The Federal Treasurer, Dr Jim Chalmers, handed down the 2023–24 Federal Budget at 7:30 pm (AEST) on 9 May 2023. The Budget forecasts the underlying cash balance to be in surplus by $4.2 billion in 2022–23, the first surplus since…
It is important to remember that whenever claiming business expenses in your tax return as a deduction, you must have the records to substantiate your claims. There must also be records as to how you worked out the business use…
Identity theft effects thousands of Australians every year. Stolen information is used by criminals to commit identity crimes. When this occurs, victims are left with a bad credit rating which can then impact their ability to get a loan, run…
We believe advisers are never more important than during periods of significant change. As the market transitioned from growth to value, change was everywhere, making the need for advice and reassurance with clients greater than ever. Over the past two…
Two Federal Budgets in one year – what a treat! Nearly a decade after Labor’s last Budget, Jim Chalmers delivered his first Budget with only a few new proposals that may impact the financial planning space. Most of the relevant…
With inflation rising, low bank interest rates and volatile markets, here are a few tips to help you think about what you could do to boost your household’s bottom line. Recheck your eligibility for the Age Pension. If your assets or…
The Australian Taxation Office (ATO) have created some helpful videos to assist you in understanding what your record-keeping obligations are if you own or are investing in a rental property. The videos include the following: An introduction to rental property…
Budgeting and financial planning are both processes designed to boost your financial wellbeing. And while there are striking similarities between the two, there are key differences in how the two work to help you achieve your financial goals. Budgeting As…
Financial planning helps people identify and work towards achieving their financial and lifestyle goals. Essentially, it helps you be more in control of your income, expenses, and investments so you can make informed decisions about managing your money and achieving…
What is a record Records are written evidence of your income or expenses that can either be in paper or electronic form. These records are important documents that are used for doing your tax during the income year. In most…