Here, our financial experts take a close look at what’s happening in the world of finance.
We uncomplicate breaking announcements from the Reserve Bank of Australia (RBA), the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC) and the Federal and State Governments so you can understand how those changes will impact you, your family or your business.
If you’re wanting to stay up-to-date on topics such as interest rates, tax planning, superannuation, the Federal Budget, incentives and schemes, HELP debt, deductions, concessions, depreciation, investment properties and much more, this is where you’ll find the answers.
Knight is with you every step of the way as you strive for financial success. If you’d like some additional information regarding any financial news, please reach out for a consultation to plan your next step.
Smarter than the average investor
As human beings it is quite natural to react emotionally to falling investment values. Being smarter than the average investor, whilst difficult in practice, simply takes patience and the ability to remain rational. Expensive mistakes caused by emotional responses. If there is one thing that we can take away from the Global Financial Crisis (and all other crises ever) is that we never learn. It is human nature to take what has happened in the recent past and project
6 Estate planning tips
It is all too easy to focus on growing wealth, but often we forget about the importance of planning for the transfer of wealth if something were to happen to us. Estate planning is not just about planning for what happens to your property after you pass away, it is also about planning for what happens to you and your property if you become mentally incapacitated. If you hold assets in other entities then those entities should also form part
Step out of the shadows
With interest rates at almost all-time lows it is difficult for savers and retirees alike to generate reasonable returns on their money. As a result, investors are tempted to look further afield than the usual term deposits or low risk bonds for their fixed interest returns and their appetite for high yield investments remains despite a growing list of corporate and product failures. A number of these failures have come from unlisted, unrated debenture providers (Shadow banks) Banksia, Gippsland Secured
SMSFs and property investments
Recent media has focussed on the risks of investing in geared property by self-managed superannuation funds (SMSFs) and whether it is really the right long-term decision for a member’s retirement. It can be the right choice for some but it’s not for everyone. Opportunities come with risks which are the same as any individual’s decision to make a personal property investment. There are however some risks which are unique to SMSFs. There’s no question that property can reward investors with
Government grants and incentives
The Australian government offers over 1,200 grants and incentives which aim to support the growth of businesses throughout the country. However, many companies are unaware of the grants to which they are entitled, or are unsure of how to successfully apply for them. The result is that each year many businesses are losing out on beneficial financial support. One of the grants on offer is the R&D Tax Incentive; this is a government entitlement program which each year helps over
The emotional side of retirement
Retirement is different for everyone and whilst we spend most of our time and energy planning retirement from a financial perspective we often do not spend enough time thinking about the ‘other’ issues that will face us in retirement. Plans need to be made for your lifestyle, family, hobbies and whether you are going to work part time or do volunteer work. Issues to consider: Are you really ready to retire? If unsure about whether or not you are ready
SMSFs and related party transfers
Earlier this year, the Government began moves to ban off-market transfers of assets to self-managed superannuation funds (SMSFs) from related parties. A related party of your SMSF broadly includes any other member of the SMSF, an employer that contributes to the fund by agreement (“standard employer-sponsor”), your relatives, partners, and companies where the member or standard employer-sponsor controls or significantly influences the company. The proposed changes were going to require SMSF trustees to obtain an independent valuation of the asset
Proposed changes to FBT Legislation
The government has announced that it proposes to remove the statutory formula method of fringe benefits calculation for both salary sacrificed and employer provided cars. This will come into effect for any new contracts entered into from 16 July 2013. New contracts will include any existing contracts that are substantially varied. If you provide or are planning to provide vehicles for your employees then these proposed changes will affect your business. So what does that mean to me? Currently there
What is your business worth?
If I asked you today what your business is worth, what would your answer be? If its ‘umm’ or ‘err’ don’t worry you’re not alone! Many business owners do not know the true value of their business even though it is a critical prerequisite to making major business decisions, entering into new transactions or even funding retirement. This is where business valuations come into play. So what exactly is a business valuation? Put simply, a valuation is an estimate of
