Press publications and media appearances featuring Dr. Adrian Raftery.
Australians are increasingly turning to side hustles to make up for shrinking wages, but experts warn a seemingly easy way to earn extra cash could leave some workers making less than half of the minimum wage - or even costing them money.
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Jim Chalmers released key details for his CGT overhaul, and it’s lit a bonfire under demand for this once-sleepy profession.
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Financial advisers say retirement tax planning for a generation has become redundant overnight.
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For a generation, Australian investors were advised to hold their investments until they retired. Then once they entered tax-free retirement, they could largely sidestep CGT tax. This central plank of financial advice is finished: Every retiree will now pay a minimum 30 per cent tax and nobody will escape.
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Some workers can claim the full cost of their AI subscriptions in their tax return.
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Accountants say millions of Australians are lodging tax returns with errors the ATO already has the data to detect – and the consequences can be severe.
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High-income earners on $220,000 could claw back tens of thousands of dollars if they claim for superannuation, loan interest, car logbooks and insurance.
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It pays to prepare for the barrage of tax tweaks that affect all Australians in the new financial year.
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Side hustles are an increasingly popular way to make a few extra bucks, but as the gig economy grows, so does the taxman’s reach.
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Experts say detailed receipts and logs can boost deductions, while poor documentation risks missed claims and ATO attention.
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Alright, you’re sitting down with a calculator, a box of receipts and records, and a cup of something rejuvenating or fortifying. It’s tax time.
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With the end of financial year (EOFY) approaching, small business entities have access to a range of concessions to help reduce their taxable income and make tax administration easier.
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Ignore the budget tax noise for a while and lock in your own strategies to pay less tax this financial year.
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New analysis finds investors buying new properties after the 2026 Federal Budget reforms could save $250,000 in tax over 10 years versus established properties. The Budget’s tax changes heavily favour new housing, with qualifying new builds retaining negative gearing, stronger depreciation and the 50% CGT discount. Property and tax specialists say the reforms could shift investment into new housing, intensifying competition with first-home buyers and pushing up prices.
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Property investors now have hundreds of thousands of reasons to target new homes, our analysis of taxes has found.
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Superannuation can deliver some huge tax refunds for workers and experts say now is the time to start planning for tax time.
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New rules and overlooked deductions could dramatically boost your refund if you know the right strategies.
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Superannuation tricks can save you thousands of dollars in tax this financial year, but you need to act fast.
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A higher effective CGT rate for housing investors coupled with a limit on negatively geared properties now look likely in the budget.
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VAFA is pleased to announce the appointment of Adrian Raftery, Richard Smith and Sharon Read as Directors on the VAFA Board.
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In this episode of Investing Compass, we run through a few tips from Adrian Raftery’s book.
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Tax is a major factor to consider when weighing up whether to own a home or invest in property.
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Want a bigger tax refund? Here’s why it pays to act now and know the rule changes affecting workers, investors and super.
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The board of Darts Australia bid a fond farewell to retiring Director Judy Taylor and welcomed three new Directors who were successfully appointed from a strong field of applications.
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Helpful tips and strategies to reduce your tax bill.
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Mr. Taxman, Adrian Raftery, listed 101 tax rules—these are the ones that jumped out at me.
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The tax system is in urgent need of simplification, but leading accountants warn governments worry too much about winning popularity contents and lack the rigour needed for reform.
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Outdoor workers can claim a tax deduction for sunscreen if they have receipts, and remember to apply it.
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Superannuation rule changes are confusing and happen too often for most Australians who simply want certainty.
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Superannuation rule changes are confusing and happen too often for most Australians who simply want certainty.
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It’s the end of the financial year on Monday, so it’s now-or-never if you want to boost this year’s tax refund.
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It’s make-or-break time for Australian investors to fire up some strategies that can deliver both short-term and long-term financial windfalls.
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Anyone with less than $500,000 in superannuation can claim an easy tax deduction of as much as $44,400 before June 30, but that is just one of the many reasons people should review their super plan before the end of the financial year.
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These 4 deductions could cut your tax by $121,400
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Charities are firing up campaigns to attract end-of-financial-year donations, but millions of generous Australians appear to miss out on the tax benefits of giving.
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As the end of the financial year (EOFY) approaches, it’s time to start organising your paperwork and exploring ways to help minimise your tax liability.
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We’ve been hit with it all over the past few months – high interest rates, the cost-of-living crisis, tariffs and the tanking Australian dollar. Which makes this EOFY a great time for businesses to look for smart ways to potentially minimise their tax liability. To help your business get the best deal possible, we caught up with Mr Taxman himself, Dr Adrian Raftery. We’re only a few weeks out from the EOFY, but there is still time to save by making some smart business choices!
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Tax time is stressful enough without the added worry of cybercriminals making off with your hard-earned refund.
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The Australian Taxation Office (ATO) is assuring Aussies that its systems are “secure, resilient and have not been compromised”. A number of taxpayers have come forward sharing their accounts have been hijacked and bogus tax returns have been made in their name.
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Hackers are harvesting potentially thousands of bogus tax returns as they exploit ongoing security weaknesses in the Australian Taxation Office’s online portal and the commonwealth’s myGov system.
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Millions of workers hoping to grab Labor’s new $1000 “instant” tax deduction will be waiting a while, and even when it arrives it could prove costly for many people.
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Work-related and working-from-home tax deductions are a key focus for the Australian Taxation Office this year as some of the nation’s 15 million taxpayers test the ATO’s patience with silly claims.
