Author: prudentia

Related-party property development concerns — Part 1

In the first article of a four-part series on SMSFs and property development, I focus on related-party leases and how to keep them compliant.

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The value of financial advice

A 16-year study by Vanguard Investments that found a financial adviser effectively adds around 3% to the value of a client’s portfolio over time.  This is on top of normal investment returns.  

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A super catch-up plan

It's a number that can only be described as mindboggling: $400 million a day.

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Court decides on taxable capital gains distributions

The Federal Court has determined whether trusts that distribute capital gains to non-resident beneficiaries are taxable and will need to be included in their assessable income.

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Do your investment goals stack up?

There's an old saying, to only focus on the things in life that you can control.

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SMSF liquidity lessons learnt from the pandemic

Sometimes it is true that you don't know what you've got.  ​Till it's gone.  Music aficionados will recognise that line from Joni Mitchell's 1970s hit Big Yellow Taxi.

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Retirement income framework deferred due to COVID-19

The government’s introduction of the Retirement Income Covenant scheduled to start on 1 July has been deferred to allow continued consultation and legislative drafting to take place following the coronavirus crisis.

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Record-breaking crash, rapid rebound …

Is this a recovery or “dead cat bounce”? Covid-19 sparked the fastest stock market crash on record, when the Dow Jones Industrial Average index of US stocks (‘the Dow’) fell by over 30% in only 25 trading days from 6 February. Even in the Great Depression, it took almost twice as long to fall this...

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Covid-19 resources

Multiple sources of help and explanation the relief packages and programs our Governments have recently. All relate to Covid-19 so that you don't have to hunt for information or miss out.  Your accountant can help with any question you have.

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A Toast To Survival

I’m normally a social girl I love to meet my mates But lately with the virus here We can’t go out the gates. You see, we are the ‘oldies’ now We need to stay inside If they haven’t seen us for a while They’ll think we’ve upped and died. They’ll never know the things we...

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Will your Trauma Insurance pay out on Prostate Cancer diagnosis?

Trauma insurance, also known as Critical Illness cover, will pay a benefit on diagnosis of certain medical conditions regardless of whether you can or can’t work. It is one of the easiest policies to claim on but is also the most expensive. Whether a Trauma policy pays a benefit will depend on the definitions in the...

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How to stay the course in retirement

In the past few weeks, we have seen economies be brought to a standstill by COVID-19, unprecedented social measures announced by governments around the world, and a new, unusual rhythm of living that many of us are still settling into.

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Consumer satisfaction up for SMSFs, down for industry funds

New data from Roy Morgan has shown self-managed superannuation and public sector funds both increased their customer satisfaction rates in March, despite significant market upheaval, but their industry and retail counterparts were not so lucky.

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Our Website, your resources

Coronavirus resources have been added to the many others we supply our clients.  Resources such as many latest news articles, educational videos (updated recently), client portals, calculators, and stock prices.  You have 24/7 access to all these tools and resources.  Any question, simply ask. *

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Superannuation for younger investors

The Australian superannuation industry has been in the headlines almost every day in the past few weeks, with the Federal Government predicting that as many as 1.7 million people will look to access their superannuation early as part of COVID-19 relief measures.

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AFP teams up with ATO, Treasury in COVID-19 tax fraud taskforce

The Treasury has confirmed that it will be working with the ATO and an Australian Federal Police taskforce in investigating any cases of fraud related to the government’s COVID-19 stimulus measures.

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ATO extends initial JobKeeper payment deadline

Employers looking to enrol for the first two JobKeeper fortnights have now been granted a further extension of time to enrol and pay employees.

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ATO releases JobKeeper alternative test

The alternative decline in turnover test rules for the JobKeeper payment scheme has now been registered by the ATO.

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How early super withdrawals add up

The coronavirus pandemic is having profound effects on Australian families, communities, businesses, the financial markets and the global economy.

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Government announces mandatory code for rent relief

News release 7th April 2020. Prime Minister Scott Morrison has revealed that he has reached an agreement on a mandatory code for the provision of rent relief by commercial landlords to tenants. In a press conference on Tuesday, 7 April, Mr Morrison said the mandatory code agreed to with the national cabinet will be legislated...

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COVID-19: Early Childhood Education and Care Relief Package

From Monday 6 April additional support for Early Childhood Education and Child Care Services and their families.

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ATO clarifies COVID-19 rent relief concerns

The Australian Taxation Office has responded to widespread concerns on whether SMSF landlords providing rent relief to tenants due to the financial impacts of the novel coronavirus is a contravention of the SIS Act.

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SMSFs in the ATO firing line

Is your self-managed super fund fully compliant with the regulations governing the operation of private funds?

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Avoid SISR traps in early access to super scheme

A law firm has warned trustees to consider several factors to ensure they’re complying with the Superannuation Industry (Supervision) Regulations 1994 (SISR) before deciding to access the government’s early access to super scheme.

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Data so large it’s hard to comprehend.

The following website gives the running totals for many everyday categories and the numbers are almost, if not, overwhelming when seen on a global scale.

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Ride the market to recovery

Severe market downturns feel anything but fair. In many ways the biggest risk facing investors now is the impulse to take action and to make hasty, short-term decisions based on emotional factors rather than accepting where we are today and riding things out.

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Historic $130bn wage subsidy to cover 6 million workers

Prime Minister Scott Morrison has now unveiled an extraordinary $130 billion wage subsidy which will see businesses receive $1,500 a fortnight per employee for the next six months.

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Stage 2 – Covid-19 stimulus package.

Detail on what the second stimulus package means to your hip pocket, Centrelink payments and staff retention.

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Covid-19 Update – Small Business

Small businesses will be the hardest hit by the ramifications of Covid-19.  The following is more information to help small business owners better understand some of the business support that's now available.

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PM launches $17.6 billion virus stimulus plan

The Prime Minister has announced a stimulus plan to curb the economic impact of the coronavirus and keep “Australians in jobs and businesses in business”. 

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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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