Insurance that you never knew you had
Many working Australians – or Australians who used to work – have insurance of which they are unaware. This can be a huge relief if ever something goes wrong and you cannot work. If you or someone you know has become unable to work, then this article is a must-read. And if you think you might need help with a claim, please make sure you contact us.
Positive Gearing. What is it, how does it happen and do you want it anyway
In property investing positive gearing is where the rent received exceeds the interest on money borrowed to finance the purchase. You often hear about positive gearing – especially from people with a property they want you to buy! But is positive cash flow property actually worth pursuing? The answer depends on what is creating the positive cash flow situation. Sometimes, these factors combine to make positive gearing a wonderful way to reduce risk. But at other times, the factors creating the positive gearing can make an investment very risky indeed. This article shows you how to tell the difference.
Borrowing to pay super contributions
Super contributions are a legitimate expense of a business. As long as the business uses a company structure, it can even borrow to make contributions on behalf of all of the staff – including the company directors. This can create a nice little tax saving that might not otherwise be possible.
Tax deductible debt
Did you know you can pay the same rate of interest to a bank – but that the actual cost to you of that debt will differ depending on whether the interest is deductible or not? This makes managing debts for tax effectiveness one of the most useful things any business owner or investor can do. This is a simple idea but it is important that you get the detail right. So, please read on and don’t hesitate to contact us if you would like to hear how you can take advantage of this simple mathematical truth.
A home for every child
If you already own a home, then the last 20 years have been wonderful. For you. But what about your kids? Around Australia, house prices have risen by more than 500% in the last 20 years. How will your kids be able to buy their home? Here is one simple solution.
Homes are the best investments for you and your kids
A family home is the starting point for any financial plan. It is also a fundamental part of a happy lifestyle – like your home, like your homelife, as they say. Over the next month, we will be showing you ways to get the most out of home ownership – both for yourself and for other people you might be worried about, like your adult kids. This article sets the scene.
Business Owners and Deductible Overseas and Interstate Travel
This article is a must-read for any business owner thinking about travel. Claiming a tax deduction for travel costs can make a huge difference to the effective cost of that travel. The Australian Taxation Office’s general position is that the cost of travel is tax deductible to the extent that the travel relates to the business' purpose of deriving assessable income from an existing business activity. A business can't claim costs for travel related to speculative business activities that you have not yet entered. But travel that relates to work that your business is already doing will usually be fine.
Tax Deductible On-Site Meals for Business Owners
Here is a great little tip to keep in mind for 2017. Most businesses owners work long or irregular hours and usually eat at least one meal a day at work. Provided it uses a company or trust, a business can often claim a tax deduction for meals that are eaten at work. Just make sure you eat your meal on site and do not serve alcohol with the meal.
The power of deductibility
At this time of year, many people are keen to make some sort of donation to charity. Here is a simple but powerful idea that will ensure any donation you give does as much good as possible