Latest News

Can I Claim Travel Expenses For My Rental Property?

Travel expenses relating to inspecting, maintaining, or collecting rent for a residential rental property cannot be claimed as deductions by investors. The travel expenditure is also not recognised in the cost base of the property for CGT purposes.

Big Four To Implement Out-Of-Cycle Rate Hike

Westpac Bank will increase variable interest rates for both residential owner occupied and investment loans, despite the RBA keeping the cash rate on hold for the past two years at 1.5%. 

Time Is Up For Dodgy Accountants

We absolutely love that the ATO has singled out the presence of about 500 dodgy tax agents in the Aussie tax community. The ATO assistant commissioner, Adam Kendrick, has recently spoke about these dodgy agents eating into market share of good quality, well trained tax agents…

Superannuation Guarantee Amnesty Proposal

A chance to catch up! If legislated, the Amnesty will provide a once-off opportunity for employers to disclose super guarantee (SG) shortfalls which occurred between 1 July 1992 and 31 March 2018 without penalty.

Economic Update August 2018

At the end of July, the Australian dollar bought 0.742 US dollars; an exchange rate that was almost unchanged from the end of June.

Role-Reversal: When Your Parents Are Relying On You

In the later stages of life, many seniors want to stay independent for as long as possible, but there usually comes a time when they need more support. So how can you do more for your parents to keep them safe and comfortable, without taking away their sense of independence and dignity? Here are some practical tips to guide you through the process and minimise stress for everyone involved:

Retire On Your Own Terms

Retirement should be the start of a new chapter in your life – perhaps the most exciting of all. The big question, of course, is how you pay for it without a regular pay cheque. A simple way to think about retirement income is by splitting your needs into two parts:

New Rules To Benefit Those Downsizing For Retirement

Australians aged 65 and over who are downsizing for retirement can now contribute the proceeds from the sale of their main residence (up to $300,000) into super.

We take a look at what this could mean for you, bearing in mind that like with all important financial decisions, it’s a good idea to get financial advice before deciding what’s right for you.