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The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue. A big part of the problem is how taxpayers are claiming interest on their investment property loans. – Redrawing investment loans.
In this article, we explore how you can protect your finances against the impacts of an economic recession. – Fortify your finances: A recession survival guide.
This article discusses the aspiration of early retirement and emphasises the importance of planning and dedication to achieve this goal. It highlights key steps, including assessing one’s financial situation, creating a tailored financial plan, minimising unnecessary spending, and diversifying investments to ensure a comfortable retirement lifestyle. – Roadmap to early retirement.
This article focuses on mortgage lenders for home loans and provides tips and some alternatives to consider. – Switching mortgage lenders.
This article outlines easy ways to inspire good financial habits of goal setting, paying down bad debt, budgeting, savings plan, and insurance. – Harvesting financial success.
Managing debt can be challenging, especially when interest rates are involved. Understanding the impact of interest rates on debt is crucial to help individuals make informed financial decisions. This article explores how interest rates affect managing debt and provide some tips on how to navigate these challenges. – The impact of interest rates on managing debt.
This article focuses on the economic news from the September quarter of 2023. It touches on Australia’s inflation rate, oil prices, the Reserve Bank, house ownership and the possibility of a recession. – Insight Advisory Group – Quarterly Economic Update: Jul – Sep 2023 – Inflation.
In this article, we will cover five essential steps to get you started on your journey to mastering the art of investing… You’ll be the Da Vinci of investing in no time! – Mastering the art of investing.
This article explores the age pension, compulsory superannuation, and voluntary savings. With many retirees unaware of these potential income sources, we delve into the significance of each and how they can work together to secure a stable financial future during retirement. – Retirement income 101.
This article outlines the proposed objective of super in the recently released draft legislation, outlining sustainability, equitability and the preservation of savings to deliver income for a dignified retirement. – Legislating the ‘objective’ of super.
Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian Taxation Office estimates – a figure the Government and the regulators are looking to dramatically change. – Workers owed $3.6bn in super guarantee.
This article examines a real-life case to reveal how caregivers juggle financial pressures and emotional challenges. It stresses the importance of caregivers looking after their own well-being, offering practical advice on accessing vital financial assistance. – The challenges of being a carer.
A recent case before the AAT demonstrates how fine the dividing line is between GST-free and taxable foods. – When is food GST-free?
Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances above $3m from 15% to 30% from 1 July 2025. – 30% tax on super earnings above $3m.
The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim. – Self-education: What can you claim?
This article focuses on a recent statement by the Victorian Government regarding Australia’s first short-stay property tax that targets property investors with short-term rentals. – Short-term rentals and the ‘Airbnb’ tax.
This article focuses on the new, limited incentive, which nudges business’ towards energy efficiency. We show you how to maximise the deduction! – Energy Efficiency: Claiming your $20k deduction.
This article focuses on a recent case before the Administrative Appeals Tribunal (AAT) is a reminder about the tax impact of the timing of employment income. – The taxpayer who was paid too late.
This article outlines the TikTok tax scandal that saw the ATO pay out $1.7 billion in fraudulent refunds and another $2.7 billion in fraudulent claims stopped. – Business Activity Statements and the billion dollar TikTok scandal.
What will the Australian community look like in 40 years? We look at the key takeaways from the Intergenerational report. – Intergenerational report.