SUPERANNUATION - 2016/17 Federal Budget Update May 4, 2016

The Government will enshrine in law that the objective for superannuation is "to provide income in retirement to substitute or supplement the Age Pension." They have announced that they will reduce concessional contributions cap. Individuals with super balances under $500,000 will be able to bring forward previously un-used concessional cap amounts from 1 July 2017. High income earners with a taxable income of $250,000 will now pay an additional 15% tax (total of 30%) on concessional super contributions from 1st July 2017. The Government also proposes to remove the work test for individuals between 65-74 who wish to make super contributions.

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Client Case Study - Income Protection Saviour Apr 14, 2014

What would you do if you couldn't work for 5 months? Here is a real case study about one of our clients!

Max* is a builder who dropped a tile on his leg and sliced his Achilles tendon open in December 2013. Max is aged 51 and married with four children in their late teens/early twenties. One of the kids also works for Max. Max will be off work until at least the 1 April 2014 and may then only be able to work part time.

How will his family cope financially with him being unable to work for nearly 5 months and possibly longer?

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The rise of the Asian Middle Class - thoughts from Hong Kong Apr 17, 2014

On Saturday night I ate dinner at a Belgium restaurant while watching the Eels versus Roosters game on the big screen – in Hong Kong. My friend and I were the only westerners in the restaurant – it was full of local Chinese enjoying a night out.

There’s a huge shift in diet occurring – based on the number of locals I saw queuing at the Softees ice-cream Vans and those eating in the huge number of western restaurants and takeaways. The (French) bread shop was doing a roaring trade as was the cheese shop. It will be interesting to see (now that serving sizes are westernised and diet is increasingly non-traditional) how long before obesity will be endemic. There is already a proliferation of 24 hour gyms, maybe the Diet Industry will be the next big thing.

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Depreciation for renovations made easy May 1, 2014

Investment property owners often miss out on thousands of dollars due to two main reasons:

  1. They don’t know what depreciation entitlements they can claim for renovations or refurbishments to their investment property
  2. They don’t use a qualified Quantity Surveyor to prepare a tax depreciation schedule

Follow the steps below to ensure your tax depreciation schedule is right the first time around.

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Could your business weather the potential economic storm? May 2, 2014

The government has indicated that the upcoming budget will be tough. Cuts to spending and other measures to move the budget back to surplus will more likely mean that disposable income available to your customers will be reduced.

What does this mean for your business?

Could your business weather the potential economic storm?

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