COMPANY DIRECTORS URGENT REMINDER Back in November of last year we advised you of the new requirement for Directors to register for a Director Identification Number. How Director ID Works A director ID is a 15-digit identifier given to a director (or someone who intends to become a director) who has verified their identity. Directors [...]
The 2023 Federal Budget focuses on providing cost of living relief through lower power bills, higher welfare payments and more support for small business and housing. Note: These changes are proposals only and may or may not be made law. Cost of living Energy bill relief: An electricity bill credit of up to $500 will [...]
Is the key to saving a home deposit as simple as giving up smashed avo toast for breakfast? Well not quite, but spending less does make a difference. On top of a budget, a savings plan and strategies such as a high-interest savings account, an effective way to save is to reduce or eliminate [...]
When people think of buying an investment property, many only think locally. Investing in a property interstate could possibly be a smarter idea, potentially resulting in a better return on your investment. it may also be a potential way to snaffle a bargain. You could be buying into an area with greater potential capital growth [...]
A perennial topic regarding tax deductions is claiming expenses for a car. The following notes summarise the most salient points when it comes to claiming a deduction for motor vehicle expenses. Of course, every person’s circumstances may be different, but the following covers most of the relevant information. Key points to keep in mind [...]
Rental yield – essentially the rate of rental income returned against the costs of an investment property is a great indicator of a property’s investment potential. But you need to keep things in perspective when you factor it into your decision to purchase property. Calculating rental yield A good first step in examining [...]
As a home owner with a mortgage, chances are you’ve heard of the term 'refinancing'. Refinancing involves reviewing your current mortgage, and potentially swapping your loan to another lender who can better meet your current needs, wants and circumstances. Refinancing can also allow you to consolidate your debts or pay down your mortgage more quickly. [...]
Loans are by no means ‘one size fits all.’ Different loan types suit different age groups, different living situations and even different attitudes to money. A common trap some home-owners fall into is to consider a mortgage ‘set and forget’. You did your research, shopped around, found the right option and now you’re reluctant to [...]
It’s one of the less glamorous home loan features, but the redraw facility deserves a second look. Here’s why: The redraw facility explained A redraw facility lets you make additional repayments to reduce your variable rate home loan balance and save on interest. If you pay more than your minimum scheduled repayments, then you’ll have [...]
If you’ve got super, chances are you’ll have some default insurance included and the option to buy more at an attractive price. It’s a cost effective way to get a basic level of cover, but holding insurance inside super does have some downsides. Forms of super insurance There are three types of insurance you can [...]
