Wealth Creation – Page 2 – 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

SMSF Borrowing – ATO imposes stricter guidelines

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Wealth Creation

Self-managed super funds (SMSF) have until 30 June 2016 to conform to the ATO’s new rules on related- party loans. A guidance paper released by the Tax Office stated that related-party loans e.g. family trusts or private companies to SMSFs now must be at interest rates of 7.75 per cent for shares and 5.75 per cent […]
Jan 01

Aged care considerations

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Wealth Creation

The decision to move into an aged care home is often a difficult one. With the loss of autonomy, and often the family home, it is an emotional time for the person moving and their family and friends. Planning ahead is essential to maintaining control and choice and minimising stress as there are a lot […]
Jan 01

Transition to retirement changes

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Wealth Creation

Transition to retirement (TTR) arrangements are set to be overturned or converted into full pensions following changes released in the 2016 Federal Budget. Under the proposed rules set to commence 1 July 2017, the tax on earnings in TTR pensions will change from zero to 15 per cent, the same earnings tax that applies to money […]