North Advisory Accountancy Blog

Did you know that as of 30 June 2019 the total balance of superannuation held within Australian funds was $2.9 trillion? With so much invested, it’s crucial that you know how your fund is performing and that you are proactively managing your future wealth.

Self-managed superannuation funds (SMSF) are becoming increasingly popular and with good reason. We spoke to Cayle Petritsch, Director and Wealth Specialist, about the advantages of SMSFs and how North Advisory can help you take control of your future wealth.

It’s never too early to start thinking about your retirement. Even if you are only in your 20s and just starting your career, it’s worthwhile taking the time to seek some retirement financial advice and make plans in order to achieve your goals.
The question of how much you will need depends on many variables, and the answer will be different for every person.

As a small business owner it’s important that you understand the capital gains tax (CGT) concessions available from the government. Martin van der Saag, North Advisory Founder and Strategic Advisor, discusses the different types of concessions available and how we can help maximise your eligibility.

As part of our personal wealth management services we can help you make the most of your savings or your current investments.
Diversification is all about spreading the risk of your investments across a range of different asset classes to create a well-balanced portfolio. We don’t want to put all your ‘financial’ eggs in one basket!

Determining the correct structure for your business is one of the most important processes you can undertake. It’s crucial that you select the most appropriate structure for your circumstance. We can provide you with guidance and help you set up your business so that it can truly succeed.

The ATO has clarified that any benefit arising from travel by taxi, and not a ride-sourcing service, by an employee is exempt from fringe benefits tax (FBT) if the travel is a single trip beginning or ending at the employee’s place of work.

The Bill containing the three-stage personal income tax cuts package completed passage through parliament and is now law.

The Treasury Laws Amendment (Tax Relief So Working Australians Keep More Of Their Money) Bill 2019 has received assent as Act No 52 of 2019 and fully implements the measure announced in the 2019 Federal Budget.

In February this year, the Government passed legislation which prevents trustees of APRA-regulated funds from providing insurance to members with inactive superannuation accounts, unless a member has directed otherwise.

The ATO will take strong actions against false clothing and laundry work-related expense claims this Tax Time. Assistant Commissioner Karen Foat said although many Australians claim clothing and laundry expenses, it is unlikely that half of all taxpayers are required to wear uniforms, protective clothing or occupation-specific clothing to earn their income.