Overwhelmingly, Australia’s top economists would rather the Federal Budget 2022 funds measures to cut carbon emissions than cuts to income tax or company tax. They are also dead against rumoured cuts to petrol tax and the tax on beer. The Conversation’s pre-budget survey of a panel of 46 leading economists selected by the Economic Society… Read more »
Stealth tax rises mean that when the government announces a tax cut, you’ll probably pay the same or more tax anyway. A curious feature of the Australian tax system is “bracket creep”. Taxpayers whose income climbs by no more than prices (inflation) get no increase in their living standards. Instead, they see more and more… Read more »
A family trust can serve a wide range of purposes and be extremely useful vehicles for tax planning, financial planning and investment. The Australia Institute examined ATO data and found that there are more than 800,000 trusts in Australia, with assets totalling more than $3 trillion. One of the reasons for the popularity is that… Read more »
Many landlords don’t realise the full advantage of the tax depreciation deductions available on their investment. With tax time fast approaching, I reckon depreciation is one of the least understood financial advantages for property investors. Many landlords are surprised to learn that they can claim depreciation as a tax deduction over the lifetime of their… Read more »
I don’t mean to be rude, but you need to get your financial SHIT together. That’s your Savings, Housing, Income and Taxes. Allow me to simplify personal finance into a word we’ve all used at some stage to describe our financial position: SHIT. Your money can be as complicated or as simple as you want… Read more »
There are some really attractive tax benefits attached to being a landlord. It’s basically about turning negatives into positives… Being a landlord has its perks. Whether it be earning a passive income, the gains that come with property appreciation or the safety net of a residence to fall back on if times get tough, it’s… Read more »
Have you been thinking about sorting your life admin but don’t know where to start? You know, all those things you never get around to, but can make your life function so much smoother and less stressful? Like organising your tax, sorting important documents, understanding superannuation and the list goes on… Here’s what you can… Read more »
We all love our tax deductions, right? “I’m paying too much tax, how do I reduce it?” I have these conversations with my clients all the time. Unfortunately there’s a giant myth when it comes to tax deductions that not everyone is aware of. There are lots of opportunities out there, for better or worse,… Read more »
Salary sacrificing can be an attractive way to buy the stuff you need while reducing your taxable income. But it’s not necessarily for everyone. Salary packaging can be a complicated thing to get your head around. Whether it’s right for you depends on your income, work arrangements, buying habits and even your retirement plans. What… Read more »
The tax considerations for investing in ETFs can be complicated. But if you want to stay on the right side of the ATO, you need to know them. The boom in Exchange Traded Funds (ETFs) on the sharemarket has attracted thousands of first time investors. If you’re one of them, the Australian Tax Office (ATO)… Read more »
