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Posted in Investment
#EveryoneNeedsaPlan: ATO Data Matching Rental Bonds & Novated Leases
Posted by Dean McKinnon
on 21 March 2024
Commencing 2024 FY through 2026 FY, the ATO will demand comprehensive data records from rental property bond authorities and novated lease companies:
The ATO want to use the data obtained to match against taxpayer records and make sure all applicable tax is being paid
ATO Rental Bond Data Matching
ATO Novated Lease Data Matching
Included in the data obtained from the rental bond authorities will be the rental payments
If the rental payments don't match the income decla...
| Posted in:TaxMortgages and FinanceInvestment | 0 Comments |
#EveryoneNeedsaPlan: ATO Removes GST Discount on Investment Adviser Fees
Posted by Dean McKinnon
on 14 March 2024
From 1 July, 2024 Australian superannuation funds and investment platforms will not be eligible to claim some of the GST paid by investors for adviser fees
The fees you pay your adviser to help manage your investments are subject to GST
Generally, the GST paid on your adviser fees cannot be claimed back and therefore the cost of your adviser fee is increased by 10%
However, if you elect to have your adviser fees paid by way of deduction from a superannuation fund or investment ...
| Posted in:TaxSuperannuationInvestment | 0 Comments |
#EveryoneNeedsaPlan When Considering Crypto Investments in Their SMSF
Posted by G. Dean McKinnon
on 25 February 2022
ASIC recently published a warning about including crytocurrency ('crypto') investments in Self-Managed Super Funds (SMSF).
Unlike traditional investments crypto investments are difficult to research and rate unlike commonly traded investments such as cash, property, shares. As a result, the investor is placing their investments at high risk of the return and capital invested. Further, crypto investments are generally not traded on traditional market platforms such as stoc...
Unlike traditional investments crypto investments are difficult to research and rate unlike commonly traded investments such as cash, property, shares. As a result, the investor is placing their investments at high risk of the return and capital invested. Further, crypto investments are generally not traded on traditional market platforms such as stoc...
| Posted in:SuperannuationInvestment | 0 Comments |
#Everyoneneedsaplan when navigating through mortgage lenders
Posted by G. Dean McKinnon
on 17 January 2018
Why is it getting more difficult to get a home loan?
It is becomming increasingly more difficult to obtain a home loan - why is this:
The Federal Government is worried that the Australian property market is in a bubble, because home loan interest rates are low and credit is easy to obtain;
The Government uses its banking regulatory body APRA to force banks to make it harder to get property loans in an attempt to cool the housing market.
This article in The Australia...
| Posted in:PropertyMortgages and FinanceInvestment | 0 Comments |
#Everyoneneedsaplan when speculating with bitcoin
Posted by G. Dean McKinnon
on 20 December 2017
What do you know about bitcoin?
Dean has a few tips to help you understand:
Bitcoin is similar to a currency (cash) and is used to pay for goods and services, usually Internet purchases;
The difference is bitcoin is not regulated by any government and therefore governments don't control the supply;
There is massive speculation that bitcoin will replace cash for purchases (specifically on the Internet) and this is fuelling the price;
Bitcoin ...
| Posted in:EconomicSuperannuationInvestment | 0 Comments |
