How will the changes to Superannuation Guarantee (SG) affect you
From 1st July 2022, two important Super Guarantee (SG) changes will apply: the rate of SG is increasing from 10% to 10.5% the $450 per month eligibility threshold for when SG is paid will be removed. What does this means…
Rental property repairs, maintenance, and capital expenditure
Repairs and Maintenance The cost of repairs and maintenance may be included in full in your tax return in the year you incur them if both: the expense directly relates to wear and tear or other damage that has occurred…
Tax Return Lodgment reminder for Child Care Subsidy and Family Tax Benefit
If you have not lodged your 2021 Individual Tax Return by 30 June 2022, Services Australia may stop your access to your allocated Child Care Subsidy (CCS). This will mean that you will have to pay the full cost of…
Fiducian Economic April 2022 Commentary
The global economy has slowed in recent weeks. The International Monetary Fund (IMF) in its latest report (April), explained that ‘global economic prospects have worsened significantly’, noting that ‘the outlook has deteriorated largely because of Russia’s invasion of Ukraine’. This…
Transition to Retirement
Have you been thinking about retiring or reducing your hours worked that you are currently working. Starting your journey to financial freedom for retirement is never easy but you’re not alone. Fiduciian Financial Services are always here to help guide…
Tax Deduction for COVID-19 tests
From 1st July 2021, if you’re an employee, sole-trader or contractor and you pay for a COVID-19 test out of your own pocket for a work-related purpose, such as to determine whether you can attend or remain at work, you…
Fiducian Economic March 2022 Commentary
ECONOMIC OUTLOOK GLOBAL ECONOMY The global economy has been continuing to recover from its contraction by 3.1% in 2020, its deepest recession since the Second World War. This recession was caused by government restrictions on economic activity imposed to counter…
2022–23 Federal Budget Tax and Superannuation Highlights
The Federal Treasurer, Mr Josh Frydenberg, handed down the 2022–23 Federal Budget at 7:30pm (AEDT) on 29 March 2022. In an economy emerging from the pandemic, the Treasurer has confirmed an unemployment rate of 4% and an expected budget deficit…
Investing for the Long Term
It is well known that investing in shares or equities can help build your wealth over time. However, sometimes it can seem quite daunting, especially for new investors. Like any investment, there is risk involved. So be clear about your…
Financial Advice for Women
Why Financial Planning just for Women? Women don’t share the same kind of financial experience that men do. So why should they receive the same financial advice? Women also have lifestyle and financial goals to achieve such as wanting to…