Blog
Business losses to scams up 23%
According to the ACCC’s ninth annual Targeting Scams Report released on 21st May 2018, more than 200,000 scam reports were submitted to the ACCC, Australian Cybercrime Online Reporting Network (ACORN) and other federal and state based government agencies 2017. Total losses reported were $340 million – a $40 million increase compared to 2016. Investment scams […] Read More
Civil Penalties for Trustees of SMSF’s
There are generally 2 types of penalties the ATO can impose on SMSF Trustees for contraventions which have taken place: Administrative Penalties – this is generally for minor breaches of the SIS Act. The ATO will normally request the Trustees to take measures to amend or correct the breach and providing this is done in […] Read More
Dual Cab Utes – the ATO is on the lookout
Dual cab utes have become very popular over recent years – and sales are booming. One reason is that due to the general improvement of dual-cab utes, including the size and comfort of the vehicles, many business owners are purchasing these vehicles for use as a family vehicle to go to the beach, tow caravans […] Read More
Secrets to get you on the path to profit
Just read a great blog on the 3 tips to get you on the path to profit. I must say that it is interesting that it referred to 3 tips. I remember attending a session and there was an ex US Marine presenting. He referred to the rule of three. That is we cannot concentrate […] Read More
Employees – Want some easy money??
One of the frustrations many of our employee clients have is they are sometimes limited in their ability to claim tax deductions to help reduce their taxable income. However, one of the changes made in last years’ Federal Budget is currently flying under the radar due to the focus on many of the other complex […] Read More
Don’t give shares to children – Minor Shareholders
Don’t put shares into your children’s names! Over the years (and there have been quite a few!!) I have often been asked by clients about investing money into shares for young children – so as to build up investment balances “over the next 20 years or so”. Whilst the intention is great, there are potential […] Read More
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
Sharemarket Volatility
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