As the end of the 2018/19 financial year end approaches, now is a great time to think about growing your super. Here are some suggestions for streamlining your finances and taking advantage of some tax breaks. Before-tax contributions Also known as concessional contributions, these are contributions that go into your super account before you pay […]
According to the various surveys that have been done, 40% of Australians don’t think that they will have enough money to retire on and all indications are that the number is on the rise. Also, only about 50% of people consult a financial planner about their super even though managing superannuation is not necessarily straight […]
As we approach the end of the financial year, maybe this year, once you have organised your tax return you might then look a bit further ahead. Estate planning is an essential part of your financial wellbeing ensuring that your finances and assets are taken care of as you wish. There are three essential parts […]
Single Touch Payroll is changing the way that employers report their employees’ tax and super information to the ATO. We have written several articles and held seminars on this topic but the changes are so significant and compulsory that we think that it is worth presenting a summary for each employer category. With the introduction […]
It is now a matter of months before all employers will be required to comply with the Single Touch Payroll (STP) provisions. Previously, only “substantial” employers (20 or more employees) were required to comply but from 1 July 2019, all employers will be brought into the system, so if you have tuned out previously – […]
Our Charity inFocus for the second half of 2018 is IJM Australia. As well as other events being held over the six months, a ping pong-a-thon event was hosted at our office to support IJM and the other partnering organisations, as well as raise awareness and fundraise for people affected by slavery across the globe. […]
This may be a topic that can be circulated regularly, but it can never hurt to be overly aware of these types of scams. The ATO has released several alerts regarding phone scammers who impersonate ATO officials to defraud their victims of thousands of dollars. Most often, the scammers will use a scare tactic to […]
There were a number of headlines that caught my eye in “The Age” on 27 November that read as follows: On Cyber Monday, Pope attacks ‘sickness of consumerism’ NAB’s Thorburn says incentives acted as ‘bait’ Sean started by saving $US5 a day – now he’s on the road to becoming a millionaire. Without repeating the […]
As the year comes to a close and we all take time out for the Christmas and holiday season, why not set aside a few hours during your break to have a look at how your finances are tracking. Start by having a look at your assets and liabilities and how they compare now with […]
In our last newsletter there was an article called ‘How does your SMSF compare?’ which included the Class Super June 2018 Benchmark Report. This report provided some interesting comparative data for SMSFs administered on Class Super. In this newsletter I’d like to share the story of one of our SMSF clients who has been with us […]
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