Wealth Creation - Page 2 of 4 - Oracle Partners Accountants & Advisors Bondi Junction, Sydney

Mar 21

Why use a BDBN?

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Wealth Creation

Using a binding death benefit nomination (BDBN) can provide members with the peace of mind knowing that their superannuation will be protected and properly distributed in the event of their death. A binding death benefit nomination is a legally binding written document which outlines who you wish to receive your superannuation benefit if you were to pass […]
Mar 21

Preparing to help out parents financially

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Wealth Creation

When providing financial assistance to parents, it is important to consider all possible outcomes and document intentions carefully. For those planning to give their parents significant help, there are a number of options available. However, to decide on the right option, holding a family discussion to discuss the relevant aspects of a strategy and documenting the […]
Mar 21

Investing in property through an SMSF

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Wealth Creation

It is vital for those with a self- managed super fund (SMSF) to carry out the necessary checks before purchasing a property in their SMSF, especially where borrowing is involved. Investment strategy The SMSF’s investment strategy must be considered. If the purchase of a property will cause the fund’s other investments to be out of alignment, […]
Mar 21

Common errors when investing

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Wealth Creation

Whether you are a first-time or experienced investor, the stakes are high when it comes to investing. Even the most savvy investors can fall into the trap of bad investment habits. Although there is no guaranteed formula for investment success, there are some mistakes to watch out for: Chasing performance Basing investment decisions on strong, […]
Mar 21

Boost your retirement savings

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Wealth Creation

Pre-retirees can take advantage of a range of strategies to boost their nest egg. Here are three popular ways to top up your retirement savings: Maximise contributions Take advantage of the concessional (pre-tax) and non-concessional (after-tax) contributions by contributing as much as you can afford before reaching the caps. From 1 July 2017, the annual concessional […]
Mar 21

Reverse mortgages: a retirement solution

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Wealth Creation

Changes to the age pension assets test have left many retirees looking for alternative sources of income to fund their retirement. On 1 January 2017, the assets test limit for part age pension rates dropped to $542,500 (from 793,750) for singles, and $816,000 (from approximately $1.1 million) for couples; and the taper rate doubled to $3 […]
Mar 21

Protecting your finances after separation

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Wealth Creation

The end of a relationship is a particularly difficult time for most individuals – among the emotional pain comes burdensome administrative tasks, such as sorting out finances. Although these tasks may seem tortuous; it is best to address financial issues promptly to safeguard your finances against misuse and ensure peace of mind. Here are three […]
Jan 01

Reverse Mortgages

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Wealth Creation

Even though reverse mortgages can help fund a comfortable retirement, retirees should consider all aspects of this potentially life- changing financial decision. A financial dilemma that is increasingly being shared by Australia’s ageing baby boomer generation is finding a way to fund a comfortable retirement lifestyle, without having to sell the family home. One solution is […]
Jan 01

Implications for short-term rentals

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Accounting & Tax, Wealth Creation

Airbnb and other popular short-term accommodation services, can be a great way to generate some extra income, however, hosts need to be aware of their obligations and rising legal and regulatory issues. Before creating an Airbnb listing, or renting out your home to short-term tenants, it’s important to do your research, there may be certain […]
Jan 01

Succession planning for family businesses

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Wealth Creation

Developing a sound succession plan can be a tricky process, especially for business owners looking to handover the business to family members. A succession plan will help to determine your business’ capital value, worth and market price to ensure a smooth transition out of your business. Early planning can help to maximise the value of […]