Farm Management Deposits are a risk-management tool to help primary producers deal with uneven cash flows. Uneven income is common in primary production businesses because of things such as natural disasters, climate and market variability. The FMD scheme allows primary producers to set aside pre-tax income from primary production in years of good cash flow to draw on in years of lesser cash flow.
You might have heard about In and Out Burgers in the U.S.A. I personally have never been there but I follow a financial planner - Jeff Rose from Good Financial Cents who is absolutely in love with this burger place which he believes is better than McDonalds.
Part of their allure is that they have a simple menu, so unlike McDonalds that has huge options, they have 3 burger options and that's it. Double Double, Cheeseburger and a Hamburger. That's it.
I was reading Ben Carlson's - A Wealth Of Common Sense blog last week and he has highlighted 50 ways that the world is better than it used to be. Out of all the points that he stated, this was the point that stuck out most for me.
A frequent question I get asked when talking to prospective and current clients is, " what would happen if you died?" A real risk of placing your trust with a wealth management firm is having your plans go into a tailspin if the inevitable happened to your trusted financial planner.
SMSFs will potentially be affected by the Federal Opposition’s recently announced intentions to remove the ability for excess imputation credits to be refunded (albeit with clarification that pensioners and some self managed super funds (SMSF) may be exempt from this change).
Getting your finances sorted begins with a budget and understanding your cashflow. See the steps required to own your cashflow so that you can control your finances and your finances not controlling you.
Given the financial demands of everyday life, planning your retirement may be a relatively low priority. You may also think that you have plenty of time to plan. But before you put off planning for your retirement any longer, here are some key facts you should consider.
“Don't sail out farther than you can row back.” This Danish saying is sound advice for anyone thinking of borrowing to buy a home, particularly now that interest rates are low and house prices are generally rising.
Did you know that in 2012/2013, in Australia, step and blended families accounted for approximately 6% of all families with children under 18. The days where mum, dad and 2-3 blood children made up the average Australian family are a thing of the past.
In today’s hectic world we often spend so much time worrying about the future or lingering in the past we forget to enjoy the present. But tuning into the wonderful things happening around us as they happen can be life changing.
Many clients are concerned of the affect of Donald Trump winning office of POTUS in the upcoming U.S. Elections. BT Investment Solutions have provided a one page description and explanation of how the Donald has progressed this far.
Check out how our firm has worked with a business client for over 15 years and implemented strategies to eliminate CGT and to provide a possible tax free income stream for this clients family. Excited? You bet I am.
Many people wait until their home loan is paid off before investing more in super. However, if you are currently making more than the minimum home loan repayments, you may be better off when you retire if you make additional super contributions instead.
If you’re like many business owners you have already insured the physical assets of your business from theft, fire and damage. But have you considered the importance of insuring yourself - and other key people in your business - against the possibility of death, disability and illness.
It’s really important to consistently focus on how to improve your personal finances, and there’s nothing like a deadline and the end of the financial year (EOFY) to aim for when it comes to tax planning.
Travel has evolved significantly over the past 20 years, with many travellers looking for something with more adventure such as walking treks in New Zealand, cooking experiences in Tuscany, cruising on the Mekong River, or travelling through Australia’s beautiful outback.
Economic growth of a meagre 0.2% last quarter, more than 770,000 Australians unemployed, paltry wages growth and a flailing sharemarket – is Australia going to be OK or could we be heading for a recession?
You may recall that in March this year, I spoke about The Greatest Gift of Being a Financial Planner. This seemed to be a straight forward case whereby the policy holder, met the definitions and was going to be paid his insured amount. Well, let me fill you in.
Everyone wants the best for their children. Providing a good education is a huge part of preparing them for the best possible future. But as education becomes more expensive, planning and budgeting for these costs becomes essential.
If you travel, especially overseas, you know the importance of travel insurance – lost luggage anyone? And if you have a car or motorbike then you know it’s a no brainer to insure your wheels. But there are other kinds of insurance even if you’re young, single and healthy today that are important to help you protect your lifestyle and independence.
The Australian Tax Office (ATO) has recently changed the way it assesses income earned by assets paid for by a Self Managed Super Fund (SMSF) borrowings. In some cases, income earned by assets in this category will be treated as non-arm’s length and won’t qualify for the tax concessions available within super.
Investment properties in Australia are being hit by falling rental earnings. So is it possible to still make money from investment properties? We consider the challenges and opportunities of the current Australian property market and how to navigate both.
The plight of a cancer sufferer may seem hopeless but the fight that I saw in this family showed a resolve that is captured in adversity. I mean real adversity. Not a market fluctuation where your capital drops by 20% or changes to legislation which means you may have to pay some tax. The realisation that nobody believes you can survive a terminal illness.
I was talking to a business client last week, and the topic of the value their current Accountant is delivering came up. So it got me thinking, what is the best set up for a burgeoning business? Based upon my experience, I believe that EVERY business owner should have their A-team around them.
