Protecting you and your family – what you need to know
Insuring your car, home or other possessions makes sense. So why do so few of us insure ourselves? If illness or injury stopped you from working for an extended period, could you keep paying your bills? Personal risk insurance gives you peace of mind that if the...
Aged care planning
When the time comes to help a loved one into an aged care facility, it can be confusing and emotionally challenging for everyone involved. You know you want the best care, but the practical issues also need to be considered. Is the preferred aged care facility...
Repairs to a rental property formerly used as a home
In recent years, there has been an increasing tendency for home owners to use an existing home as a rental property, especially where a new home has been purchased. In these situations, it is common for taxpayers to undertake repairs and maintenance to their...
Having a plan is crucial for long term survival
Whether your business is highly profitable, struggling or somewhere in between, having a plan or process on how you are going to improve and innovate is crucial to its long term survival or the value you can sell or pass on to the next owners. Right now, it is...
Asset protection a serious consideration
Are your assets protected? Due to a number of factors, asset protection has become an increasingly important issue for both business owners and individuals. Increased litigation, tax office audits, relationship breakdowns, reliance on complex finance and...
What is a ‘Gift and Loan Back’
The ‘gift and loan back’ approach involves the owner of an asset gifting their equity in the property to a family trust (or low risk spouse). The family trust then lends an amount of money to the owner and takes a secured mortgage over the property. How does...
Holding insurance through your SMSF – what you need to know
Insurance is an important consideration for all of us. But for SMSF trustees, there is also a legal requirement to consider the need to hold insurance cover for each of their members. This article will give you valuable information that you need to know about holding...
Structuring assets within a SMSF – what you need to know
When investing on behalf of a Self Managed Superannuation Fund (SMSF), you may have the option of: Holding all assets in one investment pool to meet the fund’s overall objectives (the un-segregated assets approach). Separating assets into two or more pools to...
Succession or Exit Planning
Whether you plan for it or not, one day you will leave your business. A succession, or exit plan outlines who will take over your business when you (or a business partner) leaves. Having a plan means that you can decide when and how you leave and what will...
Pre-retirement Pensions – a case study
David earns $50,000 per year as salary and has accumulated $300,000 in super. Now he’s reached the age of 55 and he’s started to think about his retirement plans. On one hand, he would like more time now to play golf, go fishing and spend time with his...