We all get bombarded with information from every source possible and frankly, it's too much. Even if you haven't already flicked it into spam you probably don't have time to read it. We call it Information Overload. So, on this page we've selected big picture news items we think are relevant and of interest to our clients.
In the 1500s, people cooked in the kitchen using a big kettle that always hung over the fire. Every day they lit the fire and added things to the pot.
They ate mostly vegetables and did not get much meat. They would eat the stew for dinner, leaving leftovers in the pot to get cold overnight, then start over the next day.
“Inclusiveness and Diversity’’ rather than Diversity and Inclusion is the new concept being embraced in organisations looking towards highly effective cultures that will attract and keep the highest talent.
At a recent UTS MBA Womens Network Diversity and Inclusion Strategy Hack - we questioned the very name of our network and I suspect at our next meeting it will get a new name!
Illegal phoenix activity involves the intentional transfer of assets from an indebted company to a new company to avoid paying creditors, tax or employee entitlements.
The directors leave the debts with the old company, often placing that company into administration or liquidation, leaving no assets to pay creditors.
Please be aware that there are currently a number of phishing emails being sent around to individual users. These emails are attempts by scammers to trick you into giving out personal information such as Passwords, Bank Account Numbers, Log in Details etc.
As superannuation falls outside your estate, there are few items to consider in your estate plans.
Where there is a Power of Attorney, ensure it allows a trusted person to attend to changes to the superannuation balance if the member becomes ill before implementing advice.
Moving all your super from multiple accounts into one account (known as “consolidating your super”) might help you to save on fees and make managing your super easier.
There is around $18 billion in lost super that is waiting to be claimed from more than 6 million lost or unclaimed accounts.
If you are purchasing a property you are required to obtain a Clearance Certificate from the vendor if the contract price is greater than $750,000.
If you don’t get this Clearance Certificate you are required to withhold 12.5% from the purchase price and remit to the ATO.
Even if a sole trader’s income is below the tax-free threshold, the ATO requires business clients to lodge a tax return each year. Recently the ATO issued a media release reminding tax agents and business clients of this obligation.
For 2016 and 2017 tax returns the ATO has just announced that “bucket companies” may very well be a small business and that there is lack of clarity around the recent budget changes to small business company tax rates.
There has been a LOT of debate over the years about whether active fund managers add value, or whether you are better off investing into a low-cost alternative such as an Index Fund or Exchange Traded Fund (ETF).
The reality is not as simple or clear cut as the marketing teams from each side make it out to be. You should be very careful about what you invest into and therefore make informed decisions. Caveat Emptor is a phrase that is more important now than it usually is. In this article, we’ll look to explore why this is the case.