Professionals

For those individuals earning more than $180,001 p.a. you will see your tax rate reported as 45%. However in reality this rate is incomplete. Once you have added in the 2% Temporary Budget Repair Levy and the 2% Medicare Levy your real tax rate becomes 49%. Further, for individuals in this highest tax bracket without adequate Private Health Insurance, your... Read more

Commercial litigation often occurs as a result of common and recurring mistakes that are made during the drafting and negotiation of contracts. Businesses that are conscious of these can significantly reduce their risk of litigation. While a good lawyer should be doing all this for you in the background, as a business owner or manager it is worth understanding the... Read more

Have you recently left Australia to live overseas, or are you planning a move in the future? You will be considered either an Australian resident or non-resident for tax purposes, and this will have a substantial impact on the amount of tax you will pay on both your Australian and overseas-sourced income. Some careful planning prior to leaving Australia will... Read more

The lending industry is responding to social changes in property buying. As prices continue to rise, first home-buyers are increasingly looking for novel ways to get started. Lenders have now established a class of home loan specifically for buying a property with friends. The new style of loan enables pooling of money with friends, or family, without the usual shared... Read more

There were many positives in Treasurer Hockey’s second federal budget, the tone of which was a stark contrast to his grave warnings, severe spending cuts and austerity messages a year earlier. However one must question the optimistic forward growth estimates on which treasury base their calculations – I hope they are correct. We attach a paper issued by the Institute... Read more

‘Ademption’ is a legal term that describes what happens when something that is left as a gift in a Will is no longer owned by the Will-maker at the time of their death. Consider these examples of how this can occur. Example 1: The gifted property has been sold, for example the family home has been sold to fund aged... Read more

Recently one of our clients received an unannounced visit from a Fair Work Inspector for a compliance audit. For the benefit of all business managers and owners, note the following information about the role and powers of these inspectors. Fair Work Inspectors are appointed by the Fair Work Ombudsman under the Fair Work Act 2009. Fair Work Inspectors have powers... Read more

A one-off grant of $2000 will be paid to businesses that create a new full-time NSW-based job and maintain the increase for at least 12 months. For part-time positions, the grant will be pro-rated based on hours of employment. A business will receive the grant if all the following employment conditions are met: A person is employed in a position... Read more

Many of my clients belong to the wealthiest generation in history. Over almost thirty years I have served as their chartered accountant, sounding board and I’m proud to say their trusted advisor. For well-off individuals with a long history of managing the strategic and practical aspects of their financial affairs, there are some challenges to overcome to achieve a time... Read more

When you have found the right property and need a deposit to secure the purchase, a deposit guarantee may assist buyers whose funds are currently tied up. A deposit guarantee is a substitute for the cash deposit. The deposit guarantee is issued by a guarantor, for a fee based on its value and duration of cover. At the time of... Read more