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Posts tagged Tax
The most overlooked investment property deductions

An investment property tax expert runs through what every investment property owner should know. One in five of us own an investment property, with 56.7% of Aussie wealth held in housing (at June 2023). It is an incredibly attractive investment option for many investors due to the capital growth that investors have historically seen in property. This is boosted by favourable tax treatment through policies such as negative gearing and the capital gains discount.

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Never reviewed your super? Read this for helpful information to get started

Reviewing your super is a small investment of time that can result in a large return. Superannuation is one of the most effective vehicles for Australian investors saving for their retirement. It has favourable tax rates, compulsory contributions going in from employers, and difficult conditions of release meaning no temptation to access it prior to retirement. If you’ve never reviewed your super, here are a few steps to get you started. Small changes can have a meaningful impact to your retirement outcomes in the future.

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How your super will be taxed when you depart this life?

We are in the opening stages of the largest intergenerational wealth transfer in history. An estimated $3.5 trillion of assets in Australia will be passed on prior to 2050. As it stands now, 21% of household wealth is held in superannuation. As contributions continue to rise superannuation will continue to be a significant stake of household wealth.



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Additional 15% tax on large super balances - the new Division 296 Tax Consultation Paper released!

As the tax operates at a member level, assessments of the tax will be issued to the member and not to the super fund.  The member can either pay the assessed tax personally or have the tax paid by their super fund on their behalf (with the super fund debiting the member’s account with the payment).  The operation of the new tax will be very similar to the current operation of Division 293.  Consequently, the ATO will initiate the tax assessments, the member will not be required to lodge any returns in relation to the tax.

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