The Great Housing Affordability Debate: What the Major Parties are Promising Home Buyers This Election

If you’ve been following the election these past few weeks, you would have heard various politicians talking a lot about things like ‘cost of living’ and ‘housing affordability’. They’re the political buzzwords of 2022. It’s little wonder. Rising interest rates and record-high property prices have made home ownership an issue of immense concern and frustration for many Australians. And the politicians know it. So, with just days until the polls…  Read more

Budget 22: New Medicare Thresholds

Medicare Thresholds Blog Increasing the Medicare Levy Low-income Thresholds The Government will increase the Medicare levy low-income thresholds for seniors and pensioners, families and singles from 1 July 2021 as follows: The threshold for singles will be increased from $23,226 to $23,365. The family threshold will be increased from $39,167 to $39,402. For single seniors and pensioners, the threshold will be increased from $36,705 to $36,925. The family threshold for…  Read more

2022-23 Federal Budget Highlights

Budget 2022 23 The Federal Treasurer, Mr Josh Frydenberg, handed down the 2022–23 Federal Budget at 7:30 pm (AEDT) on 29 March 2022. In an economy emerging from the pandemic, the Treasurer has confirmed an unemployment rate of 4% and an expected budget deficit of $78 billion for 2022–23. As international uncertainties add pressure on the cost of living, key measures in the Budget provide cost of living relief in…  Read more

How is cryptocurrency taxed in Australia?

One of the most common questions clients are asking us now is: How is my crypto taxed? Many people unfortunately don’t understand that a cryptocurrency is just like any other investment. Whether you’re currently involved in a cryptocurrency like bitcoin, or considering buying a cryptocurrency, it’s important you understand the tax implications before investing. While the tax consequences will vary according to your circumstances, and it’s important to seek reliable…  Read more

Understanding Lenders Mortgage Insurance

Purchasing a property without a sufficient deposit can lead to costly Lenders Mortgage Insurance. However, it’s also possible that the time you’re taking to save up for the deposit will actually result in you spending more on your home.  Why is this?  When buying a home in Australia, buyers who wait until they have enough for the deposit (20%) can save money as they won’t be required to pay expensive…  Read more

Newcastle and Lake Macquarie Real Estate Investment in 2022

Now a new year is upon us, you may have already started planning what your 2022 financial goals are going to be. You may be considering saving for a holiday, clearing your debts or you may be preparing to make bigger steps and reach new milestones this year. If you’re thinking about the latter, your next move could be investing in real estate. The real estate market in Australia is…  Read more

The Ultimate Financial Checklist for 2022

  As we settle into a new year and shake our heads at how fast the last 12 months have come and gone, most of us will be thinking about the coming year and the things we would like to achieve. Don’t forget to include money on your list of new year’s resolutions!   Here are 12 things you can do to get off to a strong financial start in…  Read more

5 of the Most Common Financial Goals to Consider for 2022

A brand new year means a fresh, new start. Do you know what else it means?  New goals!! The last two years have been challenging, but 2022 is going to be amazing – and you can make it even more incredible by setting goals that challenge and reward you. As we work our way into the New Year, now is the time to start planning out your goals – the…  Read more

3 Tips to Help You Retire Early

Despite being years away from the average retirement age, it’s the dream of many hardworking individuals to achieve an early retirement.  You may have heard of the FIRE movement – Financial Independence, Retire Early.  FIRE is a movement of people dedicated to extreme saving and investing, in a way that allows them to retire far earlier than they would have otherwise.  One of the most important elements of the FIRE…  Read more

What You Need to Know About Making a Downsizer Contribution

You may be someone approaching your retirement days or already living the retirement dream. Either way, you might have noticed some changes in your living situation and lifestyle.  Many retirees begin to realise that their current home isn’t necessarily the right fit for their new retirement lifestyle. Commonly, retirees realise their home is simply too big! Maybe you’ve decided you want a far more low maintenance home with less gardening,…  Read more

How to Run a Small Business: 6 Tips to Manage Your Finances

The most effective way to achieve optimal business operations can simply be by educating yourself on the ins and outs of running a business. With that in mind, one of the critical areas that is important to focus on is your small business’s finances.  Running a small business requires hard work and effective multitasking. But as a business owner, I’m sure this isn’t news to you! I’m sure you also…  Read more

3 Factors to Consider Before Hiring a Financial Adviser

It is a common goal for many Australians to achieve financial security for themselves and their family. Many people will find this far easier with a financial adviser by their side. In partnership with a financial adviser, you have the opportunity to improve your finances and get on track to achieving the dream of financial freedom! However, it’s imperative to choose the right financial adviser to help you protect and…  Read more

Business Update – 10 November 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. $44 Million Recovery Package for Melbourne The Melbourne Money scheme is returning to the CBD, with the state government and City of Melbourne launching a $200m “revitalisation fund”. From 15 November, those dining in the CBD between Monday and Thursday can claim a 30% discount – of up to…  Read more

Capital Gains Tax: What is it and how is it calculated?

A capital gain (or loss) occurs when an asset is sold. The difference between the purchase price and the sale price is the gain or loss. Capital gains tax (CGT) applies to money you have made from selling an eligible asset. Capital gains tax events occur when an asset is sold, or other triggers arise, such as the loss, theft, or destruction of an asset, or creating contractual or other…  Read more

How Business Owners Can Take Advantage of Tax Loss

For most people, when it comes to dealing with taxes, it can quite literally be taxing. Tax management requires a certain level of focus, expertise and organisational skills.  If you are running a business, tax management can become even more complicated. If you are an aspiring entrepreneur, you’ve probably encountered the term ‘tax loss’ more than once. Understanding tax loss and using it to your advantage can be challenging, but…  Read more

Business Update – 3 November 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Borders are reopening! After closing its international borders for nearly 600 days, Australia is now open to foreign visitors starting on Monday, as restrictions gradually lift. Fully vaccinated travelers from New Zealand who test negative in pre-departure tests can now enter and avoid quarantine in NSW. The next set…  Read more

Understanding Australia’s Director Identification Number

In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government. Although the ABRS rolls out progressively between 2021 and 2024, one of the immediate changes is that business directors must obtain a director…  Read more

Business Update – 27 October 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia-Singapore Travel Lane Begins on 8 November Australia and Switzerland will join the eleven countries – including the United States, the United Kingdom, Spain, Italy and France – that have signed on to Singapore’s vaccination travel lane arrangement that replaces quarantine with COVID-19 testing pre-departure and on arrival. The…  Read more

Lodging a Tax Return for Your Business: Why You Need a Professional Tax Accountant

Since we’re approaching the tail end of tax season, we’re sure many of you are starting to feel the stress of having to manage your own finances.  This is especially true for businesses as we know how much work needs to be done before the October 31 deadline. Unfortunately, we all know we can’t simply opt out of doing our taxes: it’s unavoidable. What’s even more unfortunate is that one…  Read more

Ethical Investment Week 2021

Today marks the beginning of Ethical Investment Week. ​Now in its eighth year, Ethical Investment Week highlights the importance of ethical investing and the benefits it can offer investors. But what is ethical investing? Ethical Investing is a holistic approach to investing, which considers not only financial returns, but the impact of that investment (both negative and positive) in areas of social justice, corporate governance and the environment. It helps…  Read more

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