Wealth Creation – Page 3 – Oracle Partners Accountants & Advisors Bondi Junction, Sydney

Jan 01

Succession planning for SMSFs

Oracle Partners

0 Comment

Wealth Creation

A mandatory component of managing a self-managed super fund (SMSF) is planning out what will happen to the fund if its trustee was to pass away. While succession planning may not be one of the first responsibilities that comes to mind when managing an SMSF, it is a necessity that can provide certainty and peace of […]
Jan 01

Testamentary trusts: an overview

Oracle Partners

0 Comment

Wealth Creation

A testamentary trust is an effective estate planning tool that can provide greater flexibility when it comes to protecting assets and minimising tax when distributing assets to beneficiaries. Testamentary trusts are trusts that are established through an individual’s Will that do not come into effect until the individual has passed away. The trust outlines a structure […]
Jan 01

Tax risks of the granny flat

Oracle Partners

0 Comment

Wealth Creation

Adding a granny flat to a property is becoming an increasingly popular option among homeowners and investors alike. While a range of granny flat scenarios and arrangements can provide additional living space and potential rental-income, consideration must be given to the various tax implications and financial ramifications before adding such a building to your property. Under […]
Jan 01

Investing for the long haul

Oracle Partners

0 Comment

Wealth Creation

Investment bonds are a practical investment option for those who earn a high income and seek long term tax efficiencies Investment bonds, also known as tax-paid, insurance or growth bonds, work similarly to a managed fund, except they are combined with an insurance policy. There is a ten year rule which allows tax free earnings […]
Jan 01

Transition to retirement changes

Oracle Partners

0 Comment

Wealth Creation

With the Federal Government’s proposed changes to the transition to retirement (TTR) pension to take effect from 1 July 2017, those with existing arrangements should review them to avoid impact on their retirement funds. Following changes in the 2016 Federal Budget, from 1 July 2017, transition to retirement (TTR) pensions will no longer receive a tax-free […]
Jan 01

Using the re-contribution strategy

Oracle Partners

0 Comment

Wealth Creation

The re-contribution strategy can be utilised to reduce the taxable portion of your superannuation benefits passed onto your beneficiaries following the death of an SMSF member. Superannuation benefits in an SMSF are categorised into tax-free and taxable components. A re-contribution strategy works by withdrawing a large sum of superannuation from a member’s fund and a re-contribution of […]
Jan 01

ATO lists tax traps

Oracle Partners

0 Comment

Wealth Creation

The Australian Tax Office (ATO) often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations. Due to enhancements in technology, the ATO has expanded its data matching capabilities which have improved the ability to identify incorrect reporting in tax returns. The ATO has released a list of behaviours and […]
Jan 01

Refreshing your finances for 2016

Oracle Partners

0 Comment

Wealth Creation

Even though managing your financial affairs should be a year- round activity, the start of a new year is a perfect opportunity to get your financial house in order. A fresh new year is a great point in time to start planning out and monitoring your financial and tax affairs for the year ahead. Even though individuals […]
Jan 01

Asset allocation in super funds

Oracle Partners

0 Comment

Wealth Creation

Asset allocation is designed to balance risk and return in a super fund portfolio by adjusting how much the fund invests in different assets based on risk tolerance, goals and investment time frame. The way in which an individual chooses to allocate their super to different asset classes is one of the most important investment […]
Jan 01

Reverse Mortgages

Oracle Partners

0 Comment

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 […]