The enormous pressure & uncertainty of the global COVID-19 crisis has sparked a financial crisis. Many Australians have had disruption to their income with major industries shutting down. For some, it has also meant job loss. You may be starting…
Small businesses located within the 36 Melbourne suburbs that will soon re-enter Stage 3 coronavirus restrictions will be eligible for one-off grants of $5000 from the state government, with applications due to open in coming days. On Tuesday, Victorian Premier…
1. In order to claim a deduction for a personal contribution, a member must give their notice (or variation) by the following dates, whichever occurs first: a. the day they lodge their income tax return for the income year in…
Did you know that while almost half of all retirees agree that hiring a financial advisor could make a huge difference when it comes to planning their retirement, only 24% actually have one? Compared to the 47% in the US…
If you want to rent out your home, or even a part of it, the rent you charge will be considered as assessable income for your tax return. This means that the money earned will need to be declared just…
The two variants of small business benchmarks that have been developed include: Performance benchmarks – which apply to all different industries across the country. Input benchmarks – which only apply to tradesmen and women undertaking domestic tasks and buying their own resources…
A good Financial Planner will typically offer an initial meeting and this is your opportunity to understand what they could do for you. From learning about their professional experience, right through to exploring their credentials, gauging how well you might…
It’s not uncommon for people of all ages to enlist the help of a Financial Planner; typically to help get their finances in order and prepare themselves for a comfortable future. Most Financial Planners can help in a number of…
It’s not uncommon for business owners to consider modifying the structure of their enterprise; from turning a sole trading service into a limited company, through to merging as a partnership. In these cases, there are correct and incorrect ways to…
In Australia, being a resident for tax purposes doesn’t necessary correspond with any residency permits that you may have, so understanding which bracket you fall into can make a lot of difference. Below is a guide on the varying categories…