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Hundreds of millions of dollars go begging each year in forgotten tax deductions, but some can be recovered. See our top 10 list.
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The port city is gearing up to welcome thousands of players and families this week as WA’s largest amateur AFL carnival kicks off on Sunday.
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The world’s most popular YouTuber Mr Beast touched down in Australia this week to giveaway some cars and promote his new chocolate brand, but what exactly happens if you were lucky enough to win the coveted Lamborghini?
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Whether you’re an employee or self-employed, acting before June 30 can deliver a financial windfall within months. Here’s how.
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As tax time nears, we spoke with tax expert Dr Adrian Raftery, Principal of Mr Taxman and the author of 101 Ways to Save Money on Your Taxes – Legally!
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Mr Taxman gives three tax tips for business at year end
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Salary packaging to save money is experiencing a renaissance as government policies around electric vehicles push extra cash into peoples’ pockets.
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Selling a house or received a windfall? Here’s how to add some spark to your retirement savings.
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Footy stars accepting “cash-in-hand” payments for media appearances will be watched closely this AFL grand final week as the tax watchdog vows to crackdown on the controversial practice.
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Peak period for donations is here, but many generous Australians make mistakes that reduce the impact of their generosity.
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This EOFY is the perfect time to prepare your workspace to become a place of increased collaboration and productivity. Take advantage of the temporary full expensing scheme, coming to an end this financial year. Technology, office products, furniture and kitchen essentials purchases could be tax deductible.
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With the end of the financial year (EOFY) fast approaching, now is the ideal time to start planning your taxes. We had a chat with Dr. Adrian Raftery, principal of Mr Taxman and author of ‘101 Ways to Legally Save Money on Your Taxes!’, to uncover some unexpected tax deductions that you could benefit from and how to claim these deductions and boost your tax refund (or minimise your tax liability) this year.
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It’s a loud and clear wakeup call when in light of the PwC Australia tax leak scandal a former “big four” partner thinks the government needs to stop outsourcing so many big decisions to the big accounting firms.
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Thousands of extra tax refund dollars can be generated by people who perform a few financial tricks now, rather than wait until the traditional end-of-financial-year rush.
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Some truly strange tax deductions are available to Australians, yet people still push boundaries beyond the realms of weirdness.
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Don’t make the mistake of leaving major tax-deductible purchases to the end of the financial year – the time to act is now, experts say.
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A late-June donations drive is under way and generous Australians can boost their tax refund, but traps are lurking.
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Hear from tax expert, Dr. Adrian Raftery – also known as Mr Taxman – as he takes you through the must-know tips to help you invest and save this end of financial year.
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The tax deductions and dodgy records to be closely watched by the Australian Taxation Office this year have been unveiled.
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Income tax doesn't apply for amounts earned under $18,200, and it has been that way for nearly a decade.
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The value of SMSF loans has increased by about 50% in four years, up from $41 billion in 2017 to $65.8 billion in 2021.
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The league, now in its sixth season, is not just inspiring young girls but women into their 40s too
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Two trends might converge this summer to keep Australians up or down the coast longer than usual.
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With CBA now offering trading of cryptocurrency, tax experts are urging Australians to learn how this will impact their tax return.
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Landing a large tax refund usually requires many months of planning, but it’s worth the effort. Here’s what to do now.
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Do the benefits of having a self-managed super fund outweigh the costs and risks?
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Real estate investors often get windfall gains at tax time, and are being watched more closely by the Australian Taxation Office.
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Many Australians have spent a lot of money setting up their home offices and there are some surprising items you can claim on tax.
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Those who hold cryptocurrencies, such as bitcoin, as an investment are likely to receive a “please explain” from the Australian Taxation Office if they fail to declare when they are sold at a profit.
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The tax man will be looking closely at deductions this year, but there are several key way Aussies can boost their refunds.
Read More Working from home has been great for some but claiming your expenses can be confusing. Here’s one pitfall you should avoid.
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Rental property owners, gig economy workers and people trying to claim too much in work-from-home expenses will come under the Australian Taxation Office’s spotlight this year, a tax expert has revealed.
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Workers across Australia face a surprise pay cut when compulsory employer superannuation payments rise from 9.5 to 10 per cent of wages on July 1.
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Small business owners are heading towards one of their most confusing tax times ever, and are being urged to get organised and get advice before it’s too late.
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Billions of dollars in tax deductions are likely to be missed this year as employees, sole traders and other business owners fail to claim enough work-related kilometres they drive.
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Bitcoin traders may be in for a shock, with thousands already issued with please-explain letters.
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Canstar asked 20 experts to share the one money lesson they think everyone should know. Here’s what they had to say.
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The game of cricket has had many admirers around the world. The sport is followed like crazy and has equally mad supporters. The passion for the sport is well established when we see these fans going to the net level to shower love to their favourite player or the nation. These fans have not been restricted by money, boundaries or any personal barriers, they have sacrificed their pleasures to show the fondness they have for the game. You may call them insane but they are equally loved and blessed by fans around the world. Here is a list of 10 most famous superfans of cricketers.
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The brief and troubled life of Australia's Financial Adviser Standards and Ethics Authority.
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Running late with your tax? You could get slugged financially if you miss the deadline unless you make a few simple moves.
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Tax experts have welcomed a capital gains tax exemption for homeowners with granny flats where a written agreement with the occupants exists.
