If you have an SMSF, and you are an employee, you have an obligation to meet the SuperStream requirements for standards of contributions to your fund. As such you are required to provide your employer with the following information: Your SMSF’s Australian Business Number (ABN) Your SMSF’s bank BSB and account number for receipt of contribution payments An electronic service... Read more
For parents who are willing and able to help their adult children buy their first property, here are a number of options with varying degrees of risk and control. Gift – A simple option if you have spare cash and are happy to hand it over as an unconditional gift. Tenants in Common – By buying a property with your... Read more
A business registration certificate no longer needs to be on display, following legislation in 2012. However, some businesses may choose to display the ASIC record of registration that is issued upon successful business name registration and renewal. Businesses are still required to display their business name prominently in places they are open to the public. If you need to check... 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
Myth 1: Registration is a pre-requisite for copyright protection. Fact: Copyright arises automatically as soon as a ‘work’ is recorded in material form – you do not have to do anything to obtain copyright protection for a ‘work’ that you create. Myth 2: Copyright protection lasts forever. Fact: The duration of copyright protection depends on the type of ‘work’.... Read more
Now while loan rate are low is a great time to pay off as much as you can on your loan. Skipping coffees and bringing lunch from home may save you hundreds of dollars per year, but getting a better deal on your loan could save you thousands. Give me a call to discuss and I’ll be able to instantly... Read more
If you are over 55, you are able to access your superannuation while still working via a Transition to Retirement income stream, to reduce tax and boost your superannuation balance. This enables two options: Reduce your work hours and use your superannuation income stream to top-up your income, or Continue to work full-time, boost your superannuation balance while maintaining your... Read more