2018/19 FEDERAL BUDGET

Personal income tax changes 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 resident low and middle income taxpayers. The offset will be available for the 2019, 2020, 2021 and 2022 income years and will be received as a lump sum on assessment after an individual lodges…  Read more

10 Daily Habits of the Rich and Powerful

  It’s the little things that make up the big things. Here’s a list of ten traits of some of the movers and shakers in the world today (and from the past). 1. They Stay Healthy Health is make-or-break. If you have it, your life will take on meaning like you couldn’t otherwise know; but if you don’t have it, you will only accomplish a comparatively small percentage of what…  Read more

10 Money-Saving Tips for Freelancers

While working at home as a freelancer sounds like the ultimate dream for anyone who tires of the rat race, freelancers still have more than their fair share of financial matters to worry about. In fact, perhaps the most important trait that any freelancer should have is the ability to be fully responsible and accountable to themselves, and saving money is something that you will be wholly responsible for.  …  Read more

Is technology making you less efficient?

“For a list of all the ways technology has failed to improve the quality of life, please press three.”  Alice Kahn If you feel overwhelmed by the sheer volume of technological gadgets out there, never mind apps and other digital “solutions”, you’re not alone. Technology sprawl and the rabbit hole of more and more information, available all the time, is making productivity—and healthy downtime—a real challenge for many of us. Although…  Read more

Does “mindfulness” have a place in business?

According to Google, which offers employees a course on mindfulness meditation, and Lululemon, a company that keeps a Director of Mindfulness on staff, the answer is a resounding yes. Mindfulness, as American scientist Jon Kabat-Zinn defines it, is simply “paying attention in a sustained and particular way – on purpose, in the present moment and non-judgmentally.” Research has shown that practicing mindful meditation can lead to reduced stress, lowered blood…  Read more

Hobby or business?

  Have you got a hobby that you’ve managed to make a little bit of money from? Whether it’s candle making or restoring vintage bicycles and then on selling them, you may need to declare this income. If you tick yes to one or more of the following indicators, you are more than likely running a business; Do you have a website which operates as a ‘shop’; Do you have…  Read more

Christmas Gifting

The Festive Season is an exciting of year full of celebrations, delicious food and of course gift giving. Waistlines and budgets are both stretched this time of year and can leave people wondering if the overindulgence was necessary. If you’d like to incorporate some goodwill into your gift giving this festive season, think outside the box and consider making donations of your family’s behalf. A little amount of money goes…  Read more

Tax incentives for investing in affordable housing

In the 2017-18 Federal Budget the Government announced a series of measures intended to improve housing affordability in Australia.  To entice investors, the Government is providing an increase in the CGT discount for individuals who choose to invest in affordable housing. The draft legislation enabling this change has now been released so we can see the detail. There are two aspects to these changes. Firstly, individuals who make a capital…  Read more

Deductions

  Each year the Australian Tax Office audits many tax returns, they pay particular attention to people claiming higher deductions than expected.  Use the following tips to ensure you aren’t caught out. Justify your claims Only claim deductions on items you genuinely need to do your job. If you have a desk phone, and can make all work-related calls on that, you cannot claim mobile phone expenses. Most employers will…  Read more

Statastic!

Statastic! Back in 1989, when World Population Day was first observed, the global population was nearing five billion. Fast forward almost three decades and the global population has climbed to a staggering seven billion. The United Nation Predicts the world population will reach 10 billion by 2056! Here are some quick facts current as at World Population Day, 2017: There are 4.5 births every second China has the largest population,…  Read more

Are you using the correct award rates?

Happy new financial year! We hope last years was financially prosperous and here’s to another exciting year ahead. However, as it is the new financial year, it’s time to ensure that you’re paying up to the correct award rates. Here is a quick how-to-guide that we’ve put together to make sure you are up to date with the current rates! To find your minimum pay rates: Head over to the…  Read more

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