Helping a business keep on top of their financial affairs has radically changed over recent years. With the help of a proactive accountant, more businesses are switching to cloud based software to help streamline their core processes. Although this has provided significant time and cost savings for businesses, accounting and tax compliance tasks can still …
For many, starting a business is a dream and a step towards financial independence. With making the leap into starting your own enterprise, the decisions made within the business’s inception can have drastic implications down the track including asset protection, capital gains tax (CGT), income tax, estate and succession planning. Here are 5 things you …
As the Federal Election looms, the 2018-19 Federal Budget brings positive news to taxpayers and investors with a promise to return to surplus by 2019-20. The Budget focused on the recovery of taxes from the black economy while introducing a potential $13.4 billion in personal income tax reductions. The below provides a summary of the …
Thousands of Australians head offshore each year to live and work overseas indefinitely, thereby ceasing their Australian ‘tax’ residency. However, there can often be confusion about the tax implications for taxpayers who take advantage of such offshore opportunities. A taxpayer who is a resident for Australian tax purposes is taxed on their Australian sourced and …
There are many reasons why people are attracted to borrow money to invest in bricks and mortar. One of the most common reasons is the ability to offset the cost of owning the property against assessable income – a strategy known as ‘negative gearing’. Negative gearing occurs when the operating costs of a property is …
Below is a recording of a webinar hosted by Wakelin Property Advisory and us on 13 September 2017. Jarrod and I provided an update on what’s been happening in the property market, tax changes and planning, an update on the mortgage market, an analysis of the recent super changes and we answered plenty of questions. …
All the fuss of the 2017-18 Federal Budget was targeted around the big banks, their large profits and the levies which the government intends to impose on them – which we all know will be passed onto the consumer. However, the Budget also included some proposed changes that might impact you personally. This blog provides …
The number one comment that clients tell us is that they want proactive advice from their accountant. Traditionally, seeing your accountant meant visiting the number cruncher at the end of the financial year who gave you historical information, advised how much tax you will get back or pay and provided no real proactive advice. The …
Small businesses are described as the backbone of the Australian economy – making up 96 per cent of the Australian economy, employing over 4.5 million people and producing $330 billion of Australia’s economic output per year. The Government has finally reduced the red tape burden for small businesses, providing certain concessions for those who qualify …
An investment property should be selected based on the likelihood of it generating strong capital growth rather than secondary benefits such as rental yield or negative gearing. However, saying that, this doesn’t mean we shouldn’t maximise the gearing benefits of your current or future investment property to save on tax! So, if you’re looking to …
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