Author: prudentia

Largest natural gas produces by country from 1970-2021

See which country lead the worlds natural gas production at certain times in the last 50 years.

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NALI ‘not going away anytime soon’

SMSF trustees have been urged to start reviewing any potential non-arm’s length expense issues with the outcome of any future government consultation still unclear at this stage.

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Your guide to tax time

We’ve published a new small business tax time toolkit for 2022 to help you during tax time and throughout the year.

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Few will benefit from FBT exemption for EVs

Figures suggest the measure will reduce the cost for just a few thousand owners a year, says IPA.

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Only half of Aussies optimistic about their superannuation savings

Less than half of Australians believe their superannuation will alone be able to provide them with a comfortable retirement, according to a recent survey.

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Tax tips

The more detail you can give your accountant the quicker your tax return can be processed and, usually, the better the outcome. The following will help.

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ATO responds to GST case involving SMSF

The ATO has issued a decision impact statement on a recent decision that determined whether an SMSF was liable for GST on the sale of subdivided lots.

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How much time and money do you need to consider investing

There's a common misperception that in order to start investing, you need a large initial sum and lots of time. Here's why that's a myth.

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ATO statistics show 12 per cent jump in SMSF assets

The total value of SMSF assets has climbed to $892 billion during the 12 months to March, according to the latest ATO statistics.

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How diversification fights investor biases

Investing in familiar names may bring a sense of comfort but by focusing too heavily on the Australian market, investors may limit their opportunity set and forgo the benefits of greater diversification.

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Census 2021 Data

Search through the data collected by the Australian Bureau of Statistics, and find interesting facts about how the country is changing.

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Super Contribution Changes starting 1 July 2022

From 1 July 2022, there will be changes made to super to make it easier for Australians to grow their retirement savings.

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Super, Death, and taxes

An interesting finding in the federal government’s Retirement Income Review report is that many Australians are dying with the majority of the wealth they had when they retired. Having enough superannuation to enjoy a financially comfortable lifestyle in retirement is the aspiration of most Australians. As the super system continues to mature, and with the...

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State and Federal Disaster support — July 2022

The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet further national hardships. Disaster resources updated 01-07-2022 We have added some new links under States and Territories that help further outline what each is offering. Let’s hope the floods...

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Largest inflation rates by country in oceania

See how the inflation rates changed from 1960-2022

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Cryptocurrency is to receive a lot more attention from the ATO.

The following looks at three issues. All were raised in May and the topics covered are: ATO zeroes in on crypto investments; What is needed to manager a crypto tax return; and Deductions for crypto donations run tax risks. How does the ATO treat cryptocurrency? In Australia, individuals transacting with cryptocurrency may incur tax liabilities...

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Work test changes open up TBC strategies for couples

The contribution changes coming in on 1 July will provide more time for spouses in SMSFs to even up their balances and maximise their transfer balance cap, according to an advisory firm.

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Talking money with a partner

Here are some factors to consider before you join finances with a partner.

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Using trusts: Keeping it in the family

Trusts are used to hold assets for various reasons, but most typically for tax planning and asset protection purposes. Here's a little more insight into how trusts work.

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Make the most of these super opportunities before June 30

With only about four weeks left until the end of this financial year, now's a good time to check your superannuation options.

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RBA rate rise spurs mixed response from SMSF lenders

While the official interest rate increase has seen some SMSF lenders raise their interest rates, others are holding off for now.

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ATO flags changes to TBAR reporting

New rules are in effect, which will see changes to how SMSFs manage transfer balance lodgement.

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How Oil is used – Video: long but interesting

Once again Oil and its myriad by-products has been pushed to the forefront of news, global politics, and the cost of living so it seemed like a good time to remind ourselves of what Oil is all about. This video is quite long, there is a lot of detail in ‘Oil’ but it is interesting...

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SMSFs reminded on cryptocurrency risks as marketing intensifies

With cryptocurrency open to market manipulation and other risks, SMSF professionals play an essential role in educating clients, said a digital innovation expert. Peter Williams, chief edge officer, Centre for the Edge at Deloitte Australia, said that with Australians being inundated with ads for cryptocurrency, there are concerns that individuals, including SMSF trustees, may lose large amounts of money...

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Electric vehicles – How fast is usage growing?

In 2004, there less than 1,000 electric vehicles in use around the world.  Click on the video below to watch how that number grew over the next 15 years.

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SMSF account openings shift from self-directed to advised clients

The statistics have begun to change coming out of the COVID-19 pandemic, according to new findings from Australian Investment Exchange Limited (AUSIEX).

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ATO ramps up identity fraud detection for new SMSFs

Around a quarter of the individuals being identified as high risk under the ATO’s new registrant program have compromised identities, said the ATO.

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Weighing up value and growth

What's the difference between value and growth investing, and how can you incorporate these investment factors into your portfolio?

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ATO ruling may offer solution to NALE issues

Amendments being made to contribution ruling TR 2010/1 may provide a fix to some of the significant issues with the non-arm’s length expenditure rules, said the SMSF Association.

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How advice gets you closer to your goals

A recent Vanguard survey found that investors believed financial advice provides substantial portfolio, financial and emotional value, and got them closer to achieving their financial goals.

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Heathmont Financial Services Pty Ltd (ABN 68 106 250 104) trading as Heathmont Financial Services is a Corporate Authorised Representative (No. 262098) of Knox Wealth Management Pty Ltd (ABN 74 630 256 227), Australian Financial Services Licence Number (AFSL) 513763.

Julian McGoldrick is an Authorised Representative (No. 262098) of Knox Wealth Management Pty Ltd AFSL 513763.

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