Digital assets … More complex (and valuable) than you think
When my wife and I wrote our wills a few years ago, there was something we did not include: digital assets. So much of our lives are carried out online, our digital profile and footprint have become as important as the paperwork that shows we own our house. Digital assets include everything from devices such […]
It’s 3.5% – Plus 0.5% Super! – Plan for it by 30 June!
The time-employed workers love and employers dread. It’s when the Fair Work Commission’s Minimum Wage Panel (FWC) get its big boys together over a coffee (or maybe even a fine meal and some good whisky) and decides what the increase in the minimum wage will be. They will tell you they have listened to workers […]
The Magic Formula Your Kids Need to Know
Financial literacy in this country is appalling. I blame banks, big financial institutions and, of course, the government. Do I believe there is a conspiracy to keep the poor poorer and the rich richer? From a government perspective, I don’t think so. I think they want to help, but they just go about it the […]
My Child Wants $150,000. What Should I Do?
How times have changed. I grew up in an environment where there was not much money around. You did whatever you could to get along. And that meant parents did not protect us in bubble wrap. When I was a young lad, getting children into a car was easy. You just kept loading them in […]
Are Our Children Financially Literate?
You may think it does not really matter. After all, you may look at what you have achieved financially and think if you managed it, so will your children. And you did not have access as a young person to the internet or Facebook or even Tik Tok. But like us, our children will face […]
It’s That Time of the Year …. Again
For me, it is a dreaded time of year. That’s right, it is budget time. For most medical professionals it is a bit of a dreaded time, too, because as higher rate taxpayers, the Government sees them as easy pickings when it comes to taxing more. This explains the Temporary Flood Levy and other disaster […]
The Tax Office – Are you Listening?
I love the TV show Fraser. He had a famous line, ‘I’m listening.’ As a teenager, it taught me that maybe I should listen before I react or do anything. And so, I hope ATO listens because when an Ombudsmen starts to criticise government departments, you know there is a problem. But when two federal ombudsmen joined […]
Residential investment property – Wealth Builder?
Medical professionals have a fascination with residential property. In fact all Aussies do. Everyone it seems wants to buy it. And everyone thinks they will become millionaires if they do so. But I have some alarming news. The problem is we have the impression that property is the be-all and end-all. This, of course, is […]
Want $14K, or would you prefer $776K instead?
If this does not get your attention, then nothing will. If you happen to say $14K, then I would have to say you have lost your marbles. But the reality is lazy investing can mean $14K when you could have $775K by just being diligent and being prepared to invest regularly. Over the last 30 […]
FBT – They Are Coming!
If you are a medical client of ours, you may have noticed that we sent out an email recently on FBT and the changes we are making to how we calculate and deal with your FBT. And now you have a second FBT email from me. As you all know, this is not exactly a […]