Read More Tech company founder Leica Ison says the proposals will help her expand into the UK and Europe.
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Section 923A (s923A) of the Corporations Act 2001 restricts the use of certain words, including ‘independent’ and other terms of like import. It provides this restriction in the context of how business was done in 2001. While time, technology and how we do business has since moved on, this section has largely remained unchanged and has created a regulatory black hole. Unfortunately, some of the most unscrupulous practitioners have moved into this black hole for their commercial gain.
Read More Experts provide tips on how to ensure your beneficiaries get the most from your home and assets.
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Holiday homes have always been questionable as investments, with risks heightened during a downturn often outweighing the returns.
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Around a million Australians were working a second job before the pandemic hit. While that number reportedly has fallen by almost 20% since March as jobs dried up, many workers are still relying on multiple jobs in order to make ends meet. If you have more than one job, here's what you need to know.
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Errors on your 2020 tax return – either accidental or deliberate – can result in painful consequences. Here’s how to get it right the first time and avoid a stressful audit.
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Tax time can be painful or highly anticipated. Dr Adrian Raftery outlines the traps and tricks.
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It’s officially tax time again, fellow taxpayers, which means we can expect an onslaught of Aussies seething as they watch their mates cop a small fortune while they’re left with pennies.
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Australians can expect a bigger tax return this financial year due to a combination of lower taxable incomes and higher claims for work-related expenses, tax experts have said.
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There have been fresh calls for the GST to be raised, but some experts are saying now's a good time to review other unpopular taxes like stamp duty.
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When Hayley Stephens and Robert Fagan began planning the launch of their e-commerce business in January, a global pandemic was not on their radar. Ms Stephens and her brother-in-law Mr Fagan joined forces to create Beechville Lane – an online baby and new mum gift hamper business featuring iconic Australian brands.
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Unprecedented numbers of us have had to work from home this year and for many, navigating what to claim as allowable tax deductions is perplexing. Moreover, any resultant tax refund is especially important for those who have had their hours reduced, pay rate slashed or lost their jobs altogether and need this money now more than ever.
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Every dollar counts right now so don't be afraid to fight for what you're entitled to when it comes to your deductions, says tax expert Dr Adrian Raftery.
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While many savvy retailers are great at tricking people into spending money at this time of year purely to get a tax deduction, there are genuine ways to spend for a better tax refund.
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Banks are taking very different approaches when it comes to first-home buyers using super withdrawn under the government’s COVID-19 hardship provisions as part of their deposit.
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Instant asset write offs, fringe benefits, single touch payroll…there’s a lot of jargon out there when it comes time to prepare your small business tax return.
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If your first fortnightly pay of the new financial year is on 1 July, you could have a 27th pay period, so how do you avoid a tax bill next financial year?
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ATO refuses to answer whether $720m worth of Centrelink refunds will be treated as taxable income
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With an onslaught of extra people working from home thanks to COVID-19, tax-time in 2020 could look a little different from previous years.
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It’s episode 50 of Mind Your Own Retirement with your effervescent host and the holder of Australia’s favourite pipes, John Deeks.
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Every dollar counts, so make sure you are fully compensated for having to work from home
Read More Like many landlords, Cleo Glyde always believed property investing was a reliable way to make money – it's stable, simple and it comes with hefty tax breaks. Now she's not so sure.
Read More Traditional office-related expenses for will be supplanted by claims from business owners and their employees working from home offices.
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The 2020 fiscal year officially ends on 30 June, and the months of July through to October mark tax season. But before the next financial year begins, there are a few things you should sort out to maximise your tax refund, according to tax expert Adrian Raftery. Here are some things you should do before the month is up
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When you were a kid there was always a doofus in the playground who claimed their mum gave them $20 when they lost a tooth, which seemed hard to believe. So what’s the going tooth fairy rate these days?
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This accountant by trade and father of two batted above his average creating a cricket pitch and soccer field in his yard — and he says if he could do it, so could other sports-mad families.
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More than 30 per cent of Australian tax payers expect to get a bigger tax refund this year either because of an increase in work related expenses or a lower income. With the end of financial year just around the corner, tax expert Mr Taxman Adrian Raftery reveals exactly what Aussies are entitled to.
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Red tape, workplace worries and tax concerns are adding to the stress of small business owners as they struggle to reopen or rebuild their trade. Here are the top tips for tax time.
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Employers began receiving JobKeeper payments from the Federal Government last week and are passing it on to their workers, but many employees are still confused about how the scheme works.
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Businesses are gearing up for the first payments of the government’s $1,500 wage subsidy which will start flowing from the first week of May, to the relief of many employers and employees across the nation.
Read More Residential and commercial property investors are set to make bigger tax claims as COVID-19 reduces the rent.
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Accountants are warning the new 80c per hour work from home deduction shortcut is for the “lazy” and could leave you up to $1000 short.
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The COVID-19 driven transition to working from home has driven a surge in purchases of desks, printers, and other office supplies – but when tax time comes, experts warn not to jump too quickly at a shortcut tax deduction introduced by the Australian Taxation Office (ATO).
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Many individuals who regularly supported charities are now tightening their purse strings due to COVID-19 and an uncertain financial future. The impact is being felt.
Read More Tens of thousands of residential investors face financial hardship as a result of the ban on evicting tenants, which will not be offset through tax relief and mortgage reprieves, experts say.
Read More As the damage of COVID-19 continues to mount, there are steps property investors can take now to ride the financial pain.
