The Optima Partners 2017 Budget Overview

The Optima Partners 2017 Budget Overview

There was a time when you knew that if you bought an asset, held it for at least 12 months and then sold it, you would only pay tax on 50% on the capital gain, this has been the norm since 1999.  But now it seems that times maybe changing.  There is talk that the capital gains tax discount for investment properties may be removed, resulting in a saving for the budget of about $4 billion a year. Just as there was previous talk about removing negative gearing, but for the time being that has…

Bob Dylan said it best ‘For the times they are a-changin’. There was a time when you knew that if you bought an asset, held it for at least 12 Read

Oh, that old chestnut, hey? How do you manage to find the right fit when it comes to work commitments and managing the family at home? Not getting that right work/life balance can be a leading cause of stress, both at work and at home.  Well, I’d love to say I have the solution for you, but I actually don’t. I’m a working mother. I feel horrible guilt from the second I drag the kids out of bed in the morning until I walk through the door at night. And by then, all I want to do is sit…

THE WORK/LIFE BALANCE Oh, that old chestnut, hey? How do you manage to find the right fit when it comes to work commitments and managing the family at home?

If you thought that estimating or predicting your tax bill ahead of time was only something that big business did, you’d be very wrong. In fact, Optima Partners already assists many businesses large and small in figuring out “what the damage might be” before the financial year even ends. This is the process of Year End Tax Planning, and we’re approaching the perfect time of year for it. There are three broad stages of Year End Tax Planning: 1. Analyse 2. Adjust 3. Recommend more.....

Tax Planning - Tax Planning is essential for tax savings. Our tax planning strategies work well in this complicated tax environment. Let our tax planning pros help you.

Have you sold your home or looking at selling your home and unsure of the tax consequences? Can the main residence exemption be applied to reduce and/or remove the Capital Gains Tax on the sale? What is it?  The main residence exemption applies to a taxpayer’s dwelling that was owned by an individual/s and nominated as the taxpayer’s main residence. What is a dwelling?  A dwelling for the purposes of the main residence exemption is anything that is mainly used as residential accommodation.

Texas posts a foreclosure trifecta in November, RealtyTrac reports - San Antonio Business Journal

SUBDIVIDING PROPERTY - Avoid Unnecessary Tax  I was with a friend a while back and we were reminiscing of the good old days kicking a footy in his parent’s back yard.  Occasionally one of us would be a little too overzealous trying to impersonate Gary Abblett Snr and the ball would fly over the back fence.  This would usually lead to an argument and paper scissors rock to work out who would jump over to retrieve the ball...more

I was with a friend a while back and we were reminiscing of the good old days kicking a footy in his parent’s back yard

We hear it from our clients all the time when we are discussing income and what each partner earns. The words from a stay at home parent – “Oh, I don’t need insurance, I just stay at home with the kids!”  We can often de-value what a stay-at-home mother is really worth. I was guilty of this when I was not working and raising our children. The fact that she isn’t earning an income means a lot of people tend to think that insurance isn’t necessary...more

As moms we are always striving to be better in every way. While perfection isn’t an attainable goal, there’s nothing wrong with trying to be a better mom. One of my goals for 2016 is just to be a better mom overall and I thought I’d share 20 areas we can

NEGATIVE GEARING HAS BEEN CALLED A LOT OF THINGS IN THE MEDIA LATELY…A tax break A party A rort Out of control It shows no sign of abating either. The federal election isn’t far away, TV personalities like Waleed Aly throwing his opinion into the mix, and whole issue was very quietly omitted from the 2016 Federal Budget despite all this hype. So there’s plenty of ammunition out there for people to attack negative gearing. So far, all the arguments against negative gearing...MORE

The second part of our look into Negative gearing, the practice of using losses from rental properties to reduce your taxable income

ooooh we just said a swear word – “financial adviser”.  There is a stigma that surrounds the financial planning industry, stemming from the industry super funds and a very successful marketing campaign that has run on TV.  People will tell you that they don’t want or need a financial adviser. People will tell you it’s expensive and unnecessary.   People will likely also tell you that it’s far cheaper ...more

Oooooh we just said a swear word – “financial adviser”. There is a stigma that surrounds the financial planning industry, stemming from the industry super Read

NEGATIVE LOGIC ON NEGATIVE GEARING & WORK RELATED DEDUCTIONS. In accounting the matching principle dictates that expenses must be matched against the revenues that they earned. It is one of the basic and underlying principles of accounting theory and our taxation system.The effect of the matching principle is best demonstrated by the way we claim the cost of a non-current asset as depreciation over a number of years. For example, when a motor vehicle is purchased we can’t claim the…

With the Federal Reserve hinting it may boost short-term interest rates, will borrowers turn to adjustable-rate mortgages?

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