Andrew B.

Leichhardt, NSW

3 Likes
0 Followers

Selling a property in Leichhardt, does anyone know of a real estate agent they would be happy to recommend?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (3)

7 years ago

Kehoma R.

Silverleaves, VIC

1 Likes
0 Followers

Hi I am currently preparing my husband and I company tax return ourselves, and have got through it all with no problems until I came to section 9. Capital Allowances.

My question is what details do I put in or not put in

"other depreciating assets first deducted"

It may not be relevant to us this financial year but our bookkeeper had filled in a number the past 2 years so I am unsure??

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (4)

7 years ago

VANESSA B.

Reservoir, VIC

0 Likes
0 Followers

Hello

My husband and I have just been advised by centrelink that we are not entitled to receive the aged pension because we have too much assets in the form of money, over the $290,000 allowed savings sum. My question is when we live off our savings and deplete it to the allowed savings mount or less, will we then be entitled to receive the full aged pension?

Thank you
Vanessa

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (5)

7 years ago

Michelle M.

Camberwell, VIC

2 Likes
0 Followers

Hi, we are selling our home and would like to ask what is considered a reasonable fee for a conveyancer?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (1)

7 years ago

Sharyn G.

Brunswick, VIC

0 Likes
0 Followers

My husband is 36 and been in the same role for 6 years earning $97,000. I’m 34 and have had same role for 3 years and income is $82,000. We don’t have kids, credit cards or any loans and have received an inheritance of $190,000. We currently pay $800 a week rent. We would like to ask how much we could borrow and what rate could we get, thanks?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (4)

7 years ago

Bruce F.

Edgewater, WA

0 Likes
0 Followers

My father passed recently. He had a SMSF where he and my sister were directors of the fund. My sister is also the executor of his will. My sister and I are both nominated 50/50 beneficiaries of the fund. Is my sister able to sell all the shares in the fund and distribute without going to probate? And if so, would this be tax free? Thanks

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (2)

7 years ago

Timo R.

Five Dock, NSW

2 Likes
0 Followers

Buying a commercial property to operate our business and need to borrow 60%. What are the best rates for a 3-5 year interest only term

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (4)

7 years ago

Ezidox

Business Advisor

Manly, NSW

3 Likes
4 Followers

So, I am a 57 year old male, one almost-not-dependant daughter and a financially independent partner. I worked overseas for 15 years from the age of 27-42 and so never started a super fund. In 1992 I left a salaried profession and entered the world of tech startups which I continue in today. As a result, I have no salary income and no employer to contribute to a super fund. I rely on sale of a business from time to time. I have put all spare cash into my primary residence as I see it as the most tax effective vehicle available. I have several investment properties overseas and generate enough income that I haven't had to skip a meal yet. My question is whether putting cash into a primary residence is always a better option than a super fund? I find super fund rules are complex and seem to change all the time...whereas cash into my primary residence is tax free and can be released when I retire and downsize which is the moment when I would want to draw down on any super anyway. Thoughts on a postcard please...

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (3)

7 years ago

Jared M.

Lane Cove, NSW

2 Likes
0 Followers

My brother, mother, and I want to purchase an investment property, but we were thinking to only take out the loan in mine and my brothers’ name. The plan was to occupy the property for 6 months so that we will be eligible for the first homebuyers grant (Mum would not be eligible as she has purchased property before). Can all three of our names still be on the deed for the property, if only 2 of our names are on the mortgage?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (5)

7 years ago

simplyaskit

Business Advisor

North Sydney, NSW

216 Likes
401 Followers

It is reported 75% of Australians over the age of 65 receive the full or part pension from the Government.

Compulsory superannuation was introduced into Australia in 1992 (26 years ago) for employees to have a percentage (now 9.5%) of their income invested into a superannuation fund to help fund their retirement years. The desired outcome was for people to be self-funded retirees as opposed to being reliant on government pensions.

The superannuation industry is a $2.6 trillion dollar industry with something like $26B of fees paid annually.