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Sole Traders who have been affected by the COVID-19 crisis and have seen more then a 20% drop in their income can apply for early release of their superannuation. They can access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21. This will be available mid-April 2020. But the question remains, is it a good idea for Sole Traders to access their superannuation? We spoke to 5 experts to get their thoughts.
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Millions of Aussies enjoyed $1000-plus tax rebates last year but new research shows it was not spent in the way the government and retailers were hoping.
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Generous Australians are digging deep and donating to help those impacted by the bushfire crisis. But there are a few things to consider before handing over your cash.
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With the new financial year underway, the annual obligation to submit your income tax return by October 31 is right around the corner.
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It’s the expense claimed by millions at tax time. But officials are warning Aussie taxpayers to be careful when lodging their returns if they don’t want to get hit with huge penalties.
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As June 30 approaches, it’s time to examine your super and the tax-saving strategies available, depending on how much you earn.
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The election is just over a week away so under which political party will you be left financially better off?
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PwC has announced its partners pay an average tax rate of 37 per cent, with CEO Luke Sayers saying the firm was "a significant contributor to Australia’s economy and tax system".
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Deakin takes out top spot again in prestigious national financial planning competition.
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TAX time ends this week, and if you still haven’t lodged yours by now there are a few ways to avoid potentially painful penalties.
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MANY Aussies are relying on myths to finish their tax returns, with the ATO warning they are under increasing scrutiny.
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TAX time can be complex and confusing, resulting in millions of Australians missing out on claiming all the deductions they’re entitled to. Here are 20 tax claims you should think about.
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TAX time is just days away, and the ATO has revealed it won’t be holding back on audits and reviews this year. Find out the mistakes you need to avoid to keep more money in your pocket.
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THE Banking Royal Commission has put the spotlight on the banks, financial institutions, the corporate regulator and even some government MPs - and none of them are looking good. Here’s what has come out so far.
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A tax audit strikes fear into the heart of almost every Australian taxpayers. As the ATO uses technology to spot dodgy claims, this is how to avoid making a costly error.
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EMPLOYEES are getting themselves into hot water with the Australian Taxation Office by over-claiming deductions for work-related expenses.
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Lobby groups are continuing to call for the superannuation guarantee to be increased to 12% of a worker’s wages, but a new report from the Grattan Institute claims this won’t fix problems in Australia’s retirement savings system.
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Mr Taxman, aka Adrian Raftery, PHD, MBA, B.Bus, FCA, F Fin, FTIA, MAICD has over 25 years’ experience in providing accounting services and financial advice to businesses and individuals. We explore how he came to be named Best for Financial and Accountancy Advice – Australia in our prestigious 2017 Global Excellence Awards.
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The FASEA board “rushed out” its initial guidance and will be open to making changes following the consultation period, including potentially abolishing the '10-year rule', says a financial planning academic.
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Financial Adviser Standards and Ethics Authority chief executive Deen Sanders says new education, ethical and professional standards are an opportunity to bring genuine change to the financial planning industry but it will require “a group effort” to get there.
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The Financial Planning Academics Forum (FPAF) has urged the new standards-setting body to collaborate more closely with the academic community as urgency grows for clarity on education standards for both new and existing financial planners.
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CPA Australia’s brand was adversely affected by the general scandal and negativity of the financial advice industry, says CPA member and Deakin University professor Adrian Raftery.
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Competing in the AMP University Challenge convinced co-winner Megan Cull that she wanted to pursue a career in financial planning. And for fellow finalist Erika Wright, taking part in the challenge led to a position as a financial planner with Integrated Wealth Solutions, a Securitor practice in Nowra, on the NSW south coast.
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"I am not the official mascot for Ireland — I don’t think there is one — but I like to be considered as Ireland’s unofficial 12th man", says Ireland's fan Larry leprechaun.
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An associate professor of financial planning reckons between 21 and 34 per cent of advisers will leave the industry due to state-mandated education requirements.
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TAX time moves up a gear this weekend and many Australians are missing out on big money by forgetting deductions they are entitled to claim.
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THERE has been a big jump in the number of Australians rushing to grab a fast tax refund, but there’s a potential sting. Tax specialists warn that being quick off the mark can result in costly errors because Australian Taxation Office technology is likely to spot undeclared income.
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JULY is the cruellest month. T.S. Eliot claimed in ‘The Wasteland’ that it was April, but he was wrong. As anyone who has stared down June 30th knows, July brings with it a heavy burden of guilt.
Read More The end of the financial year will ring in many changes to superannuation and personal allowances while ringing out popular concessions for property investors and home buyers. Adrian Raftery, an associate professor in tax, financial planning and superannuation at Deakin University, says now more than ever it's crucial for individuals and small business owners to take ownership of the upcoming changes.
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As financial planning dealer groups continue to conduct internal reviews of past planning practices and breach incidents, the industry must be ready to share this information with new entrants to help bolster the integrity of the profession, according to a leading academic.
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For many of us, preparing a tax return is as painful as having teeth pulled but the rewards can be great. To ease the ordeal, there are five common mistakes to avoid when doing your tax this year.
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Members of the advice sector have responded to the FPA’s proposed adviser education transition program, with one academic saying the bar it sets for achieving ‘degree equivalent’ status is too low.
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MONEY mistakes made in the next month can potentially cost you plenty at tax time.
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MORE than three million small businesses could be eligible for a tax cut this financial year after federal parliament agreed to lower the tax rate for all companies with a turnover of $10 million or less to 27.5 per cent.
