Blog

Essentially the Trust Deed of an SMSF is the life and soul of an SMSF, a bit like a bible in relation to what you can or can’t do. It seems that in today’s world everyone and everything is having “work” done to enhance a multitude of purposes, a nip, tuck or boost here orRead more

It is very important to maintain your records. Everyone knows that and before you switch off, please continue reading. According to the ATO, records must be kept for 5 years after the date of the notice of assessment or date of amended assessment. They must be kept in English and readily accessible when requested. TheseRead more

Nobody likes a tax increase. Just the mention of a tax increase is likely to illicit a negative response from just about everybody, but not absolutely everybody. Politicians don’t seem to mind an increase when it gives them more funds to play with and though taxes always seem to go up, they actually don’t. SometimesRead more

Accounting packages Do you still collect all your receipts in a box and at tax time? Take all your receipts to your accountant to prepare your tax?  If this sounds like you and you’re in business have you considered using an accounting package such as MYOB, Xero etc? Previously you purchased your MYOB package, youRead more

Have you been collecting all your receipts over the year hoping to claim a tax deduction at the end of the financial year only to find that at tax time you can’t claim a deduction for quite a few of them? Well, the trick is to know which receipts to collect and which ones notRead more

Have you studied at university and applied for a HECS-HELP loan to help pay for your tuition fees? How will your HECS-Help loan affect your tax return and how do you make repayments? There have been changes over the last few years and here are 5 things you need to know: 1.  What are they?Read more

It’s the words you never want to hear….”Get your affairs in order”. It usually means you’re sitting in front of your doctor, and they hold bad news in their hand. Or even worse, you might not get any warning. But how many of us really know what that even means? Preparing for the day weRead more

Look your partner in the eye – right now – and tell them you don’t care what conditions they live in. Seriously, look around your house and the life you have most likely built with your partner. Nice furnishings, dream house, great suburb? What were the things that were important when you built this lifeRead more

THE WORLD OF MONEY I felt old the other day. I was talking with a young lady in her early twenties who had never seen the great Aussie film ‘The Castle’… “What do ya call these things again?” “Rissoles, Everyone cooks rissoles darl.” “Yeah, but it’s what you do with them.” I recited the aboveRead more

NEW PRIME MINISTER: NEW TAXES ? Welcome Mr. Turnbull to the leadership position in Australia -He happens to be our 5th Prime Minister in 5 years resulting from yet another leadership spill. Whether you actually welcome Malcolm Turnbull or not is for your own political agenda – but what are his current thoughts and ideasRead more