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Blog

Am I taxed on an insurance payout?

Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and is not income assessed for tax purposes – but this is not always the case.

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Cryptocurrency

ATO sheds light on crypto compliance focus

The Australian Tax Office has issued guidance on accurately accounting cryptocurrency transactions during tax time. It noted that it will be looking to make sure that all crypto capital gains are reported correctly.

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Strategic Financial Advice

A family affair: Children, super contributions and SMSFs

The potential increase in members from four to six a in self-managed fund has led to many to consider about whether it is worthwhile to have children as members of the parents’ or ‘family’ SMSF. The options are: should the kids join the fund, have their own, or go elsewhere to an industry or retail fund.

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Good News Super Contributions Caps To Rise 1
Strategic Financial Advice

Good news – Super contribution caps to rise

On 1 July 2021, both the concessional and non-concessional superannuation contribution limits, also known as ‘super contribution caps’, will rise.
This is good news because this is the first time these limits have changed since 1 July 2017, when the concessional contributions cap was reduced to $25,000 pa for the 2017/2018 financial year and onwards.

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Strategic Financial Advice

Learning the lessons of 2020: An extraordinary year

When the COVID-19 pandemic hit Australia in March 2020 it brought immediate and severe financial gloom. Shares plunged 37% and the economy slumped to its first recession in nearly 30 years. However against that backdrop, 2020 turned out far better for diversified investors than initially feared.

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Why Insurance Is Important 1
Strategic Financial Advice

Why insurance is important: real benefits for you and your family

Insurance plays a central role in providing financial security for you and your family when it’s needed most.
You insure your car and your home. But nothing is more important than your life and your ability to make a living. So it makes good sense to insure your greatest asset – you!

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Saving For Your Childs Future 1
Strategic Financial Advice

Saving for your child’s future

As every parent knows (even before they become one), raising a child isn’t cheap. And those expenses don’t necessarily stop once they reach 18. Parents often hope to help their adult children with significant financial milestones in life too.
In this article we look at some of the main expenses for parents, how you can start saving for your child’s future and the different ways to go about it.

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Economic Update
Strategic Financial Advice

Economic Update and Market Commentary

Risk assets including equities and credit continued to power ahead in April. Locally, the share market and the Australian dollar were supported by rising commodity prices.
Investors continued to monitor Covid cases and the pace of vaccine rollouts worldwide. Thankfully there remain very few infections in Australia, although rising numbers elsewhere has provided a reminder that the pandemic is far from over.

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Small Business

SGC going to 10% on 1 July 2021

When the compulsory SG contribution payments are increased to 10%, you will need to alter your payroll systems to pay the new increased rate to your eligible employees.

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Small Business

The New Lifetime Director IDs

Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.

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