FEDERAL BUDGET 2018
On 8 May 2018, the Government delivered the 2018-19 Federal Budget, and it would be reasonable to say that this Budget starts to lay a foundation for the next Federal election. The focus of the budget was building a stronger economy by creating jobs and guaranteeing essential services. As most households have had to tighten their budgets over the past few years, the Treasurer has announced that the Government must also live within its means. He said the Government has made real progress in getting the budget back on track and that it has stayed on track for a surplus for six successive budget updates.
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WHAT IS YOUR PRICE FOR FINANCIAL FREEDOM?
Being ‘financially free’ is a common starting point for a person’s financial goals but as the referenced article shows, what this actually means when we dig deeper depends on a person’s age, gender and state of residence on top of dozens of factors based on personal situations.
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AIRBNB & HOME SHARING: TAXING IMPLICATIONS
Do you rent out a part of your home, or a holiday home, on Airbnb, Stayz or another sharing site? Perhaps you see this as a way of making a little extra income to help the household budget or to save for that holiday. But what you may not be aware of are the long term tax implications of such a move, which may lead to a case of short-term gain causing long-term pain.
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GET READY FOR E-AUDITS
Are you ready for e-Audits? The ATO is finally moving with the times and have started conducting e-Audits using computer assisted verification techniques. This process is said to be more efficient, accurate and thorough than traditional audits with the advantage of also minimising the time ATO spends on your business premises.
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ARE YOU GETTING THE MOST FROM YOUR INVESTMENT PROPERTY?
Even with talk of bubbles bursting and budget-time reforms, property remains a popular choice for investors. And an investment property can bring more savings at tax time through property depreciation deductions than many people – particularly new investors – realise.
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TAX SCAMS UPDATE: STAY SMART ONLINE AND OFFLINE
With the upcoming tax season upon us, scammers are prevalent again. We are sharing tips to protect yourself (and your friends and family) from scammers. Taxpayers need to be ever-vigilant about bogus calls, text messages and emails from scammers. Some scammers go to great lengths to deceive taxpayers, including impersonating government representatives on the phone, sending fraudulent emails and even creating fake websites.
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SMART SAVING FOR YOUR HOUSEHOLD
Imagine always having spare income to add to your investment so that your money is constantly working harder for you? According to Simple Savings’ Jackie Gower, it’s not a pipe dream with these common sense tips for cutting expenses.
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PLANNING FOR RETIREMENT
Retirement tends to roll around a lot sooner than we expect. Laying plans from an early stage will ensure you enjoy the best retirement possible.
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FOUR TYPES OF INSURANCE FOR THE NEWLY DIVORCED
Financial discussions during divorce tend to focus on dividing assets and cash, but managing your insurance is an area which can make a big difference for you and your family.
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