The ATO has released updated figures for daily travel allowances, which apply for the current financial year ending 30 June 2019. Travel allowances can be paid by an employer (e.g. a practice trust) to an employee (the medical or dental practitioner) to cover costs of accommodation and/or meals while travelling for business involving at least one[...]
Read MoreOn Thurday 5th July, our firm agreed to become an Authorised Reprensentative of Wealth Today Pty Ltd (ABN 62 133 393 263), AFSL 340289, following the collapse of Dover Financial Advisers, the AFSL holder we were previously licensed through. This means we are able to continue to provide advice on financial products to clients. The way[...]
Read MoreLast Friday afternoon, I was advised that Dover Financial Advisers is going out of business by email. Our firm was licensed through Dover to provide financial advice to clients. We are now actively searching for a new Dealer Group to switch our licence to. We have already received numerous offers. Please note: we a primarily a[...]
Read MoreOur firm generally advoctates taking a passive index based approach to share market investing as it lowers risk and costs. There is also a wealth (pun intended) of research indicating that paying high investment management fees calculated as a percentage of funds under advice for active management of investments does not usually add any value[...]
Read MoreMembers of a couple are able to transfer after-tax concessional contributions between each other. In cases where a significant age difference exists, the conventional wisdom has been to split contributions from the younger member of a couple to the older. The rationale is that access to the contributions transferred and the earnings on those funds occurs[...]
Read MoreChristmas parties are usually either not tax deductible as "entertainment" or there can be Fringe Benefits Tax payable. The only way to make a Christmas party tax deductible is to put on what could be considered an underwhelming event: the party would need to be held on business premises with only employees and or clients in[...]
Read MoreLegislation to implement the Federal Government's changes to superannuation has now passed through Parliament and is set to become law. While further restrictions have been implemented, at least the retrospective element of the original proposal has been ditched. At left is a neat table summarising the changes. [...]
Read MoreMost active fund managers fail to provide any extra value to justify fees charged. The latest mid year 2016 S&P Dow Jones report makes difficult reading for most active managers and their investors. 60% of Australian general share funds underperformed the index (S&P/ASX 200) over one year and over 5 years the number is 69%.[...]
Read MoreThe ATO has released updated figures for daily travel allowances, which apply for the current financial year ending 30 June 2017. Travel allowances can be paid by an employer (e.g. a practice trust) to an employee (the medical or dental practitioner) to cover costs of accommodation and/or meals while travelling for business involving at least one[...]
Read MoreSo far, 2 (Westpac and CBA) out of our 4 major banks have lifted interest rates in response to increased capital requirements. The banks are unwilling to cede any ground when it comes to profitablilty. If adverse circumstances arise, they just increase their margins by jacking up rates. We have a unique banking industry in Australia -[...]
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