Should you go guarantor for your adult children?
This is a question that we, as trusted advisors, get presented with quite often. This is becoming more prevalent as millennials appear to get priced out of the property market as they aspire to purchase their first home and parents are anxious to help where they can. According to recent Westpac research, 6% of Baby […] Read More
Can you handle the truth?? There have been some amazing swings on the US Sharemarkets’ Dow Jones Index in the last few weeks. On some days the market has been close to 1,000 pts (approx. 4%) down during a daily trading session. Obviously, the Australian Stock Exchange behaviour tends to mirror what is happening overseas […] Read More
New Payments Platform
Having recently attended a technology showcase for accountants I learnt of a new payments platform (NPP) that they are expecting to roll out in the early part of 2018. The NPP will allow for the transfer from bank account to another account in real-time, rather than waiting for the funds to be cleared over a […] Read More
Top 10 tips to help rental property owners avoid common tax mistakes
The following are the ten common mistakes that the ATO have identified with rental property claims: 1. Keeping the right records You must have evidence of your income and expenses so you can claim everything you are entitled to. Capital gains tax may apply when you sell your rental property. So keep records over the […] Read More
How to lose customers to save very little!
Recently I came across an article published by mybusiness magazine that I thought was very relevant in today’s cashless society. This was reinforced by an experience that I had not that soon after. The following is a summary of that article. Businesses are being urged to weigh up the costs of credit card surcharges, as […] Read More
8 Money Ideas for the Early Years!
As we approach the festive season, financial discipline (along with dietary discipline) tend to fall by the wayside and New Year’s resolutions about getting yourself into shape are usually the result. Here are 8 simple ideas to guarantee your long-term financial fitness. 1. Ditch some or all of your credit cards As of September 2017 […] Read More
Business lessons from the movie “The Founder”
Like many people I don’t mind the movies, now days with a young family this often means Friday or Saturday night catching up on watching a DVD or now days by renting via the internet. A movie I had been meaning to watch for a while was The Founder. This is the story of Ray […] Read More
Thinking of Selling Your Business? 10 Things You Should Not Do!
While every business sale transaction is different, after being involved in many business sales and purchases, I have noticed a few common pitfalls and traps for the owner/seller. Whether your exit is imminent or 10+ years from now, here are a few to watch out for on your path forward, a list of what not […] Read More
Having recently read an article on Sacred Cows I thought it worthwhile sharing. The article began with a story about a US Army General watching his UK equivalent arrange the firing of a large cannon. The US General noticed the British used one extra soldier in this process. When questioned, the British General responded that […] Read More
Elder Abuse – Can you Recognise the Signs?
The Elder Abuse Prevention Centre, based in Queensland, defines elder financial abuse (EFA) as the illegal or improper use of a person’s finances or property by another person with whom they have a relationship implying trust. This is the most common type of elder abuse, with studies in Australia indicating that up to five per […] Read More