CARE Financial Services and Accounting

08/04/2022

SG Contribution to increase.

In our newsletter last week, we discussed the larger talking points from the Federal Budget. This week, we thought we take a look at some of the smaller changes to superannuation that will be of interest to many of our clients. Minimum Pension Super Withdrawals People receiving a market-linked or ac...

02/03/2022

The RBA is Australia’s Central Bank. This means that it is the banker for the Commonwealth Government and that it is responsible for management of Australia’s currency.

One of the most prominent players in the Australian economy is the Reserve Bank of Australia – or the RBA. Amongst many other things, the RBA makes the news each month when it announces its policy for interest rates. The RBA is Australia’s Central Bank. This means that it is the banker for the C...

11/02/2022

Mr Lowe then went on to give some simple, wise advice:
"The advice that I would give to people is, to make sure you have buffers… Interest rates will go up. The stronger is the economy, the better progress we make on unemployment, the faster and the sooner the increase in the interest rates will be".

Last week, the Governor of the Reserve Bank Phillip Lowe gave a speech at the National Press Club. As is the tradition, at the end of his set speech, he was asked questions from the floor. One question stood out among the many. Daniel Sutton from Channel 10 asked Mr Lowe the following question about...

25/01/2022

TaxSmart Cafe, with much enthusiasm, is commemorating Australia Day, this 26th of January!

With that, we hope that you use this day to reflect, respect and celebrate the Australian spirit and the best of this country – our mateship, our sense of community and our resilience. With hope, let us altogether look forward to a bright future.

27/11/2021

Some excellent advice for people who are not bouncing back as quickly as they might have expected, which we have summarised with the following tips.

Last week’s article about making good decisions in a pandemic gathered some happy feedback. Continuing on with the covid theme, this week we thought we would discuss another phenomenon that we are hearing anecdotally about life after Covid restrictions in general and, for many of our clients livin...

12/11/2021

That said, obtaining the best outcome in a situation like this is one of the real joys of our work, as it allows Mum and Dad to have real peace of mind about their much-loved children. After all, you never really stop loving your loved ones and wanting the very best for them.

This week, we want to discuss a potentially sensitive issue for many people – what to do with your assets after you die. In order not to breach our client’s privacy, we thought we would use a recent ‘ask the expert’ scenario from the Fairfax press, which read in part: We are aged 80 and 79, ...

27/10/2021

21/10/2021

The largest number of taxpayers came from what ‘Generation Y.’ Born between 1980 and 1995 (and thus aged around 23-38 during 2018/2019), 35% of taxpayers came from this group. The next largest was ‘Generation X’ (born 1963-1979), with 31%.

Every year, with apologies to the radio station JJJ, the Australian Tax Office releases it’s own version of it’s ‘Hottest 100.’ Well, not really. What the ATO actually does is ask us to imagine that there are only 100 taxpayers in Australia – and then gives us a profile of what that 100 pe...

19/10/2021

Planning to buy an Investment Property? Learn to avoid negative gearing mistakes…

02/10/2021

So, we usually recommend that people simply wait for time to pass and their income to rise in order to repay this debt. They should then use any available cash to do wealth generating things like avoiding or repaying other debt or acquiring assets.

For most Australians, University or TAFE is not free. That said, few Australians pay their Uni or TAFE fees upfront. Most pay them via a loan scheme known as the Higher Education Loan Program, or HELP. HELP replaced the previous loan scheme, the Higher Education Contribution Scheme, or HECS. Because...

30/09/2021

https://bit.ly/tsc-bounceback