Posts by nathan-creativeserumcom
Cashflow tips to keep top of mind
We all like a good cost saving tip, even if it is something we already know. It never hurts to revisit some top tips and take a look at our current situation to see if there are savings to be made. Any little savings we make throughout the year can be diverted to a bigger…
Read MoreRecord keeping for Self-Managed Super Funds
Whilst self-managed super funds (SMSFs) provide members with a high degree of control over their retirement savings, with this control also comes responsibility. As a trustee one of your responsibilities is to ensure proper and accurate tax and super records are kept. Whilst an annual SMSF financial and compliance audit requires the trustee to provide…
Read MoreWhat to consider when transferring your wealth
We spend a lifetime generating wealth but few of us spend the time to ensure it’s passed on in the way we want it to. Having a plan in place for how and when you want your wealth to be transferred, will help all parties understand your intentions and the process. While there isn’t a…
Read MoreEnd of Year Payroll
To help reduce filing errors it is important to review key information before you report to the ATO. Our friends at Xero have created a detailed EOFY Payroll checklist to help you navigate the end of year payroll process from start to finish: XERO EOFY PAYROLL
Read MoreWhy does insurance matter?
The unexpected events of the past few years have made financial protection a front of mind matter for most Australians. Now more than ever we appreciate that life does not always go the way we plan. Having a plan in place if things do take an unexpected turn can mean that our health, lifestyle and…
Read MoreFirst Home Super Saver Scheme – How does it work?
From 1 July 2022, if you’re a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home. Under the scheme, voluntary concessional and non concessional contributions made on or after 1 July 2017 may be released from super to help you…
Read MoreMore employees eligible for super from their employer
Superannuation Guarantee (SG) requires employer to pay a minimum level of super support for eligible employees. One criteria for an employee to be eligible is based on that employee’s monthly earnings being at least $450 per month. However, this threshold is abolished from 1 July 2022. This measure primarily assists low-income earners to have employer…
Read MoreInflation – What Does it mean for Me and my Money?
Inflation is a hot topic at the moment. But what exactly is it, and how does it affect you and your money? Inflation is making news daily through wage inflation, energy inflation, food inflation, fuel inflation… and not just in Australia, but in many other countries too. In simple terms, inflation means that the prices…
Read MoreFederal Budget Summary 2022-23
The 2022-23 Federal Budget has been delivered by the Treasurer this week. Read below our summary of the key announcements: Personal Taxation PERSONAL TAX RATES UNCHANGED FOR 2022–2023 In the Budget, the Government did not announce any personal tax rates changes. The Stage 3 tax changes commence from 1 July 2024, as previously legislated. The…
Read MoreWork-related COVID-19 tests may be tax deductible
According to a government proposal, deductibility of tests would take effect from the beginning of the 2021–2022 tax year (that is, starting 1 July 2021) and would be ongoing. Individuals will also be able to deduct the cost of a test regardless of whether they are required to attend the workplace or have the option to…
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