What is a Child Maintenance Trust?
When relationships break down, child maintenance payments are often made from post-tax money. If this is a position you are facing, perhaps you might be interested in learning about a Child Maintenance Trust.Read Full Article
It's Never Too Early to Start
Children see money nearly every day, and as they become old enough to recognise the currency value on coins and notes they’ll want to start counting – just be mindful that very small children and coins don’t mix well. If you decide to give children pocket money or to pay them for doing age-appropriate chores, encourage saving by giving them a money-box. Get yourself a money-box as well and each time your child puts money away, do so yourself – and vice-versa. It could be fun!Read Full Article
Should you get private health insurance?
With cost of private health insurance increasing every year, many people are asking themselves “is it worth it?” The answer to that is “it depends”. Ultimately, this decision is both an emotional and financial one. There are several factors to consider from a financial perspective when deciding to take out private health insurance – the ‘Medicare Levy Surcharge’, ‘Private Health Insurance Rebate’, the cost of the hospital insurance policy and ‘Lifetime Health Cover Loading’.Read Full Article
Important tax planning strategies for 2017
Understanding what the potential tax liability will be for your business and allowing time for tax planning can save you thousands of dollars. At the very least, it will assist you in the preparation of your budgets and cash flow projections for the coming financial year.Read Full Article
Common Tax Deductions for Tradies
If you are a tradie (employee or contractor) then you are probably paying for things that you may be able to claim on your tax return. Clothing (must have business logo) - you can claim your work-wear as long it bares the company logoRead Full Article
A majority of myTax returns contain errors!
H&R Block recently reviewed the accuracy of self-submitted tax returns filed via “myTax”. Alarmingly, over 60 percent of the returns studied contained errors and approximately two-thirds of those errors favoured the ATO!Read Full Article
Changes to the Zone Tax Offset may affect your eligibility
The Law has changed about who is eligible to claim the zone tax offset. Previously you could claim this offset if you resided or worked in a remote area, however under the new law you can only claim the offset if ...Read Full Article