Author: prudentia

Working from home safety and wellbeing checklist

You and your business can still be held responsible for injuries that happen in the home while carrying out work-related duties. So, just as you audit your workplace for OHS issues, you must audit any home workspace used by you or your employees. In most instances employees can do their own home OHS checks to...

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SMSFs, employee share schemes & NALI

Acquiring shares under an employee share scheme (ESS) via your self managed superannuation fund (SMSF) may appear attractive but greater uncertainty has arisen following the ATO’s recent ruling, LCR 2021/2, on the application of the non-arm’s length income (NALI) rules to such a transaction.

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How do you quantify the value of advice?

A question a lot of clients ask themselves – is the cost worth it? I have been working in the financial planning industry for the past 16 years and 10 of those years running a boutique financial advice firm and working with clients from different walks of life. I know the value I add to...

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ATO extends COVID-19 relief for SMSFs

The ATO has made an extension to several COVID-19 compliance relief for SMSFs to cover the 2021-22 financial year.

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The right way to rebalance your investment portfolio

Vanguard research has found that for portfolios supporting long term goals, the exact time and threshold limits you decide upon are less important than the discipline of adhering to a consistent approach.

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Three ways to keep market uncertainty in perspective

No one can say for certain what the markets will do. What we do know however is that investors fare best when they focus on the factors they can control.

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SMSFs can face situational traps affecting related-party transactions with former spouse

SMSFs will need to take a more cautious approach when managing related-party transactions especially around a former spouse, as several traps may arise due to situational changes when considering the application of super laws, according to a law firm.

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Low interest rates require a strategic rethink

In an era of lower-for-longer interest rates and investment returns, retirees in particular should be thinking beyond just income generation to fund their lifestyle spending.

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SMSFs, employee share schemes & NALI

Acquiring shares under an employee share scheme (ESS) via your self managed superannuation fund (SMSF) may appear attractive but greater uncertainty has arisen following the ATO’s recent ruling, LCR 2021/2, on the application of the non-arm’s length income (NALI) rules to such a transaction.

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State and Federal COVID-19 support

  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 more COVID-19 restrictions.  

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Two AAT decisions on what constitutes business real property

  Two recent AAT decisions shed important light on what constitutes business real property: Allzams Trust and Commissioner of Taxation [2021] AATA 2767 and Allen and Commissioner of Taxation [2021] AATA 2768.  

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A proven way to build wealth

  Reinvesting income distributions and having the discipline to contribute regularly is a powerful way to build wealth, as evidenced in Vanguard's 2021 Index Chart.  

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The rise of the female investor

  While society continues to grapple with the factors driving gender and pay inequity, women are proactively turning to investing more than ever before. And in doing so, they are demonstrating a very competent and sensible approach to building up their wealth outside of superannuation.  

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Retirement can be risky business

  Retirees face a variety of risks in retirement including market risk, inflation risk and longevity risk. Here are some strategies to help mitigate them so you can achieve financial peace of mind.  

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ATO flags availability of COVID-19 early release super recontribution

  Individuals can now recontribute amounts they withdrew under the COVID-19 early release of super program.  

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Greenhouse gas emission by country since 1880

The total sum of CO2 emissions since 1880 (in tons).  Food for thought, that’s for sure.

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Current Sydney outbreak and what it means for portfolios

With the Covid-19 situation in Sydney continuing, there are concerns not only in regards to the impact on all our daily activities, but also the flow on effects to the economy and the Australian share market (and our portfolios).  As the situation evolves, it is a reasonable expectation that we may see higher levels of...

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6-member SMSF registration availability to begin mid-August

  SMSFs will be able to add a fifth or sixth member to the fund using the Australian Business Registry from mid-August.  

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ATO zeroes in on SMSF lifestyle assets

  The ATO will now have information on an individual’s new $65,000 car or their $100,000 boat as it looks to flush out tax dodgers who aren’t being completely honest about their financial affairs.  

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SMSFs go for growth

  SMSFs are looking to invest more in equities and less in cash in this low-yield environment, according to the Vanguard/Investment Trends 2021 SMSF Investor report released last week.  

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SMSF members highly satisfied with funds

  SMSF members are highly satisfied with their choice of superannuation fund and the sector has topped satisfaction ratings across all types of funds.  

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SMSF scams are on the rise: Here’s how to fight back

  The growing prominence of SMSFs has made them a ripe target for scammers.  

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Four steps to plan for a better retirement

  Here is a practical approach to creating a retirement plan that will help enable financial peace of mind.  

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Videos and other resources for our clients

Making our website into a valuable resource for our clients is very important to us. Educational videos on financial planning topics. Every 12 weeks the current range of 6 videos is changed for another 6. All are relevant and interesting. Ensure you and your family are able to learn about many topics related to financial...

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‘Mammoth consequences’: ATO’s NALI ruling draws ire from professionals

The recent ruling on non-arm’s length income (NALI) in super funds by the ATO will have far-reaching consequences for the superannuation sector, according to industry experts. First issued as a draft in September 2019, the finalised Law Companion Ruling 2021/2 issued on Wednesday, which clarifies the ATO’s interpretation of amendments to NALI rules relating to non-arm’s length expenditure...

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Lockdowns and mental health

Victoria enters sixth lockdown as state’s cases grow; NSW records 262 new local COVID-19 cases, five deaths.  Lockdowns to end once 80 per cent of the population is vaccinated against COVID-19 yet today some 60% of Australians are in lockdown. Depression and anxiety were already part of life for some but COVID-19, and the resultant...

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Business Structures

Get help choosing a business structure that can give you tax benefits and protect you financially.  You can change the structure as your business changes. When you first start a business, you’ll need to decide on its structure. Your business structure identifies how you operate as a trading business. It’ll affect things like: who can...

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World’s largest armies 1816 – 2020

Every month we add a slice of interesting trivia for you and August is no exception.  All we’ve added is great for trivia competitions, especially if you get to draft the questions.  Please click on the image to view more.

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Tax time: calculating investment income and deductions

  Here's a check list of what you will need to include in your 2020-21 income tax return.  

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Five investing tips for beginners

  Here are five investing tips for those who are just beginning their investment journey.  

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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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