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Sacrifice your mortgage to build wealth

Back in the days of “normal” interest rates the simple answer to the question “what do I do with any surplus savings?” was “pay off debt”. That’s still a sound strategy for anyone paying high rates of interest on credit cards…

Managing your superannuation transfer balance account

Most people think of retirement as a time to put your feet up and relax, but it can also be a time when pre-retirees and retirees alike actually need to flex the grey matter. With all the rules and regulations swirling around the superannuation…
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New insolvency reforms to support small business

The Australian Government has made changes to the ATO’s insolvency framework to help more small businesses restructure and survive the economic impact of COVID-19. The insolvency system is facing a number of challenges: An increase…
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When it comes to real estate and CGT, timing is important

When you sell or otherwise dispose of real estate, the time of the event (when you make a capital gain or loss) is usually when one of the following occurs: You enter into the contract (the date on the contract), not when you settle. The…

Some money is not counted as ‘income’ by the ATO

It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. Although some of these amounts may be used in other calculations, and may therefore need to be included elsewhere in your tax return. The…
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Giving the gift of investing

Did you have a savings account when you were young? It wasn’t uncommon and those old Passbook accounts funded many a first car. Now you’re a parent, are you thinking of opening an account for your kids? Record low interest rates have…
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The unreachable Australian dream

Predictions of substantial falls in housing prices. At one extreme CBA estimated that, in its worst-case scenario, home prices could fall 32%. Even a more modest scenario pointed to housing prices falling by 11% over three years. Such predictions…
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Why ‘low-interest’ is causing high interest in property

Buying an investment property is a well-worn road to riches for many Australians. Despite a few ups and downs residential housing has delivered strong returns over many years, and experts predict property prices will continue to rise in the…
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A hand up for small businesses on cash flow

The ATO has produced a “Cash Flow Coaching Kit”, which is a free resource and designed as a value-add advisory tool for small business owners. It does not replace any existing accounting or financial tools, although it can be used…