One would hardly think an election is to be held in September given last night’s Federal Budget and its focus on cost cutting, tightening of taxation collections and scaling back on incentives. Even with this fiscally austere approach the government is still forecasting a deficit in 2013/14 of $18b. The Australian economy’s rapid contraction and consequent fall in tax revenue... Read more
A number of tax changes aimed at reducing complexity, cutting red tape and providing tax relief for small businesses have been introduced this year. Following is an outline of the changes relevant for small businesses in this financial year. From the 2012-13 income year, small business can: immediately write-off of all assets valued at under $6,500 (up from $1,000 previously);... Read more
The Hillross Awards Program recognises advisers and advisory firms across the country for their high levels of professionalism, wealth management expertise, customer service and business efficiency. The Hillross Adviser of the Year, 2012 the winner was our very own David Heyworth Hillross Managing Director Hugh Humphrey said David Heyworth was a deserving winner and the overwhelmingly positive feedback from his... Read more
Brendon Vade, Financial Planner at Edney Ryan Wealth Management has recently obtained accreditation from the Self-Managed Super Funds Professionals’ Association of Australia Limited (SPAA). SPAA is recognised as the leading association within the SMSF industry in Australia. Brendon’s accreditation demonstrates his committment to providing industry-leading advice to clients with SMSF’s. If you have SMSF-related enquiries, contact Brendon to discuss.
As part of the Stronger Super measures, the Government recently introduced new obligations for SMSF Trustees. In addition to requiring a regular review of the fund’s investment strategy, trustees need also consider insurance cover for the fund’s members. Insurances may include life, TPD (total and permanent disablement), trauma and income protection. There is no obligation to take out a particular... Read more
Wills and inheritance can be highly emotional subjects, particularly as family structures become more complicated. The rules and practices around bequests are not as simple as you might think and the way your beneficiaries and the courts may view the division of spoils after your death may not always align with your expectations. The Succession Act NSW makes some significant... Read more
Contrary to popular belief, business names, company names, domain names and trademarks all have very different levels of protection. In this article, we identify some of the common misconceptions.Neither business names nor company names grant any proprietary (ownership) rights like those granted by a trademark registration. By the same token, neither business names, company names, nor domain names, offer any... Read more
In recent weeks the media has been informing us that margin lending has jumped for the first time in three years, with investors trying to benefit from the latest sharemarket rally. Banks are reporting twice as much interest in new margin loans compared to last year. In the margin lending business, financiers take on baskets of stocks as collateral against... Read more
Tax Alert 1 Loss ‘Carry Back’ Provisions: Progress Update – The Government’s proposed loss ‘carry back’ measure was introduced into Parliament in February.These provisions seek to allow ‘carry back’ of losses in the current financial year to offset prior year profits, to obtain a refund of tax previously paid.The intention of this measure is to assist corporate businesses facing pressures from... Read more
Mosman locals would already know Angela from her many years running Boyd Legal in Mosman. What is your area of legal expertise? Being a solicitor for 20 years has given me great breadth of experience but I focus now on complex property matters and Wills and Estate Plans. Most common mistake in Wills? Don’t assume that your loved ones will... Read more