If after 26 years, 75% of Aussies over 65% are still reliant on the government it begs the following questions

1. Is the current superannuation policy working?
2. Who is really benefiting from the compulsory superannuation regulations?
3. Should superannuation be compulsory or voluntary?

We’d love to get your thoughts and opinions.

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (8)

7 years ago

Pat E.

Orange, NSW

4 Likes
0 Followers

Eldest daughter is 29 and we want to help her buy a home. She has a good job earning 87,000 and pays 300 rent a week in Sydney. Can we give her 50,000 to buy, get a loan - we don’t want to be on the loan?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (3)

7 years ago

Michael G.

Barden Ridge, NSW

1 Likes
0 Followers

Hi, starting a new job as a contract courier and have to set up an ABN. I don’t have an accountant (anyone know a good one in the Shire) – my question is do I have to keep a log book for just one month or so I have to all the time for claiming expenses back?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (3)

7 years ago

Ali C.

North Narooma, NSW

1 Likes
0 Followers

I'm getting divorced, I moved out of the family home about 12 months ago and my ex has kept living there. It's taken us this long to work through all the negotiations for the financial consent orders and agree on a settlement. Soon he'll buy me out of the house we lived in together and he'll also transfer some of his superannuation into my super fund. Will I need to pay capital gains tax on either of those?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (3)

7 years ago

Fiona B.

Patterson Lakes, VIC

4 Likes
0 Followers

Hello,
My husband and I are recently married and in our mid-50s. We have been discussing setting up an SMSF and joining our super to invest in property and would like to know what steps we need to take, is there a certain percentage of our individual super we can only contribute or can it be all of it?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (2)

7 years ago

Jenna H.

Neutral Bay, NSW

2 Likes
0 Followers

I read an article suggesting the RBA should look at raising interest rates by 0.25% so what do people think, is now a good time to be locking in a fixed rate term?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (1)

7 years ago

simplyaskit

Business Advisor

North Sydney, NSW

216 Likes
401 Followers

Sports fans it’s State of Origin Game 2

NSW or QLD and by how many?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (1)

7 years ago

Brendan Curran

Accountant

Newcastle, NSW

367 Likes
116 Followers

Further to my philosophical rant about corporate tax rates, what does everyone think about individual tax rates??? Is the marginal tax system the best tax system??? are the rates and margins right? Should the wealthy end of town pay more? Do low income earners pay enough??? Is the current system of rebates and government benefits based on income too complicated?? (YES!!!) Should families be taxed as "families" not as "individuals"????
cheers
BC

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (1)

7 years ago

Michael B.

Sydney, NSW

0 Likes
0 Followers

Hi,

What are the tax implications if assets are used to repay a debt instead of an actual cash payment?

An example below:

A loan is provided by party A of $10,000 with 20% interest to party B.

Party B cannot repay and so they hand over a car valued at $12,000 to party A and the agreement is extinguished. No cash has changed hands.

Does party A have to put their hand in their pocket and pay tax after receiving the car?

Thank you.

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (1)

7 years ago

simplyaskit

Business Advisor

North Sydney, NSW

216 Likes
401 Followers

With the Federal Parliament, today securing personal income tax cuts is it now time for Parliament to do the same for company and business tax cuts. Let's rally Business Australia and share your thoughts?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (8)

7 years ago

Andrew B.

Abbotsford, NSW

2 Likes
0 Followers

Hi

I am currently paid $243,000 per annum and I am expecting an offer of redundancy in the coming weeks. I am unsure of what my tax position will be if I accept the offer. I have worked for 12 years in my current employment.

My employer provides a calculator to work out what the redundancy payment will be. However, they have told me that any offer of redundancy is not finalised until the day the offer is made. The calculator tells me that I should expect the following:

Notice Period Entitlement: $29,600
Severance Payment: $158,500
Annual Leave Entitlement: $15,000
LSL Entitlement: $41,500
Estimated Gross Payment: $244,600

Will I be paying full tax on this payment? Someone mentioned to me that I will pay concessional tax – what does that mean?

• (<% currentCount %>)
• Comment (0)
• Share

View responses or answer (2)

7 years ago