Bitcoin Buyers Beware the Tax Trap

Posted on 13 April 2021
Bitcoin Buyers Beware the Tax Trap
Bitcoin buyers beware the tax trap Cryptocurrencies like Bitcoin and Ethereum have generated a lot of interest over the past few years, particularly due to the spectacular rise and fall of their market value.  From being worth just $1 back in 2011, the value of one Bitcoin today might be as high as $70,000, but that is no guarantee of its value next week! While the big gains sound like great news for an investor, the flipside to consider is that the ATO will take a slice of that pr...
Posted in:investmentsSuperannuationBusinessCGTCapital GainsGlobal outlookRhodes DochertyTaxationFinancial adviceBitcoinCryptocurrency  

How financial advice can pay good dividends during tough times

Posted on 17 March 2021
How financial advice can pay good dividends during tough times
How Financial Advice can pay good dividends during tough times In a period of market instability due to COVID and low interest rates, many investors are struggling to know where to invest.  For those at or nearing retirement, the struggle is even greater.  Cash and term deposits used to be considered a safe haven, but with interest rates at historical lows, more investors are being pushed to consider alternative investments. It may be tempting to jump on the latest trending in...
Posted in:investmentsinterest ratesBondsSuperannuationPensionCoronavirusCOVID-19RetirementGlobal outlookRhodes DochertyRedundancyFinancial adviceDividends  

Granny flats: tax tips and traps

Posted on 9 December 2020
Granny flats: tax tips and traps
Granny flats: Tax tips and traps The idea of adding a granny flat to your property sounds like a great idea. A property to rent out to generate some welcome extra income, or a home for adult children or mum and dad in their later years. But there are important tax and personal considerations to consider before taking the plunge and digging up the backyard. Although the Federal Budget proposed significant reform in this area (which we cover later in this article), important tax questio...
Posted in:investmentsPensionPropertySubdivideCGTNegative gearingRetirementCapital GainsRhodes DochertyTaxation  

Getting Retirement Plans Back on Track

Posted on 19 November 2020
Getting Retirement Plans Back on Track
Getting Retirement Plans Back on Track After a year when even the best laid plans have been put on hold due to COVID-19, people who were planning to retire soon may be having second thoughts. You may be concerned about a drop in your super balance, insecure work, or an uncertain investment outlook. Whatever your circumstances, a financial tune-up may be required to get your retirement plans back on track. You may even find you're in better financial shape than you feared, but you wo...
Posted in:investmentsinterest ratesSuperannuationPensionSMSFCoronavirusCOVID-19RetirementShare marketsRhodes Docherty  

ATO Alert - Covid Affecting Car Fringe Benefits for Emplolyers

Posted on 21 October 2020
ATO Alert - Covid Affecting Car Fringe Benefits for Emplolyers
ATO Alert - COVID Affecting Car Fringe Benefits The ATO is warning employers to take care to avoid unnecessary FBT for car fringe benefits provided to employees. As a result of the COVID lockdown earlier this year, many employees have been working from home at a far greater rate.  If these employees have had the use of a car provided by their employer, the employer will need to check how they are calculating their fringe benefits, to avoid unnecessary FBT. With working from home beco...
Posted in:Fringe Benefits TaxEmployersBusinessCarWork from homeCoronavirusCOVID-19Rhodes Docherty  
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