Changing rules around tax and superannuation are making quality financial advice more valuable than ever. Due to the shortage of professional planners, advisers are having to do much more work, costing them more money, amid a heavy compliance load following…
STAGE 3 TAX CUTS The Government’s changes to the Stage 3 tax cuts are a key element of the Budget. These changes are intended to broaden the benefit of the original tax cuts, significantly reducing the tax break for wealthier…
Easing cost-of-living pressures Responsible cost-of-living relief and helping Australians keep more of what they earn. This includes to following initiatives: Tax cuts for every Australian taxpayer New power bill relief Support for renters Cheaper medicines Supporting students A fair go…
While your employer’s compulsory Super Guarantee (SG) contributions provide some level of financial security in retirement, if you are relying on this alone, you may risk not having enough super to enjoy your retirement. A solution is to boost your…
Investing is an essential tool for building wealth and securing a strong financial future. Although gaining high returns on investments is the ultimate goal, it’s crucial to understand investment portfolios are not static; they require careful monitoring and periodic rebalancing…
Estate Planning is about formally deciding while you’re still healthy how you want to be looked after if you become ill or die. It’s about protecting your assets to maximize the inheritance for those who you love. It’s about a…
The Medicare levy is an amount you pay in addition to the tax you pay on your taxable income. The levy is 2% of your taxable income and it helps fund some of the costs of Australia’s public health system…
There are steps involved if you change your business structure. For example, when you: Change the composition of your business partnership because your previous partner has retired or passed away or a new partner is admitted. Change your entity type…
Budgeting for retirement is an essential part of ensuring a secure financial future for yourself and your loved ones. Australia has a comprehensive superannuation system which has helped retirees maintain their standard of living. However, it may not be enough…
Maximize Your Financial Potential with Strategic Tax Planning At Roy A McDonald Pty Ltd Accountants, we recognise that effective tax planning is essential for both individuals and businesses seeking to optimize their financial health. Our dedicated team of experienced professionals…