logo
84 Waterman Street Old Bar NSW 2430
02 6553 3235

The in’s and out’s of asset allocation

Posted on Feb 23, 2018 by admin

Deciding where to allocate your assets can be confusing and even daunting, particularly if you aren’t confident in your knowledge of the current financial sphere. Consider the following in’s and out’s of asset allocation to make the process much easier: Set goals Goal-setting is extremely important, particularly when it comes to your money. When deciding out where to allocate assets, you should set both short-term and long-term goals. If you are planning to save for a vacation or a new car, this would be a short-term goal, a mortgage would be a medium-term goal and your nest egg would be […]

Keep Reading...

The ATO targeting record keeping of small businesses

Posted on Feb 23, 2018 by admin

The Australian Tax Office is honing in on small businesses failing to comply with guidelines regarding appropriate record keeping. Findings from the ATO’s Protecting Honest Business campaign indicated that one of the leading factors for small business failure is their poor record keeping practices. Small business owners are required to disclose particular information, and keep records of the following: Income tax records Income and sales records Expense or purchase records Year-end records Bank records Goods and services tax records Employees and contractors records Fuel tax records By law, all Australian businesses must keep these records for a period of five […]

Keep Reading...

Understanding various kinds of super fees

Posted on Feb 16, 2018 by admin

No matter the kind of superfund you opt for, you will be subject to super fees. Understanding how these fees work and the difference they can make to your next egg is vital. When it comes to superfund fees, there are two factors you need to get your head around; the kinds of fees you are being charged and the rate of fees you pay. Opting for a superfund based on these two factors can see you retire with hundreds of thousands more money. You should be aware of the various types of fees you are being charged. If you […]

Keep Reading...

Minimising the risk of fraud

Posted on Feb 16, 2018 by admin

The Australian Taxation Office is urging all businesses and individuals to take care in relation to avoiding the risk of fraud. With a focus on criminals lodging fraudulent returns in order to obtain unwarranted refunds through accessing banking information that is not their own, the ATO recommends businesses and individuals practice the following: Discussions with staff and clients Keep your employees and your clients about safe behaviours to protect them from being vulnerable to criminals, such as not clicking on downloads, hyperlinks or opening attachments in unsolicited emails. Protection on devices Ensuring the devices you use for confidential information such […]

Keep Reading...

Understanding the First Home Super Saver Scheme

Posted on Feb 6, 2018 by admin

With much controversial discussion surrounding the First Home Super Saver Scheme, understanding exactly what the Scheme entails is necessary. The scheme was announced in the 2017-18 Federal Budget as a means to reduce the pressure surrounding housing affordability across Australia. The formalities of the scheme are as follows: As of 1 July 2017, individuals can make voluntary contributions, both concessional and non-concessional, into their super fund. As of 1 July 2018, individuals can release these contributions, as well as their associated earnings, and use this money to help purchase their first home. Individuals eligible for this scheme are able to […]

Keep Reading...