Blog

Negative gearing escapes budget axe Negative gearing – the ability to reduce your taxable income by losses incurred by investments (particularly rental investment properties), will remain available to Australian investors beyond this budget despite recently becoming a hugely controversial issue in recent times. It is no surprise that this tax benefit hasn’t been removed. The 226Read more

What wasn’t in the 2015 budget Last week Treasurer Joe Hockey released the Federal Budget for 2015. There was a lot of commentary regarding all of the different items that were in it. Some of them I found very interesting. I also found some of the things that were not in the budget very interesting afterRead more

WILL, EPA, POA, EPG, AHD – WHAT ARE THEY AND DO I REALLY NEED THEM? What are they and do I really need them? A Will we all know about, although the experts tell us that probably 60% of the population don’t have one!  An Enduring Power of Attorney (EPA), most of us would thinkRead more

While most of our clients understand Death, Total and Permanent Disablement and Income Protection insurance (they speak for themselves!), many people don’t understand what Trauma insurance is, or how it can help them. Trauma insurance (sometimes called Crisis Recovery) covers you for around 40 specified crisis events. It pays a benefit for things like diagnosisRead more

Thinking about renting out spare rooms in your home to help with the mortgage? Have you thought about the tax implications of renting out part of your home ? I have been asked on occasion whether you can claim expenses if you rent out part of your home. It seems that people have heard theRead more

Whilst going concern is concerning, insolvency needs immediate solving – every audit of a company involves a mandatory assessment of the going concern position. Something that is often misunderstood, is that this is a different concept from assessing a company for trading when insolvent. Insolvency is the inability to pay your debts as and whenRead more

It’s 2015 and bookkeeping for your business has grown and changed like most things in life. If you are a seasoned campaigner you will remember the days of digging through shelves of bank statements and invoices trying to reconcile accounts while scratching your head in frustration wondering why things don’t balance. Modern technology has givenRead more

  We all know it’s coming, it’s right around the corner. Your business is booming and time is scarce. You need an audit and you prepare yourself for the overtime that looms ahead. But it doesn’t have to be this way! There are steps you can take to minimise the impact an audit will haveRead more

Budgeting – Now that my kids are old enough to enjoy the pleasures of shopping, I constantly find myself having to remind them that money doesn’t grow on trees. So how do you teach the young ones to grow up appreciating the value of money, and being responsible in their spending?  Teaching your kids howRead more

Something happened recently that made me realise that even the most sensible of people can be beguiled by the promise of big returns. A smart businessman, recently retired, told me excitedly that he was about to embark on an options trading strategy. Now while I am in awe of this person’s business acumen and withRead more