When calculating how much Income Insurance you need, it's easy to overlook the fact that tax is payable on the Claim Payment received. How Much Tax is Payble? That depends on your taxable income. Income Insurance Claim Payments are effectively treated as taxable income, which is added to any other taxable income you receive, such as rental property income, etc. Will It Be Enough? That depends on your expenditure. Consider this comparison of Employment Wages and Inco...

PPSR stands for Personal Property Security Register. The PPSR commenced 30 January 2012, and replaced the Motor Vehicle Security Register (MVSR). What Does It Do? Here's the best summary I've seen: The PPS Register is a notice board which allows individuals and organisations to search and register security interests in personal property. Effectively, the PPSR is used to record all interests on personal property (e.g. Finance), so you can check the property you are buyin...

Congratulations to Steve - the first of our many clients to enjoy a free brew on his way to work!

McKinnon Financial Planning has three Client Service Options available: Total Service Client Essentially, we take care of all of your financial needs for you, so you don't have to worry about anything - including: Developing and reviewing a Comprehensive Financial Plan Consolidating and maintaining Superannuation (including Self-Managed Super Funds) Arranging and maintaining salary-packaging Arranging and maintaining Life Insurances Arranging Fin...

There were some changes to the taxation of superannuation contributions, as of the 1st July, 2013. Here's a quick summary of the changes to tax-deductible superannuation contributions: Tax-Deductible Super Contributions In their wisdom, some years ago now, the government thought it would be a great idea to change the reference term for tax-deductible super contributions from the easy-to-remember 'Tax Deductible Contributions', to the what-the 'Concessional Contribut...