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A buy-now-pay-later mentality has left many high-debt households vulnerable
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ENTERPRISING Australians who hope to join millions of others making money from Uber, Airbnb, eBay, Gumtree and other sharing economy services this year are being urged to beware of the taxman.
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REAL estate investors who buy new instead of old property can save more than $5000 a year from tax deductions and other benefits, but are being warned to crunch all the numbers before taking the plunge.
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A senior banker has likened first home buyers to an endangered species amid deepening concern over the exodus of young adults from the residential property market.
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Businesses should review their obligations for compulsory superannuation contributions or potentially suffer the consequences, say experts, as a spotlight is shone on the $3.6 billion of unpaid super across the nation.
Read More Almost one in four Australians gets their first credit card in their late teens, according to a recent study by comparison website Finder.
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The great Australian tax rort of claiming $300 in deductions even if you don't have receipts has finally been confirmed.
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Deakin Business School has partnered with boutique financial planning firm Scholten Collins McKissock Wealth Management to provide study support for the next generation of financial planners.
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GROUP certificates and tax statements have now arrived but many people are still trying to find a good accountant to help them sort out their annual tax return.
Read More The Tax Office is reportedly hunting down Australians who hide income derived from Uber and Airbnb.
Read More HANDBAGS, make-up, guard dogs and garden gnomes are among the deductions that may help deliver Australians a handy tax refund in the next couple of months.
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With the end of the financial year looming, it pays to get your paperwork in order to make the most of deductions and benefits.
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E-TAX, the free online tax return system used by millions of taxpayers, has been shut down by the Australian Taxation Office.
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Most investors would tell you that building wealth is a thrill-ride, but planning for its survival doesn't quite elicit the same excitement.
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Adrian Raftery says there has been a noticeable increase in the number of financial planning firms engaging with Deakin University, wanting to make sure they have a chance of hiring graduates from Deakin’s financial planning program.
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Uni’s well and truly in session and your workload is gaining momentum like a steam train. Dreaming of pumping those breaks and travelling the world on your trimester break? We spoke to Dr Adrian Raftery, Senior Lecturer in Financial Planning and Superannuation at Deakin University, for some top tips to help students save for their dream holiday.
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Yesterday the Assistant Treasurer, Kelly O’Dwyer, released a statement on “progressing professional standards reforms”. Well, it’s progress of a sort – if progress can be defined as delaying something by several years.
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When Kylie met Amee they became BFFs, but neither foresaw the tragedies that would test their friendship and lead one to make the priceless offer: "I'll carry your baby".
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You may have heard recently that you can claim your handbag on your tax bill. Like many others who have called their accountants in the past month, it may have prompted you to ask "what else can I claim this year?"
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The bottom line with negative gearing is that your investment is making a loss, and those banking on windfalls down the track are playing a risky game, writes Andrew Robertson.
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While other 70-year-olds may be planning exotic cruises or luxurious overseas holidays, state government veterinarian Colin McQueen continues to clock in at the Ararat export abattoir as he works to pay off the last of the three homes he bought in Melbourne's inner northern suburbs for his adult children. But he is far from bitter. Read more: http://www.afr.com/real-estate/residential/how-to-help-your-kids-get-into-the-property-market-20151109-gkudlv#ixzz3wcmiaXDB Follow us: @FinancialReview on Twitter | financialreview on Facebook
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IT sounds like something from a spy movie, but instead of James Bond, it’s coming from the Australian Taxation Office.
Read More Opposition Leader Bill Shorten says Treasurer Scott Morrison should focus on winding back generous superannuation tax breaks for millionaires if he is serious about fixing loopholes in the retirement system.
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The winner of the 2015 AMP University Challenge says he plans to explore opportunities to work as a financial planner overseas, including in the UK and Africa.
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Lack of clarity around the transitional arrangements for 22,500 existing financial planners, in light of the Federal Government's move to impose new minimum education standards on new planners, could risk them exiting the industry, a financial services training provider said.
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FAILING to lodge a tax return is costing Australians more than just a slap on the wrist. Technology advances are giving the Australian Taxation Office unprecedented power to track transactions and catch people who don’t do their tax.
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There's nothing quite like the thrill of planning your first big overseas trip — the anticipation of stepping out into the great unknown for months, or even years, on end.
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There are plenty of reasons why Australians love to borrow money to invest in bricks and mortar. Some people think the value of property never goes down; others like the fact you can see and touch it. But, mostly, it is the ability to offset the cost of owning the property – including the interest paid on a loan – against assessable income that makes it particularly attractive.
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EXCLUSIVE: Banks’ investment home loan rate hikes will deliver a $400 million-plus hit to the Federal Budget.
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TAXPAYERS eager to grab a quick refund are taking charge of their own tax return in record numbers.
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YOU work. You pay tax. For most Australians, that’s the simple equation they face. But rather than baulk at this annual task, treat tax time as a positive experience that will help you share in the $27 billion of annual refunds handed back to individuals.
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The cost of running the average self-managed superannuation fund (SMSF) could be as high as $20,000 according to a recent Deakin University study.
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SAVVY Australians looking to maximum their tax breaks this financial year have only today left to do so.
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Cut out these pointless fees and you could find yourself hundreds or even thousands of dollars better off.
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EXCLUSIVE: The $30-million scandal engulfing motoring giant Fiat Chrysler Australia could go all the way to Detroit, taking in executives at the highest level.
