While privately-traded cryptocurrencies are becoming more well known, they are unlikely ever to be used as ‘money’ in Australia. To understand why, it helps to understand what makes money, money.
If you are looking for a gift this coming summer, here is a present we do not suggest: a wallet or a purse. One day soon, carrying physical money will be a very unusual thing to do.
This week we came across an interesting little read from Fidelity International, an international fund manager. Their article examined the composition of Australian household wealth as of the end of 2020, which is about as recent as the data gets when it comes to this kind of thing.
The National Disability Insurance Scheme, or NDIS is an insurance scheme that funds supports to people with a permanent disability. The idea is that those supports work to reduce or remove things that disable a person. It is currently helping almost 450,000 people, so it affects a lot of us either directly or indirectly.
You will often hear it said that the family home is a tax-free investment. This reflects the fact that there is no capital gains tax paid on your principal residence when you sell it. But capital gains tax is only part of the story. There is more than one way for tax to be incurred, and an often-overlooked tax might be partly the reason for the current boom in house prices.
As the financial year draws to an end, there is still time to talk to your tax adviser about minimizing your tax bill for 2020/21. As a way of reminding you, we thought we would spend some time looking at who pays tax in Australia – and how much they earn before doing so!
The world moved a little more back towards normal this week as Commonwealth Treasurer Josh Frydenberg delivered the 2021 Budget at the traditional time of just after Home and Away on the second Tuesday in May.
This Sunday marks a pivotal date in Australia’s journey out of the ‘economic troubles caused by Coronavirus. The Commonwealth Government’s main economic response to the pandemic, it’s ‘Jobkeeper’ payment, will not continue beyond March the 28th. If the end of the program affects you, please get in touch.
The most important thing in life is to think as clearly as possible. So, as 2021 gets underway, why not get in touch and together we can make this your ‘year of thinking clearly.’
As our last post for 2020, we simply want to say: well done on getting through 2020! We hope that, like the smiling boy in this picture, who has found a way to turn an upside-down world into a source of delight, you and your loved are able to find some fun and lightness this holiday season.
