We all get bombarded with information from every source possible and frankly, it's too much. Even if you haven't already flicked it into spam you probably don't have time to read it. We call it Information Overload. So, on this page we've selected big picture news items we think are relevant and of interest to our clients.
A consistent theme this tax time is overclaiming and under reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for you, your business and your SMSF.
It is always worthwhile to occasionally get back to some home truths and thinking about what WLM is doing to help our clients.
The attached article “The 9 most important things I learned about investing over the past thirty-five years”, from a Chief Economist, is well worth reading.
The Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy.
This financial year, the ATO has visited 22 regions with another four in progress. Next financial year they plan on visiting over 10,000 businesses.
Get ready, there are changes coming to superannuation on 1 July that’s likely to affect three million Aussies – are you one of them?
The chances are you will be, if either your employer or you haven’t contributed to your super account for the last 16 months or more. If that’s you, then the changes mean that any insurance cover currently in place within your inactive super accounts will be switched off. Put simply, you lose your insurance coverage.
What are the traits, behaviours and attitudes that lead to success?
“If you fail to plan, you are planning to fail,” said Benjamin Franklin over 200 years ago and countless others since. When it comes to financial planning, the three top regrets of Australians who don't have a financial plan are: not saving enough; poor decisions; and not taking care of themselves.
As superannuation falls outside your estate, there are few items to consider in your estate plans.
It's a quandary every retiree faces: how to get a higher yield without taking on too much risk. Interest rates are in the doldrums and unlikely to budge any time soon while some of the sharemarket's darlings, like Telstra, attractive for its dividend income, have faltered.
Life does not always go to plan. While we logically know that, most of us don’t plan for the worst - it’s all a bit morbid and time consuming.
The downside of not planning is the potential for hard earned assets to be squandered, family fall-outs, and money handed to the Government that could have been distributed in accord with your wishes. If you are a business owner, then the stakes are even higher.