Category: Latest News

Take action on valuations now to avoid delays, says ATO

The ATO is urging SMSFs to get their asset valuations done before their annual audit to help avoid delays and late lodgements.

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The advantages of investing early

You may have heard it said, "No risk, no reward." But did you know that time can actually decrease your risk while increasing your reward?

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Partial property sales eligible for downsizer

Superannuation fund members making a downsizer contribution do not have to sell the whole property or even move out of it after the sale, but cannot claim a contribution for land that has undergone a subdivision, a technical expert has advised.

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ATO provides cyber security tips for SMSFs

In the wake of the recent Optus cyber attack, the ATO and Australian Cyber Security Centre has outlined some important steps to help trustees keep their data safe.

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Four powerful ways to build investing confidence

Here are some tips that can help you build confidence in your investing approach, no matter what the markets are doing.

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Three tips for building a good portfolio

The first step to building a sound investment portfolio is to know why you’re investing

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ATO clarifies critical reporting deadline with TBAR transition

The ATO has clarified that SMSFs will need to report all unreported events from the 2022–23 year by 28 October 2023 once the new framework starts.

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How much money do I need to retire?

When I retire, will I have enough money to enjoy the retirement lifestyle I envision? It's a question many of us will need to ponder at one point.

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Pensions to face tougher scrutiny under new TBAR system

The move to the new quarterly based TBAR regime may see a clampdown on the backdating of pension documents, CFS has cautioned.

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Largest wind power producers in the world

Check out the worlds largest wind power producers from 1990 to 2021

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Withdrawal strategies before death require careful consideration

Professionals have been warned there is a “fine line” between member benefits and death benefits where a member plans to withdraw shortly before death.

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A retirement plan built to last

Staying the course, and not being distracted by short-term market events, is just as important in retirement as it is at any other time.

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A trio of trip-wires businesses should avoid, says ATO

  Wayward habits accentuated by the pandemic will be a compliance focus.  

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Strategic asset allocation: a timeless solution

While adopting a tactical asset allocation might seem tempting during bouts of heightened volatility, the timing and skill required to perfectly execute a portfolio shift is near impossible. Sticking to a strategic asset allocation however is likely to yield better returns.

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SMSFs warned on common mistakes with bare trusts

A specialist law firm has highlighted the importance of ensuring that the bare trust has been set up correctly where SMSFs are looking to borrow money.

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Tax Office homing in property deductions, SMSFs warned

With property deductions a big focus for the ATO this tax time, SMSFs have been warned on some of the pitfalls in this area that can land them in trouble.

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Preparing your kids for financial success

Teaching kids to establish sound money management skills and strong financial acumen is important, regardless of wealth level.

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Should you be getting advice?

From navigating market volatility to superannuation legislation changes to determining the right asset allocation, here's how financial advice can help investors optimise their portfolios.

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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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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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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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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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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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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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Largest inflation rates by country in oceania

See how the inflation rates changed from 1960-2022

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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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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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