Fraud is a serious problem in Australia. According to the Australian Bureau of Statistics’ latest figures, 1.2 million Australians were the victims of fraud in the year to 2010/2011, or 6.7 per cent of the population.
If you run a business, or you’re thinking of starting one, one of the first lessons you learn as a business owner is that cash is king. It’s the lifeblood of every business. Without it, it’s impossible to meet the obligations of the business, plan for the future or gain a real picture of the health of the enterprise.
It’s been more than five years since the worst of the Global Financial Crisis (GFC) hit equity and bond markets. While flow-on effects continue to affect financial markets, there are many lessons we have taken from the crisis that can be applied to wealth planning. Here are our top five lessons from the GFC to consider when making investment decisions.
Do you receive an income support payment from Centrelink? Then you need to know about changes that start from 1 January 2015 that have the potential to reduce your income support payments in the future.
Let’s take a look at what the changes are and who is affected.
I received a call this week from a client’s son. He is 19 and has just moved to Port Hedland in pursuit of the Great Western Dream as I call it. Adventure, work and a high paying salary, and as I keep saying to these hard workers, there is a reason why they pay you that much!
As the saying goes, money doesn’t grow on trees. But, just like nurturing a beautiful garden, if you give your nest egg the right attention throughout the seasons, it will grow into a substantial asset. Let’s take a look at what you need to do throughout the year to cultivate a great financial future.
Right now, residential aged care costs are heavily subsidised by the Federal Government. But, with the Government’s aged care costs estimated to double from $13 billion now to $26 billion by 2023/24, there will be substantial changes to the aged care system.
Investments, insurance and superannuation are some of the “things” people suggest are the main roles of what a financial planner can offer. In a transactional model, this would be a fair assumption. Generally, when the relationship with a financial planner is transaction based, there is less substance to the personal relationship.
In case you didn't know, I am a massive fan of Twitter. Unlike other social media platforms, Twitter is simple and effective. I can obtain information and communicate with all types of people without getting their permission and I can get most of my news from there. It really is a fascinating concept.
The Government co-contribution is an initiative that gives eligible low income earners the ability to boost their superannuation savings by matching personal non concessional contributions up to $1,000.
Income protection insurance comes across most people’s radar when they’re starting out in their career. Often, people take out this type of policy when they buy a house, so if a serious illness or a bad accident strikes, your children and your spouse are covered.
1 July 2014 marks the start of a new financial year. But it’s important not to leave wealth accumulation and wealth protection until the last minute. There are many things you can do in the lead up to the end of this financial year to prepare for the new one.
Grandparents really are the jewels in the crown of our community. Having raised their own children, many are now helping raise their grandchildren. This often extends to providing financial support to the grandkids. If you’re in this situation, how can you make sure your generosity is as financially effective as possible?
One plan of particular importance regardless of your life events is your financial plan. This living document helps you map out your income against the investment milestones you would like to achieve to help you reach and maintain your desired lifestyle.
As a nation, both our level of savings, as well as our level of investment, are higher than many other developed countries. But over the last five years there has been a shift in the relationship between how much we save and how much we invest.
When you read headlines about Australia’s rising unemployment or the slowdown in the mining boom, it’s easy to lose confidence in investment markets. But there’s a lot to be gained from ignoring the background noise and sticking to your long-term goals.
Low interest rates are giving many investors an added incentive to look at investing in property – either directly or through their SMSF. We look at some of the things you should look out for before you sign on that dotted line.
Planning for the future while you are still young can have a lot of benefits for you in the long term, particularly when it comes to your retirement. According to the Australian Bureau of Statistics (ABS), in 2006, 31% of young people in their twenties were still living with their parents, mainly for financial reasons.
When you take out life insurance, it’s an investment for your future. With that cover in place, you know that if you ever experience a serious accident or illness, you have financial support to help pay your medical bills and maintain your lifestyle.
I have been trying for years to poach the perfect egg. Don't get me wrong, nobody does an Eggs Benedict better than Sirocco in Ballina, but to be able to cook a couple of poached eggs on toast on a Sunday morning has always eluded me.
You’ve been paying the mortgage for a while now. It’s reducing steadily. So what now? Your number one commitment may still be to reduce your mortgage as quickly as possible. However, during this time there are other things you can do to secure your financial future.
Worldwide, women are increasingly making the key financial decisions — yet research shows they are often held back by a lack of confidence in their investment knowledge. Can financial advice help bridge the gap?
Every year around this time, a window of opportunity opens to help maximise your end of financial year tax strategies. And if you leave it too late, the chance to improve your financial position could go begging.
If you are one of the many Australians who does not have a current will, your family could be left financially vulnerable if you were to die unexpectedly. Having a valid will is important for everyone, but it becomes particularly essential in the event that you have dependents or a family.