Federal Treasurer Dr Jim Chalmers delivered the latest Federal Budget from Parliament House in Canberra on Tuesday 9 May 2023. Below is a summary of the key insights into this major announcement which have been put together by Certified Practicing…
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…
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…
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…
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…
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…
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…
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…
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…
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…