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Changes to business expenses tax cap the budget's main 'game changer'.
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Every country has the fans who go that extra mile – or flies tens of thousands of them – to support the players and team they love. They are the ones who arrive early, are clad head to toe in team colours, cheer the loudest, and make a cricket crowd all that much better. Here are some of the super fans lighting up CWC15:
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PEEL a banana, mash a banana, throw a banana, and let’s go bananas!” Adrian Raftery is a university lecturer in Australia, teaching taxation. During World Cups, he lives out as ‘Larry the leprechaun’: he dons a long hat, sticks a fake beard and lets his inner child peek out as an exuberant Irish fan, following the team around.
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Many business owners start out with the idea of turning their fledgling enterprise into a big business, but only a handful achieve this.
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If you were walking down the street and saw $500 lying on the ground, what would you do?
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Financial planners still lag decades behind accountants in terms of educational requirements for those who practice within the two sectors, according to the head of one of Australia’s largest financial planning university programs.
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What money “cobwebs” or financial issues have you got hanging over you that you want sorted in 2015?
Read More The last few years have been horror ones financially for alot of people. But 2015 is starting to look pretty good. Dr Adrian Raftery, senior lecturer in Financial Planning and Superannuation at Deakin University, provides a few ideas for creating your own list of New Year's resolutions to help put your finances in better shape in 2015.
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FINANCIAL advice was at the centre of a raft of scandals, frauds, inquiries, reforms, rip-offs and multi-billion-dollar losses last year.
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Academics from Deakin University and the University of Western Sydney (UWS) have been named the winners of the 2015 Financial Planning Education Council (FPEC) Academic Research Grants, which are sponsored by the FPA.
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The Financial Planning Education Council (FPEC) has announced the two winners of the 2015 FPEC Academic Research Grants to academics at Deakin University and the University of Western Sydney (UWS).
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Professional Planner was a media partner to the AMP University Challenge 2014, and attended the announcement of this year’s prizes announcement, for the five finalists, last Thursday evening.
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It takes time, commitment and no small expense to achieve a professional designation. The payback comes in more ways than one.
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ANNUAL superannuation statements are hitting mailboxes. Instead of skipping to the closing total and filing it away take our super statement road test to see how your retirement savings are really travelling.
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The debate over abolishing negative gearing has been reignited by a new report.
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The Financial Planning Association of Australia (FPA) has offered to step back from the Financial Planning Education Council (FPEC) to give the council a chance to be recognised as the peak education standard-setting body for the whole financial planning industry.
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The financial planning industry is awash in an alphabet soup of accreditations, certifications, designations and qualifications.
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ONE in three Australians are choosing the do-it-yourself option at tax time and bypassing the need for an accountant to file their returns.
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MILLIONS of taxpayers who do their own tax returns are being warned to watch out for the traps that can be costly at this time of the year.
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All senior financial planners working for Commonwealth Financial Planning (CFPL) will need to hold Certified Financial Planner accreditation by 30 June, 2017, as part of the group’s move to boost educational standards across its wealth management division.
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BUMPER returns on retirement savings have delivered double-digit growth for fund members but making slight tweaks to accounts can also help add thousands of dollars to your balance.
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SELF-MANAGED super funds have slammed proposals to cap the amount wealthy investors can accumulate in the tax-advantaged funds at $2.5 million.
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IT’S entirely erroneous to believe running a self-managed super fund is much more expensive than being a member of a super fund regulated by the Australian Prudential Regulation Authority, says Adrian Raftery.
Read More Although higher earners are in the spotlight with the debt levy, not many people will escape paying higher tax thanks to a raft of changes from July 1. There are also more opportunities to build tax-effective superannuation in the new financial year, as well as other tweaks that may affect your household’s bottom line.
Read More Australia's $800 billion underinsurance problem is predicted to rise as the fallout of last month's Federal Budget continues.
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Tax expert Adrian Raftery has released his latest edition of 101 ways to save money on your tax – legally to help you minimise your tax debt while maximising your return. Raftery is one of the youngest Australian accountants to advance to Fellowship with the Institute of Chartered Accountants, at the age of 33. He is a senior lecturer at Deakin University and appears in the media talking about all matters relating to tax and finance.
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THEY are the daily habits you may not even think about, but chances are they’re adding up to thousands of dollars a year.
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The Budget’s tough reforms will highlight some handy financial lessons for everyday Australians.
Read More Fears of an emerging systemic risk in the self-managed super funds sector — home for more than $530 billion in Australian retirement savings and the nation’s fastest-growing nest egg — have promoted a call for a radical overhaul of the supervision of the SMSF sector.
Read More The one millionth Australian has become a member of a self-managed superannuation fund according to Australian Taxation Office (ATO) statistics to be released later this month.
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If you could go back and give your teenage self some sage money advice, what would it be? With Year 12 exams over and our region's school leavers contemplating their next move, we asked 'Mr Taxman' Adrian Raftery for his top money tips for school leavers to set them up for a prosperous future.
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Veronika Donavan has a necklace bearing the name of the baby boy she carried for nine months, gave birth to and who will grow up to know her as his "tummy mummy". The simple, yet meaningful, piece of jewellery is the only thing little Hamish Raftery's eternally grateful parents Kylie and Adrian could give Veronika to show their thanks due to laws banning the payment of surrogate mothers in Australia.
