CHECKLIST: REFINANCING YOUR HOME

When it comes to refinancing your home loan, “refinancing” simply means taking out a new loan to pay out your current mortgage. There are a whole range of reasons why you may want to change loan providers some of which include: if your circumstances have changed, or you've had your home loan for a few years then refinancing could offer you the chance to take advantage of more flexible features.

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Belinda Frazer
SMSF TRUSTEES MUST WATCH THEIR RELATED PARTY EXPENSES

The tax laws that penalise uncommercial transactions between SMSFs and related parties are set to get tougher, with an SMSF’s expenses to come under the spotlight. Now more than ever, SMSF trustees should be aware of the potential for these penalties to apply and seek advice before entering any related party transactions.

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Belinda Frazer
CATCHING UP ON SUPERANNUATION CONTRIBUTIONS

The government’s new measure to allow those with less than $500,000 in superannuation to “catch up” on missed superannuation contributions is a great opportunity for anyone who takes time out of work or otherwise has “lumpy” income that means they have a varying capacity to make contributions from year to year. Individuals who want to fully take advantage of this strategy by making contributions up to their concessional cap plus additional catch-up amounts may need to consider strategies for how to fund those catch-up contributions. Individuals with a total superannuation balance (TSB) below $500,000 are now able to “carry forward” their unused concessional contributions.

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Belinda Frazer
PROVIDING ENTERTAINMENT

As a small business employer, you may need to understand how fringe benefits tax (FBT) and entertainment works so you can determine whether you have to pay FBT. If you sometimes provide your employees or their associates with food and drink, gifts or leisure activities you may have to pay fringe benefits tax (FBT) – as this may be classified as providing entertainment.

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Belinda Frazer
MYTHS ABOUT BUSINESS COACHING & THE REAL STORY

Entrepreneurs have a lot of preconceived notions when it comes to business coaching. But if these beliefs are holding you back from getting an effective business coach, you’re missing a huge opportunity to improve your skills and your business’s performance, says BDC’s Business Consultant Nyron Drepaul. [source]

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Belinda Frazer
SPOTLIGHT ON INVESTMENT RISK PROFILES

Many of the financial decisions that you make regarding your personal finances involve a certain level of risk. Importantly, the level of risk that you are comfortable with can be different from the next person. Given this, when it comes to investing inside and/or outside of superannuation, whether over the short, medium or long-term, one of the first ports of call is determining an appropriate investment risk profile.

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Belinda Frazer