The power of an attorney
Protecting your interests A power of attorney is a legal document that allows you to nominate someone you trust to make financial decisions on your behalf if you are unable to do so. A popular misconception is that a person’s partner can make financial decisions for them and manage their assets. However, unless a formal […]
GST withholding measures
GST withholding measures now law Legislation passed to “clamp down” on GST evasion in property development sector. From 1 July 2018, purchasers of new residential premises and new residential subdivisions will generally be required to withhold the GST on the purchase price at settlement and pay it directly to the ATO. Property developers will also […]
Key points from Budget 2018
How will the Budget affect you? This year’s Federal Budget is an ‘election budget’ with tax cuts for all Australians that will be funded by the Government’s higher than expected revenue. All-in-all, changes to super were fairly limited in the Budget, with the Government focused on preventing the erosion of super funds with small balances. […]
2018/19 Federal Budget
2018 Federal Budget Update Quick links Changes affecting business taxpayers Superannuation related changes Changes affecting companies Other changes Personal income tax changes Personal income tax plan The Government will introduce a seven-year, three-step, Personal Income Tax Plan, as follows: Step 1: Targeted tax relief to low and middle income earners The Government will introduce the […]
Downsizer contributions
No need to actually ‘downsize’ for ‘downsizer contributions’ Measure announced in 2017/18 Federal Budget aims to provide incentive for older Australians to ‘downsize’ their home. From 1 July 2018, individuals aged 65 or over may use the proceeds from the sale of an eligible dwelling that was their main residence to make superannuation contributions (referred to […]
Super opportunity for first home buyers and downsizers
You may be able to use your super to help make the most of your money Whether you’re buying your first home or you’re ready to downsize, these two new schemes support the Government’s goal of reducing pressure on housing affordability in Australia. First home buyers The ‘First home buyer super saver scheme’ allows you […]
Fair’s fair for blended families
A blended family can have a huge impact on your finances Whether it’s buying a home with your new partner or ongoing child support. But, one of the most important areas that is often overlooked, is the impact of a newly formed family structure on your estate plan. A fair solution means your wishes are […]
Making the most of managed funds
When people consider investing, many think about buying a house or shares. However, you may be better off pooling your money and using a managed fund to achieve your financial goals. Pooling power If you simply use your own money to invest you are limited in how broadly you can spread your investment. For instance, […]