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Trustees of self-managed superannuation funds (SMSF) may have caught their breath this week when they read that the Australian Taxation Office had its eye on capital gains that were going tax-free once members moved into the pension phase.
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It's a painful task for most of us, yet when it comes to filing our tax returns it seems many are committing the seven deadly sins and heading straight to money hell. But a leading tax expert says we can at least head straight to tax purgatory and even heaven if we avoid some of the most common pitfalls and mistakes.
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ECONOMISTS and tax specialists have warned the RBA may have to cut rates to offset the impact of a Medicare levy hike and that governments may adopt levies to fund future promises.
Read More Self-managed superannuation fund (SMSF) advocates are warning the Government to back off as it considers raiding the system to pay for its policy commitments.
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There may be three months to go before the end of the financial year, but it's actually March when the really money-savvy fine-tune their finances for tax time.
Read More Here is a beautifully written story on the front page of Saturday's Daily Telegraph which chronicles an important chapter in our lives - the birth of our son Hamish.
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Reader question: My husband is German and I am Australian we are living and working in Australia, we would like to invest in a property in Germany and rent it out. Are the tax implications the same as investing in Australia? Would we be able to reduce our taxable income same as we would if having an investment property here, negative gearing?
Read More Reader question: I am in the process of buying some land and constructing an investment property in my name. Cost will be 470k when ready. It will be available for residing in 10 months’ time. The loan is an investment loan in my name only. Can I move in the house for say 1-2 weeks without changing it to ...
Read More Reader question: I will be moving overseas soon and will require long term income from an investment in Australia. I was thinking of purchasing property and having the rent as a source of income, but after careful reading on the ATO website it seems I would be deemed a non-resident of Australia for tax purposes, therefore rental income would ...
Read More Reader question: I am 63 and my wife who is 61 wish to move into our investment property when I reach 65. I understand there would be no capital gains unless I sell the property. But we do wish to move into a newer home and sell this property eventually. Is there a grace period that we can live in the investment property and ...
Read More Reader question: My wife and I are interested in buying an investment property. My wife makes $30k a year and I make $65k year. Is it better to buy the property just on my name for tax purposes or do it together with my wife?
Read More Reader question: I am trying to figure out what to do regarding a current investment property, This is my scenario: I and my wife currently live in a rental property for which we pay $325 per week. I have owned another property I bought in June 2009 @ $413,000 I suspect it ...
Read More Reader question: I have recently purchased my first home a few months ago and will be buying my second next month, over the coming years I’m sure there are going to be many more so my first question is how do I find a GREAT property accountant, I want to get it right the first time as I want to stick with one accountant throughout my journey so they have a great understanding of my situation, I live close to Sydney and money is not an issue as I believe the more you spend the more you save when it comes to taxation and accounting advice.
Read More Reader question: I'm currently building my 2nd investment property which is due for completion in Feb, both properties were purchased in my name and provide great tax advantages. I plan to buy another investment property in early 2012 and I'm wondering if I should be looking towards asset protection and setting up a trust. If so what type of trust is best for property investment?
Read More Reader question: I’m planning to move into the renovate to sell strategy, and was wondering what structure I should use to make the purchases (company, family, individual, etc.). Are there CGT savings that I can make by using a company structure, for example, as opposed to doing the reno and sell as an individual? I’m also aware that reno to sell is higher risk than buy and hold, so is there a structure I can use that provides me with more protection than buying as an individual?
Read More Reader question: We purchased a house with our son 8 years ago. We rented it out for 4 years and then my son moved in but we (my husband and I) continued to receive rent from some of the bedrooms my son rented out to cover our mortgage. We have now sold our 50% share to our daughter-in-law so now my son and his wife own the house and are living in it. They plan to live there for quite a few years and renovate it. How does Capital Gains affect him once he sells it (maybe in 10 years)?
Read More Reader question: I am considering purchasing an investment property (residential unit) through my self-managed super fund. I have heard about the tax concessions available through the SMSF, but with superannuation of just over $100K, I’d like to know if the costs involved in setting-up the SMSF (and running it) will be worth going ahead with.
Read MoreWhat is the general translation rule for foreign currency trading?
Read MoreWhat sections of the ATO tax acts is foreign currency trading? That is cash base online trading with no physical goods exchange?
Read MoreI have recently given up working so Trading is my only form of income. Is it possible to offset trading losses over the past 8 years to any future profits before paying tax? Also would it be advisable to set up a Hybrid Trust to distribute funds to beneficiaries?
Read MoreI am about to lodge my income tax return but heard that I may not be entitled to claim the imputation credits on my dividends as I bought and sold the shares during the 7 days around the ex-dividend date. Could you please clarify if that is the case?
Read MoreI am retired and lost $10,000 in trading last year. Can I claim this as a tax deduction?
Read MoreI am thinking about setting up a Self Managed Super Fund. If I do, can I use my super monies to trade?
Read MoreI am now retired and have started trading FX from my home in Brisbane (Australia), I also own a small parcel of blue chip shares - would I be classified as a trader or an investor?
Read MoreI work full time and supplement my income trading stock CFDs. So far in this financial year to date I have made around $20,000 how do I deal with this on my tax return?
Read MoreI am an Australian but trade US futures, do I need to pay tax in the States and Australia, or neither?
Read MoreMy wife and I purchased our former PPOR (in VIC) three years ago for $326,000 plus stamp duty and fees. We borrowed $250,000 to do this and used savings for the balance. On the loan we now owe $204,000. We have paid $27,700 in extra repayments (not in offset). After renos and market growth the house is now worth ...
