Budget Update

Budget 2015

The big winners from Joe Hockey’s 2015 Budget are small business owners. With tax cuts on business income and the ability to immediately write-off business assets up to $20,000, small business owners have a lot to be happy about. Other people in the community were hit hard with this Budget, with overall spending cuts to … Continued

Low interest rates

Interest Rates: Where To Next?

With home loan interest rates reaching record lows I am receiving questions from clients on a daily basis about their mortgages and business loans.  Whether you should have a fixed or variable loan, and offset account or a basic mortgage, and the tax impacts of negative gearing are all dependent on your personal circumstances and … Continued

Business Benchmarking and Performance Review

Benchmarking

What is Business Benchmarking? Benchmarking your business will give you insight into how your business is performing relative to your competitors. Through benchmarking you will gain an understanding of your competitive position, your business strengths and weaknesses, and develop a process for making changes to your business which improve profits. The benefits of benchmarking are that … Continued

Difference Between Lump Sum and Pension

Pension v Lump Sums

The Option of Pension or Lump Sum Withdrawals All amounts that you withdraw, no matter if it is pension or lump sum in form, would never be charged any taxes on the condition that you are in the age range of above 60. If you are in the age range of 55 to 59, there … Continued

Difference Between Lump Sum and Pension

Non Concessional Contributions for People Aged Under 65

Non-Concessional Contributions Non concessional contributions are those personal contributions that are deposited into your SMSF’s bank account which have been taken from your after tax income; i.e. you are not claiming a tax deduction for them. Rather than coming from your employer, these contributions are coming from your own personal bank account. Eligibility Anyone under … Continued