When a couple breaks up, there are a lot of things to deliberate. Who gets to keep the slow cooker? How quickly can I get that ring up on Gumtree? Most importantly, what happens to the house…?
Month: August 2018
Setting Up Your Investment Trust%3$s>
By Pat Mannix
Property investment is a big thing in Australia, especially with the growth of the property market. I even do it myself.
If you are in a growing small business, however, you need to take a different approach to property investment.
BI is not BS%3$s>
By Pat Mannix
Business Intuition is not bulls***!
These are the five things you need to succeed as an entrepreneur.
Lawyers Are After You%3$s>
By Pat Mannix
Aussies are too ready to take legal action to settle disputes. If you haven’t got an asset protection strategy, then you better watch out…
Family Planning: Applying For A Home Loan With A Baby On The Way%3$s>
A new baby completely changes your life. Are you also prepared for how a new baby might affect your chances of buying a home? Here are some things to consider before you submit your application.
Small Business Can Get Into Trouble%3$s>
By Pat Mannix
Tax accountants are not your typical life savers. Although, on the odd occasion, our advice might just save you.
Are you prepared for if your business starts going downhill?
Death and Small Business CGT Concessions%3$s>
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.
The Small Business CGT Exemption After Death%3$s>
Under capital gains tax laws, if your business has continuously owned an active asset (i.e. business asset) for 15 years, you’re aged 55 or over and are retiring or permanently incapacitated, you may be able to sell the asset including the goodwill and not pay Capital Gains Tax. There are a number of tests to satisfy, but if satisfied then it is quite possible that any capital gain would be tax free.
Clothing Deductions Hung Out To Dry%3$s>
By Emily Kermac
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.
Interest Rates Remain At Record Lows%3$s>
NOW is the time to take advantage of these market conditions and negotiate your next property purchase.
Small Businesses Can Get Into Trouble%3$s>
By Pat Mannix
Imagine you have put all of your life savings into buying a business. You spend years dedicating your heart and soul towards it. You listen to financial advice and take every measure to do the right things. Still your business is failing. The figures are wrong. It’s heart wrenching. Our advice? Let it go. ASAP.
Give The Bloody Thing Up!%3$s>
By Pat Mannix
“Be determined, never give up!”
That’s RUBBISH.
The truth is that sometimes you need to say goodbye and give up.