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Have You Included Your Pets In Your Will?
Most people consider their pets to be a part of the family. In this case, a pet should be treated like so when you pass away. But, most Australians forget to include those with furry, hairy, feathered or scaled appearance in their will.
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DIY Will Kits And Their Dangers
Making your own will may sound like a good idea in theory, but the reality is that it might not count for anything in the end. Here are the most common issues associated with home-made will kits.
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Business Intuition Is Not Bullsh!t
Our multi-millionaire clients all have five things in common. If you plan to boost your bank account to seven or eight figures, read on.
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Separating With A Mortgage
When a couple breaks up, there are a lot of things to deliberate. Where are you going to burn the romantic photos? Who gets to keep the slow cooker? How quickly can I get that ring up on Gumtree? Most importantly, what happens to the house…?
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Family Planning: Applying For A Home Loan With A Baby On The Way
Purchasing a home and having a child are two of life's most stressful events. What on Earth happens when both are occuring at the same time?!
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Death and Small Business CGT Concessions
They say that two things in life are inevitable – death and taxes. This doesn’t mean that the two have to happen at the same time. Generally where there is a change of ownership in small business, a CGT event is deemed to have occurred which may result in a capital loss or taxable gain. When a person dies, their assets are transferred to their legal personal representative (LPR) or are acquired by a surviving joint tenant, if one exists, and as such the Capital Gains Tax rules apply.
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The Small Business CGT Exemption After Death
Fortunately for your spouse or children, the assets will still be eligible for the 15 year exemption to the same extent that the deceased would have been just prior to their death.
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Clothing Deductions Hung Out To Dry
The ATO says that clothing claims are up nearly 20 per cent over the last five years with people either making mistakes or deliberately over-claiming. Common mistakes include people claiming ineligible clothing, claiming for something without having spent the money, and not being able to explain the basis for how the claim was calculated.
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