1. 2019 contribution limits and rules Concessional Contributions (tax deductible) The concessional contributions cap is $25,000 per year for all taxpayers. Since 2017 both employees and self-employed taxpayers can claim a tax deduction on personal contributions up to $25,000. To claim a tax deduction for your contribution you will need to provide a ‘tax deduction…
Have you ever felt like you’re just not getting ahead financially, and that even when your income increases you seem to be on a treadmill of spending every cent you earn and sometimes even more? Often, when I meet clients for the first time, and ask them how much they are spending and how much…
With private school fees reaching tens of thousands in the large capital cities, many families are keen to look at ways to provide for their kids’ education. There are a range of strategies of different shapes and sizes when it comes to funding the expense of school fees. Here are 5 of the best to…
Active management The active management style of investing will try to beat the returns of the index to which it relates – known as its benchmark. The index contains the companies whose shares are being bought and sold daily by the fund. All equities belong to at least one index depending on the location of…
There is a number of changes to the 2017-18 Self-managed super fund annual return (SAR) thanks to the super changes which came into effect on 1 July 2017. Transition to retirement income stream (TRIS) account The ATO has included a new label for the number of TRIS accounts an SMSF member has in accumulation phase.…
With the end of the financial year fast approaching, preparing ahead will help to take off the pressure of running your business and organising your tax affairs this tax season. Business owners can benefit from gathering and sorting their records now, including cash, EFTPOS, bank statements, credit or debit card transactions that relate to sales…
Navigating your team through difficult times can be a challenge. When things continuously go wrong, and their motivation is at an all-time low, you will need to use your best leadership skills to guide them through. Consider these three tips on how to motivate your staff when a crisis hits your business. Establish trust Be…
The First Home Super Saver (FHSS) is a scheme that enables Australians to save for their first home inside their superannuation fund. The plan allows for faster saving with the before tax (concessional) treatment within super. The 2017-18 Budget allowed individuals to make voluntary concessional and non-concessional payments into their super to save for their…
The Government is widening the scope of Division 7A to include unpaid present entitlements from 1 July 2019. This will apply where a related private company is entitled to a share of trust income as a beneficiary but has not been paid that amount (unpaid present entitlement). Division 7A is an integrity rule that requires…
A content calendar is a handy tool you can use to organise and bring purpose to your digital marketing strategy. It allows you to visualise your strategy in weekly, monthly or yearly timelines, and plan content release around important dates and events that arise in your relative industry. A calendar can save you time and…