Read MoreWhat is the least amount of superannuation you can pay? Can you email payroll and decide to not pay super anymore?
Read MoreWHILE the May budget has cut back some of the tax benefits of using trusts, legislation introduced into federal parliament this week will provide much needed certainty for the 1.5 million Australians who are beneficiaries of these investment vehicles.
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Four weeks might not seem like a long time but what you do this month could have a significant impact on your upcoming tax bill or refund. Yes, June 30 is rolling around again and along with getting your shoebox out and paperwork organised, the coming weeks represent a last-chance opportunity to organise your affairs to save on tax.
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UTS Business School Prizes and Scholarships Ceremony - 2011 Prizes and Scholarships Awarded for 2010 Academic Year
Read MoreAS soon as Wayne Swan finished delivering his budget speech on Tuesday, the nation's accountants and financial advisers had began thinking of ways to mitigate tax hikes and welfare cutbacks suffered by their clients. The government constantly tweaks the rules, but tax planners always adapt.
Read MoreHigher-income earners can minimise the impact of the federal government's budget tax hikes and welfare cutbacks by deferring income, prepaying expenses and possibly splitting superannuation contributions with their spouse, according to tax experts.
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Over 40% of small business owners spend their nights fulfilling financial reporting obligations, a new study reveals, with a majority losing 60 hours per year of their personal time to tax issues.
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Australia's Goods & Services Tax (GST) is predicted to increase as pressure mounts on the Federal Government to fund its recent spending, including the recently minted COAG hospitals agreement.
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Accountant may seek compensation from the Australian Taxation Office (ATO) as a result of damage to their reputation and bottom lines following problems flowing from the ATO’s switch to a new IT system.
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Accountants have flagged they may sue the Australian Tax Office (ATO) over a computer glitch holding up the processing of refunds.
Read MoreOpening a savings account as a child can help people build disciplined financial skills for life.
Read MoreTaxpayers should expect an increase in audit activity by the ATO over the next 12 months
Read MoreThe strategy : To work out whether I qualify for the $900 tax bonus
Read MoreRemember when saving was a virtue? All that hand-wringing about the country's declining savings rate and skyrocketing consumer debt? Not any more. Profligacy is the new morality as the Government urges us to take its $42 billion and spend, spend, spend.
Read MoreKevin Rudd might not think much of this idea, but there's a way his stimulatory package this week could really put a bit of zing in your super.
Read MoreThe Federal Government's $950 tax bonus payment could end up costing the Government up to $2,375 per taxpayer
Read MoreFOUR million pensioners, carers, seniors and veterans will get one-off payments worth $1400 for singles and $2100 for couples in December as the Government tries to boost the economy.
Read MoreFORMER Treasurer Peter Costello drew fire from financial planners and political foes alike yesterday. He was called heartless and impulsive for trying to blame advisers for over-enthusiastically directing clients into superannuation investments that have crashed horribly since last year.
Read MoreIt barely rates a mention in Treasury chief Ken Henry's 366-page review of the tax system, but something desperately needs to be done to reduce the burden of tax compliance on individual taxpayers.
Read MoreBuying a computer is cheaper than leasing in the long term but some small businesses may have other plans for their dollars.
Read More Calls for uniform rules governing everyone who gives advice on SMSFs has led to the FPA being accused of having it in for accountants. Kristen Paech reports.
Read MoreIF that tax-saving strategy you've been offered doesn't quite sound right, it probably isn't
Read MoreSoaring petrol prices have failed to persuade the Australian Taxation Office to offer bigger tax deductions for car running costs this financial year.
Read MoreMost investors don't know exactly why they love property but you can bet the fact that you can actually touch and feel it has a lot to do with it. This tangible nature of property is just one reason why bricks and mortar will always remain a popular choice for investors, particularly in times of economic uncertainty.
Read MoreThe first whiff of winter in the air generally marks the start of the financial silly season, when rational investors seek irrational answers to the challenge of cutting this year's tax bill.
Read MoreIf you are a travel consultant who is thinking of putting that family trip overseas down as a work-related expense on your tax return, it might serve you well to think again.
Read MoreThose who work from home or use their own car for their job could face heavy scrutiny of work-related expenses over the next year in a new tax office crackdown, accountants warn.
Read MoreInvestors who tried to capitalise on the $1 million tax free window introduced last year may have lost over 16 per cent of their superannuation money due to the falling sharemarket.
Read MoreThere's no need to cancel Christmas. The tax office has some rules, but there is still options to let your hair down.
Read MoreBorrowing to invest can make good financial sense for those with steady nerves.
Read MoreBelieve it or not, there are lots of ways to reduce your tax (legally).
Read MoreAvoid a nasty surprise by keeping good records when calculating your capital gains.
Read MoreAdrian Raftery and his two business partners set up a self-managed super fund two years ago, figuring there would be strength in numbers that would help in the long run, both personally and professionally.
Read MoreThe bloke next door's got one. So has your accountant and now your boss is boasting about his new self-managed super fund. Read the article
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The trend of accountants leaving Australia to ply their trade overseas is set to worsen in coming years, an industry expert says.
Read MoreColin Lewis has been travelling the country extolling the virtues of superannuation for the best part of a decade.
Read MoreA five-year review is essential to keep the bean counters on their toes
Read MoreEight experts offer their best pre-June 30 strategies for investors.
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