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The tax-free property flip myth
I get a lot of questions from people who want to purchase a property, live in it, do it up and sell it at a for a profit and then repeat the process; aka a...
How remembering your ‘why’ can help you plan for a new year
FREEDOM. It’s quite often the number one reason people go into business for themselves. In particular, they are looking for freedom in one or more of three...
The difference between repairs and improvements and what you can claim on your rental property.
Building wealth through owning property is a very common strategy to create long term wealth. According to the ATO there are nearly 2 million individuals that...
7 Ways to Grow Your Business and Profitability – Part 2
In part 1 of 7 Ways to Grow Your Business and Profitability, I covered the first 3 ways: No. 1: Build customer retention No. 2: Generate more leads No. 3:...
7 Ways to Grow Your Business and Profitability
The Challenge Sustaining and growing a business is a challenge. Business conditions change, new competition pops-up, your customers’ wants change. Technology...
Protecting your assets
There’s been a lot of reports in the news lately about businesses going broke and the effect that this has on the business owner, suppliers, subcontractors...
Should I own my house in a trust?
A family (or discretionary) trust can be a good way to hold assets to protect them from claims that are made against you or your business … so why not put...
Are your Contractors actually Employees?
A real example and ATO audit outcome. Most businesses reach a point at which they need an extra pair of hands. This could be on either a short term or...
Divide and Conquer 3
In this, the third article in our series ‘Divide and Conquer’, we’ll look at the next scenario: Building to live in. If you haven’t read our first two...
Introducing our favourite child
A common discussion around the dinner table with our kids is ‘who is the favourite child?’. We have three teenagers so the debating is intense about the...
Divide and Conquer 2: Tax implications of subdividing your property
In our last article – Divide and Conquer … Tax implications of subdividing your property – we just scratched the surface of the tax implications of...
Divide and conquer … Tax implications of subdividing your property
The ‘quarter-acre block’ may have been the great Aussie dream post World War II, but for many, this amount of land it too much to handle. The opportunity to...
Happy New (Financial) Year! 4 questions to ask to help make it your best yet.
Congratulations! You made it through another financial year. I’m not sure how you feel, but I think they seem to go quicker each year. For many the new...
Running. A reflection of business.
One of the things I enjoy is running. In the past few years have taken up trail running and doing ultra-marathons (runs over 42.2km). Yes, my wife thinks that...
To spend or not to spend. 8 things to consider before jumping on the $30,000 asset write-off.
The ATO recently increased the instant asset write off to $30,000 for eligible assets purchased from 2 April 2019. But does this mean that you should rush out...
30 June is approaching! Do you want to minimise your tax?
With the end of the financial year only weeks away, it’s a perfect time to review your situation, take advantage of any opportunities and ensure that your...
Death and taxes
A wise man once said: “… in this world nothing can be said to be certain, except death and taxes.” Benjamin Franklin, 1789 People can manage to avoid taxes,...
Buying a property through a Self Managed Superannuation Fund
Investing in property though a self-managed super fund (SMSF) is a hot topic in the media and in discussions around the BBQ with friends. SMSF’s are able to...
Selling a property, even your house – taxes may apply
The ATO has introduced changes for people selling property that may impact you if you sell a property that you have lived in, an investment property or a...
How having a holiday helped my business
As some of you know, I recently took a three week holiday in Vietnam – the first holiday in eight years that I have been away from the office for more than 1...
How much does it REALLY cost to own a rental property and is it for ME?
Property investment has been a fantastic tool that many of my clients have used to build their wealth where the actual cost of owning a rental property –...
ATO Tax Debts to be Reported to Credit Agencies
If you owe money to the ATO, this currently doesn’t appear on credit checks and hence won’t affect your ability to get finance. BUT this is about to change!...
Plan now before 30 June 2018 hits!
With the end of the financial year only 2 weeks away it is perfect time to review your situation to take advantage of any planning opportunities and ensure...
2018 Federal Budget – the bits you might have missed
Television and news feeds were flooded with the proposed personal income tax cuts after the May 8 Federal Budget announcement, but there were a number of...