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Over the past year, few predictions relating to the property market have proven true. As the pandemic impacted on Australian wages, many commentators predicted a crash of epic proportions.But the crash never came. Instead, house prices skyrocketed. And they look to keep rising—at least for now, thanks to record low interest rates and strong Government...
Want all want to help boost our retirement savings while potentially saving on tax – but what are the best means to achieve the maximum outcomes? Here are five smart super strategies to consider before the end of the financial year. Add to your super – and claim a tax deduction If you contribute some...
With yet another financial year about to end, it’s time to start getting everything in order for the 2021 End-of-Financial-Year. It’s easy to push your EOFY tax planning aside, especially when our focus is still on COVID, but you don’t want to miss the opportunities that EOFY tax planning can present. There’s still plenty of time...
On Tuesday night (May 11th 2021) the Federal Treasurer, the Hon. Josh Frydenberg MP, delivered the 2021 Federal Budget. We have now reviewed all aspects of the Budget and our analysis summarises what it may mean for you and/or your business and superannuation fund. On the personal taxation front, the proposed changes include an extension...
House prices could jump 17% in 2021 and mortgage rates are set to rise much sooner than expected, ANZ Bank has tipped. How much earlier than expected? Well, the Reserve Bank has repeatedly said the official cash rate isn’t likely to increase for a few years, but ANZ senior economist Felicity Emmett believes fixed-mortgage rates have already...
The NSW government is seeking public consultation over an overhaul of stamp duty in NSW which would see home buyers spared from having to fork out tens of thousands of dollars under a new government plan. State Treasurer Dominic Perrottet announced as part of the budget that the government wants to replace stamp duty with...
If you are a sole trader, the owner of a small business or a not-for-profit organisation in NSW, you may be eligible for a small business fees and charges rebate of $1500. This rebate helps businesses recover from the impacts of COVID-19 and encourages growth by reducing the cost of running a business. Eligible businesses or not-for-profits only need to apply for the rebate once but can submit multiple claims until the full value of $1500 is reached. Funds...
The JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged 16 to 35 years. Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. Eligible employers key points for consideration: will be able to register with us from...
With the market as hot as it is right now, the fact that homes are selling for well above their reserve isn’t all that surprising. For the last few months, price guides have been about as accurate as a weather app, seemingly throwing out random numbers from the sky. But the surge in popularity for...
On 6 October 2020 the Federal Treasurer, Josh Frydenberg, delivered the Federal Budget for the 2020–2021 income year. It will be remembered as Australia’s biggest spending budget with a forecast deficit of $214 billion for the 2021 fiscal year. Treasury’s underlying cash balance will deteriorate by $480.5 billion over the forward estimates period. The budget...
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