The superannuation announcements of the 2016 Federal Budget outlined major changes to superannuation regulations in Australia, but these changes will only have the chance to be passed in law if the Coalition is re-elected in July 2016. If so, these changes will likely take effect from July, 2017. Nevertheless, it’s a good time as the…
When the time comes to retire, it pays to be prepared, and financially planning for your retirement is as important as it gets. And the reality is, it shouldn’t stop when you say goodbye to your day job.
No matter what your purpose or reason for travelling overseas, it’s essential you plan your finances carefully. Not just to ensure you have adequate finances to fund your trip, but also because your journey – whether it’s temporary, extended or permanent – might have tax implications and can otherwise affect your financial future. Travelling on…
Everyone comes into retirement differently, with different needs and different expectations. The only common factor for those approaching retirement? Planning is crucial. It is essential to have a solid idea of how you want to live in the years following retirement, and the financial income that will be needed to accommodate the lifestyle you envisage.
There are several types of insurance that every senior should have, and it’s important to understand why. We’ve taken a look at the most important here.
A self managed super fund (SMSF) can be a great way to run your own superannuation investments and retain control over assets and decisions. However while there are a number of upsides for the right clients when it comes to running a SMSF, one of the downsides is that you – as the trustee – are completely responsible for the fund. This can become a little more complicated when there are changes to existing legislation, so it’s vital that you always remain aware of the rules and any amendments that occur. With the Federal Government’s budget repair strategy, there have been a number of key changes in the 2015 tax year that should be noted.
Heads –up!
For everyone who employs staff, there are legislative requirements to make mandatory super contributions.
This has been in place for many years:
A financial plan is a component of a business plan that serves more than just one purpose. The projections made determine the viability of a business, making it the essential part of any loan or venture capital application. Investors need to know they can get a return on their investment, and banks need to know that loan repayments can be managed. In essence, the financial plan becomes the reference against which you monitor your business’s performance. So how can you develop a financial plan for your small business?A financial plan has three major sections:
The dust has finally settled after the Federal Government handed down the budget a few weeks ago. The following items are the key points for small business owners:
There is no better feeling than being organised. To collate your thoughts, ideas, records, documents etc. can provide true clarity and peace of mind. You have complete knowledge of what is going on in your business (as well as your personal life). The probability of some type of nasty surprise is drastically reduced.