Protecting generational wealth
When planning to pass your assets onto your descendants, there are many things to consider. One of the most common questions people ask is: How do we protect our wealth so it ends up where we want it to go?…
Making money from your online activities? It could be income
Do you post make-up tutorials to social media, write a blog or stream gaming for others to see? Then you are a content creator. If you are making money from your online content then you will have income to declare…
Do you have a holiday home?
Depending on what you do with your holiday home there can be deductions and tax implications. Holiday home – not rented out If you own a holiday home and don’t rent it out, you don’t include anything in your tax…
How to plan and save for the dream family holiday
As Benjamin Franklin famously stated, “By failing to prepare, you are preparing to fail”, and this statement is never more valid than when your sights are set on a family holiday. After years of travel restrictions, the thought of taking…
Secure your future with a financial plan
There is no doubt the cost of living has increased to a point whereby most of us need to be aware of our finances. Simply logging on to your banking app and knowing the approximate value of any investments has…
Working from home deduction changes for 2022-2023
For the 2022-23 income year onward there are changes to the record keeping requirements and calculating working from home deductions. There are 2 methods to calculate working from home deductions: Revised fixed rate method Actual cost method The revised fixed…
Millennials are the winners in ‘The Great Wealth Transfer’
According to the 2021/22 edition of The Boomer Guide, Baby Boomers are spending their wealth more than any other generation. A recent study by the Productivity Commission has revealed Baby Boomers will pass on a whopping $224 billion each year…
Growing your Super
By growing your superannuation you can take steps to make a positive difference to your lifestyle in retirement. If you are, or have been employed, you should make the most of employer’s contributions by: Checking that your employer’s super guarantee…
3 money myths we don’t need anymore
There’s no denying our first financial lessons come from our immediate family or the people closest to us. However, the money lessons being instilled in us are rarely sound financial advice which will work in our favour. Here are some…
Top tips for small businesses
The last couple of years for business owners have provided for some unprecedented changes. Victorian small businesses have had to adapt to new technology and to seek opportunities to improve business practices and customer relationships. As we start moving into…