How to avoid an ATO audit
While there is nothing pleasant about being audited by the Australian Tax Office (ATO). Even in a best-case scenario, it creates stress and chews up time and energy. At worst, if the ATO decides you’ve failed to disclose important information or misrepresented your financial situation, the financial penalties can be significant.i While there is no […]
Budget your way into the black
$2.2 trillion. That’s how much Australian households owe right now, according to the latest ABS stats.i Household liabilities grew by $1.2 billion in the last quarter alone. Real household debt per person has risen steadily by around 2 per cent per year, and now sits at around $79,000 per person.ii Sound scary? The good news […]
Can I give a Christmas gift to my clients?
At this time of year it is common to provide gifts to existing clients and customers as an act of goodwill and as a thank you for their custom and support of your business. As the gift is an expense to your business it is generally considered to be a tax deduction. The ATO has […]
Maddern Financial Advisers shortlisted for Optus My Business Awards
Maddern Financial Advisers has been shortlisted as a finalist to win an award in the category: Professional Services Business of the Year, at the Optus My Business Awards 2016, hosted by My Business, Australia’s longest-running publication tailored to the small business community. Founded in 2003, Maddern Financial Advisers offers superior Independent Financial and Accounting advice […]
Keys to de-stressing your mortgage
“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 in most metropolitan centres of Australia. According to a paper1 for the Centre of Policy Development and University […]
Financial Commentary and Investment Opportunities for September 2016
Today, in our monthly video newsletter, Dennis speaks about current economic issues and three major investment opportunities for Australian investors.
Tax and the family home
Australians love property and for the property owners among us, it’s been a nice feeling watching market values rise. It’s worth remembering though, the tax man could want a share if you sell. Unless the property is your primary residence, you could find capital gains tax (CGT) taking a cut of your profits. CGT applies […]
Buying a business
Set yourself up for success Many of us dream of running our own business, with all the independence and satisfaction that offers. While striking out on your own can be personally and financially rewarding, getting off to a good start is crucial to success. So if you are seriously thinking about becoming your own boss […]
End of Financial Year Checklist
Planning for the end of the financial year is a little harder this year, with a federal election just days later which could result in sweeping changes to superannuation, negative gearing and business taxation. All the more reason to get on the front foot to make the most of the current tax arrangements while you […]
Cyber Fraud + Tax. What you need to know.
From fake Tax Office “delayed return” or “proof of identity” emails to telephone calls conveying similar requests, taxpayers have had to keep their guard up. So how can individuals and businesses protect themselves from online fraud and crime? Why are cyber scams on the rise? Scams have always been around in some form or another, […]