Deductions for financial advice fees

Understanding Tax Deductions for Financial Advice Fees When individuals can claim deductions on financial advice fees linked to income generation and tax management. The ATO has provided guidance about when an individual not carrying on an investment business may be entitled to a deduction for fees paid for financial advice.  An individual is entitled to […]

Omnis Financial Planning – Winter 2024 Newsletter

Prepare for Life In this issue – Living your best life in retirement If you’re nearing retirement age, it’s likely you’re wondering if you will have enough saved to give up work and take it easy, particularly as cost-of-living increases hit some of the basic expenses such as energy, insurance, food and health costs… Help […]

Tax incentives for early stage investors

Tax Incentives for Investors in Early Stage Innovation Companies (ESIC) Potential Tax Offsets and Capital Gains Tax Benefits for Qualifying Shareholders The ATO is reminding investors who purchased new shares in a qualifying ‘early stage innovation company’ (‘ESIC’) that they may be eligible for tax incentives.  These tax incentives provide eligible investors who purchase new […]

What laws do SMSFs need to adhere to?

Navigating the Legal Landscape: Responsibilities of SMSF Trustees Understanding the Legislative Framework and Compliance Obligations for Self-Managed Super Funds As a trustee of a self-managed super fund (SMSF) there are responsibilities and rules you must follow. At the most fundamental level, you need to make sure your SMSF is functioning under the relevant laws. As a type of superannuation fund, trustees […]

Losses in crypto investments for SMSFs

Navigating Cryptocurrency Investments in SMSFs Understanding Risks and Safeguards Over the last few income years, the ATO has seen some instances of SMSF trustees losing their crypto asset investments. These losses have been caused by: crypto scams, where trustees were conned into investing their superannuation benefits in a fake crypto exchange; theft, where fraudsters would […]

ATO gives ‘green light’ to lodge

ATO’s Tax Filing Guidance for Simple Affairs Timely Tips for Taxpayers and Key Information on Lodging Income Tax Returns The ATO is giving taxpayers with simple affairs the ‘green light’ to lodge their annual income tax returns. ATO Assistant Commissioner Tim Loh said that most taxpayers with simple affairs will find the information they need […]

CGT on the sales of shares and units

Capital gains tax on the sales of shares or units When you sell or dispose of shares or units you may make a capital gain or capital loss. This will depend on when you bought or acquired the shares or units. If you bought the shares or units: before 20 September 1985 – you are exempt […]

Residential investment property loan data-matching program

ATO to Acquire Residential Investment Property Loan Data for Compliance and Analytical Purposes Scope, Utilisation, and Implications of the ATO’s Data-Matching Initiative for the 2021/22-2025/26 Financial Years The ATO has advised that it will acquire residential investment property loan data from authorised financial institutions for the 2021/22 through to 2025/26 financial years, including: client identification […]

SMSFs investing in crypto assets

ATO advice for SMSFs thinking about investing in crypto assets The ATO recommends that trustees of self-managed super funds (‘SMSFs’) thinking about investing in crypto assets should seek professional advice from a licensed financial adviser. There are organisations that offer trustees help to set up a fund or use their existing fund to invest in […]

Reminder for first-time share investors to declare income

Exchange Traded Funds (‘ETF’) investors With the growth of micro-investment platforms helping new investors enter the market, the ATO has issued a reminder for first-time share and Exchange Traded Funds (‘ETF’) investors. The ATO is concerned that first-time investors often do not understand their tax obligations in relation to reporting capital gains from the sale […]

Justin Flavel

Managing Director

Justin’s experience spans across 20 years in accounting, financial analysis and general business practice.

Although born and bred on the land, Justin’s interest was more in spreadsheets, ledgers, and finance which led him to attend university. In 1992, Justin graduated with a Bachelor of Business majoring in Accounting and Finance. As well as qualifying as a CPA member and becoming a Fellow of the Taxation Institute of Australia, he began gaining practical experience in small and mid-tier accounting practices.

During the late 90s, Justin decided to expand his horizons and travel through Europe. It was during this time that he seized the opportunity to expand his knowledge on the workings of large organisations by taking on roles in multinational corporations.

Today, Justin’s passion is in facilitating businesses to grow and evolve. His focus is on acting in the role of business mentor to help clients develop the full potential of their businesses. He joins clients on their unique journey, and provides the tools and knowledge they need along the way to make the right decisions.

Justin’s aim for his clients parallels his own philosophy and personal journey—focusing on his own career growth and business success while maintaining balance in his life with his wife and three daughters.

Omnis Group Managing Director - Justin Flavel