why you would invest in…
Read MoreATO Scam tips
Why it is important to protect your tax file number. Some of you may already be aware how important it is to protect your tax file number (TFN) from getting into the wrong hands. Crooks can use your TFN for TFN fraud, such as present themselves as you to the ATO , do your tax…
Read MoreHow company saves tax explained simply
How to save tax in business using a company Most companies are now taxed at 25% from each $ of profit from 1/7/21 Whereas individual takes rates are higher than this from each dollar over $45000 So businesses can take advantage of the lower individual tax rates by paying themselves individual income from…
Read Morewhat is new for tax 2021
Changes to tax returns 2021 ATO Warning – Copy & Pasting Claims ATO are setting their sights on work related expenses (such as motor vehicle, travel claims, laundry, uniform purchases and business trips). The expectation is that these deductions should reduce for taxpayers who were working from home during COVID 19. However, the ATO…
Read MoreWhy to own investment property in Self manged Super Funds
Something you need to know if you are growing an investment property portfolio. Find out what here… Let say Luigi and Maria Retire with 8 rental properties owned outright Sounds great But if they owns them individually They could still have a high taxable income Lets assume 40k taxable income each So that…
Read MoreBudget 2021
Budget 2021 Updates Next years personal income tax rates had already been announced, they are: We can look forward to more personal income tax cuts in 2025 LMITO retained for 2021-22 – the Government will retain the low and middle income tax offset for the 2021-22 income year. The LMITO provides a reduction in tax…
Read MoreSMSF Update Super contribution caps set to increase
Superannuation Update for 2022 financial year Main changes are: contribution cap is set to increase from $25,000 p.a. to $27,500 pa from 1 July 2021. The non-concessional cap in 2021–22 will see the standard cap increased from $100,000 to $110,000 from this date. In addition, the maximum amount a member who was under 65 at the…
Read MorePlanting the trees of investment to accumulate wealth
The key to creating wealth is Investing Are you interested in accumulating wealth? Whatever your circumstances or age, the key is invest, invest and invest and soon your investments will be strong and continue growing like trees. Here are some quick tips: Whether you are in business or employed are irrespective of your income…
Read MoreUnknown secret as why you should have a smsf
Little known reason why SMSF work Many of you may be aware in the world of Superannuation that the uptake on Self Managed Super Funds (SMSFs) continue to grow in number of funds across Australia. So many of them they are infact 99% of the number of them. That is because there a many but…
Read MoreKeep your Super safe!
The recent incident of fraudulent activities carried out by unfaithful financial advisors has raised the much-needed awareness for protecting your super. These advisors have swindled clients, including friends and family, for millions of dollars through their dodgy schemes. These unethical behaviours have raised serious concerns about safeguarding your super savings. Here are a few…
Read MoreKeep your data protected!
Recently we were informed by one of our clients about their experience in dealing with a scammer proclaiming to be from the ATO. We couldn’t help but wonder if we have exposed ourselves to the dark side of the web? Due to COVID, we now find ourselves spending a lot more time on the…
Read MoreWhen to lodge your tax return by – with your tax agent
When do you have to do tax return by? Today we are explaining when you have to do your tax return by when you have a tax agent. If you have already done your tax return for this year you can listen to this for next year in case you ever need to lodge later…
Read MoreWhat Happens If You Lodge Your Tax Return Late?
Sometimes life throws things in our path that get in the way of important deadlines like our tax returns and we find ourselves on the other side of the due date. Sometimes we deliberately don’t want to submit our tax returns for fear of the tax debt. Whatever the reason for getting behind, penalties can…
Read MoreHow Self Managed Super Funds (SMSF) Can Make Your Retirement Better
In the past, we bought the property as a home and paid it off over lifetime then moved into a smaller home in retirement. You may make $400k, but not enough to live on for the rest of your life. The new way is to buy it as an investment property because it will cost…
Read MoreBudget 2020 summary
Our Budget 2020 announcement summary The Budget was “all about jobs” (including creating new jobs and getting the unemployed back into work again) and getting the economy moving again. Some great news – tax cuts to individual tax rates. Bring forward of the second stage of the personal tax cuts by 2 years to 1…
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