It is difficult to convey the actual value of dealing with a Financial Planner or Adviser. I consider myself a Comprehensive Financial Planner, which means that I act as an advocate for my clients in all of their financial dealings. Even that explanation may be difficult for a new client to understand what value I can be to them, so I decided to complete a weekly BLOG of some of the tasks I undertake for my clients on a weekly basis.

If you are considering using me as your Financial Planner or Adviser, I hope my BLOG will help you understand what I can do for you, and if you're an existing client that only uses me for one particular financial service, my BLOG may provide you with a better understanding of the other Financial Services I offer.

If you would like a more personalised assessment of your Financial Needs, please feel free to contact me, and I will arrange an obligation-free appointment.

Finalised CGT Strategy for Sale of Business

Actually, I finalised this strategy a couple of weeks ago, but as this is my first 'This Week: GDM BLOG post', I wanted to include it.

My client sold their business several months ago, and the Capital Gain on the sale of the business was significant. I co-ordinated a strategy with the client's accountant, which resulted in the client paying no Capital Gains Tax on the sale proceeds. Also, part of my strategy included a contribution to the client's Superannuation investment, without any Contributions Tax, and without affecting the client's Non-Concessional Contribution Limit (which means they can put more into their Super).

5.00% Finance Rate

I received a special Finance Rate of 5.00% for vehicle finance from one of my vehicle and equipment Financiers. This Finance Rate is very close to the lowest Rate I have ever obtained for a client - many years ago I was able to Finance a vehicle (or equipment, I can't remember now) for 4.95%. With the way the Rates are trending down at the moment, it's likely the Finance Rates will go below 5.00%.

Finance Rates are fixed for the Term, as well, so even though it's likely Finance Rates will go up again over the next couple years, the Finance Contract Rate will remain the same. So, if you were thinking about buying a new vehicle, or updating your old vehicle, in the next several months, now might be the time, in case these low Finance Rates don't last.

Financed New BMW

I arranged Finance for a client to purchase their new BMW. The client had originally purchased the vehicle in the wrong entity, but I was able to co-ordinate a more suitable strategy with their accountant, to ensure the client maximised their tax deductions, and ensured no Fringe Benefits Tax (FBT) would be payable.

I then arranged with the motor dealer to change the Purchase Contract, to ensure the correct entity purchased the vehicle. The client picked up their new car on Tuesday - and was very excited to do so, as it was their first new vehicle!

Completed a Car Allowance Strategy | Found a Car | Financed the Car

I completed a Car Allowance Strategy for a new client, helped them find a suitable car at the right price, and arranged the Finance for them.

The client was referred to me by a client that I have assisted in the past, but they are not currently an active client of mine. The fact that a past client would go out of their way to refer a colleague to me confirms in my own mind that I must be doing something right!

Anyway, enough self-back-patting, back to the post. This vehicle was the first business-use vehicle the client has had, and they were going to starting a new job next week, so they needed to get things happening fast. The client was to receive a Car Allowance from their new employer, so they needed to understand the Tax Strategies, as well as ensure the Finance Repayments fit into their budget.

Some time ago, I developed my own Excel Spreadsheet that incorporates projections for the running costs of the vehicle, the Finance, and the Tax treatment for Car Allowances. This tool enables me to provide my client with a reasonable basis for the type of vehicle they can afford to Finance, within their Car Allowance budget.

Once I completed my recommendation for the vehicle purchase cost, based on the Car Allowance and a suitable Finance structure, I referred the client to a Car Broker we recommend. The Car Broker found a vehicle for the client, at the right price, within 24 hours. I then completed the Finance (with Vicky's invaluable assistance, of course), and the client picked up their vehicle Friday morning, ready to start work on Monday.

Furthermore, part of my recommendation was for the client to arrange a PAYG Variation with the ATO, so the appropriate portion of their Car Allowance is not taxed by their employer, but the client has no experience with this process. Vicky was able to assist the client complete this form, in conjunction with the client's accountant.

Net Medical Tax Offset Phase Out Article

I wrote an article about the Federal Government proposal to phase out the Net Medical Tax Offset, from 1 July 2013. You can read the entire article here.

Apologies

I will apologise in advance for any spelling or grammatical errors in this post, but I was on a deadline to get it finished, and I ran out of time to go back and check it! I'll try to organise myself better next week.