Wealth Creation - Oracle Partners Accountants & Advisors Bondi Junction, Sydney

May 09

Federal Budget 2018 – Tax Measures

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Wealth Creation

Personal Income Tax Changes Personal income tax plan The Government will introduce a seven-year, three-step, personal income tax plan, as follows: Step 1: Targeted tax relief to low and middle income earners. The Government will introduce the Low and Middle Income Tax Offset, a non-refundable tax offset of up to $530 per annum to Australian […]
Jun 05

Giving loans to your children

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Wealth Creation

Increasing costs of living are seeing more and more adult children turn to their parents for financial help. Lending money to family is risky; something goes awry, and you end up out of pocket thousands of dollars. If you are financially capable of providing a loan and you choose to help your child, follow the steps […]
Jun 05

SMSFs: Preparing for the super changes

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Wealth Creation

With changes to superannuation coming into play from 1 July 2017, it would be wise for SMSF members to review their fund and take advantage of the opportunities currently available to them. Here are three tips for SMSFs during the lead up to 1 July 2017: Make the most of your super contributions SMSF members […]
Jun 05

Corporate vs individual trustee?

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Wealth Creation

Setting up a self-managed super fund (SMSF) requires members to choose between using an individual or a corporate trustee. Each trustee structure has varying requirements and implications for the members of the fund, so it is important to understand the differences. Members can choose up to four individual trustees or a corporate trustee, where a […]
Jun 05

Things to consider when buying off-the-plan

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Wealth Creation

Buying off-the-plan housing is becoming an increasingly common decision for first home buyers. There are a number of incentives for purchasing off-the-plan but there are also some serious considerations to be made before entering into a contract. Do your research Researching the property itself, the area and the builder/developer are extremely important. Area: make sure […]
Jun 05

Weighing up unit trusts

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Wealth Creation

Unit trusts are a way of holding assets and are most commonly used as a form of investment strategy. A unit trust is a particular type of trust that allows individuals to pool together their resources to improve their investment leverage. Each unit trust will have a trustee that decides how the money and where […]
Jun 05

Federal Budget 2017: Superannuation

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Unlike last year’s Federal Budget, superannuation was largely untouched in this year’s Budget. However, some slight changes were made to bolster the integrity of the super system. Limited recourse borrowing arrangements (LRBA) will be included in a member’s total superannuation balance and transfer balance cap, effective from 1 July 2017. From 1 July 2018, those […]
Jun 05

Taxation of defined benefit income streams

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The ‘defined benefit income cap’ limits the tax-free income one can receive from a capped defined benefit income stream and will be introduced as of 1 July 2017. The defined benefit income cap will be one- sixteenth of the $1.6 million general transfer balance cap ($100,000) for 2017-18. The following are instances of capped defined benefit income […]
Jun 05

Planning your estate

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Wealth Creation

Estate planning is an important aspect of managing your financial health. Having your affairs in order will help protect your assets and give you peace of mind. Here are four things to consider when planning your estate: Have a valid, up-to-date Will Preparing a valid Will is first and foremost. A Will helps ensure your […]
Mar 21

Preparing for the super changes

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Tighter superannuation rules will apply from 1 July 2017 as part of the super reforms announced in last year’s Federal Budget. The new rules include the introduction of a $1.6 million super balance cap for after-tax contributions; a maximum of up to $25,000 for concessional contributions; and the removal of the current “bring-forward” rule allowing $540,000 of […]