Superannuation makes up almost 10% of our salaries and is vital to our retirement, yet many of us don’t put much thought into it beyond ensuring the correct amount goes into the fund of our choice.
Read More
When it comes to wealth accumulation and the management of certain lifetime risks, an appropriately established personal insurance plan can be an important risk management strategy.
Read More
Over the course of your life, the income you receive will often be assessable for income tax purposes. However, depending on your situation, there will be instances where the tax payable may be reduced.
Read More
If you run a small business with payees that include family members in a family business or directors or shareholders of a company, chances are you’re not yet reporting payments through the Single Touch Payroll (STP) regime.
Read More
When looking to fund your retirement lifestyle from your super benefits, a tax-effective option can be to transfer your super benefits from accumulation phase to retirement phase by commencing a retirement income stream.
Read More
The start of the year is a smart time to put your home loan under the spotlight. One in two Australians are in the dark about their loan rate - and home loan apathy could stop you forging ahead financially. Interest rates tumbled in 2020, and there are savings to be made from refinancing.
Read More
New positive Covid-19 cases in New South Wales and Victoria have prompted increased testing and tracing to prevent further outbreaks. As Australia prepares for its vaccine rollout, the federal government reaffirmed its confidence in the AstraZeneca vaccine. Oxford University said work was underway to develop a new generation of vaccines that will protect against emerging variants of the virus. Meanwhile Australia’s recovery continues and has been most evident in the labour market.
The unemployment rate fell from 6.8% to 6.6% in December, lower than the 6.7% expected, as the recovery in the labour market continued to outperform expectations. 50,000 jobs were added over the month, following the strong 90,000 increase in November, while the participation rate rose from 66.1% to 66.2%. Retail sales fell 4.1% in December and were weaker than expectations of a 2.5% decline as shoppers pulled back in the crucial lead-up to Christmas, resulting in declines across five of the six retail industries. Australia’s trade balance rebounded in December to a surplus of $6.8 billion but fell short of expectations of $7.7 billion.
Read More
If you own a small business still recovering from the COVID-19 induced downturn, remember that you can take advantage of FBT concessions
Read More
To many individuals, the difference between tax planning and tax avoidance is not immediately obvious.
Read More