News
McKinnon Financial Services is constantly updating its knowledge in the following areas and is keen to pass on the knowledge to clients.
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Financial planning
In the recent Federal Budget, the government has proposed to phase out the Net Medical Tax Offset, to commence 1 July 2013. | Read More ... | There is a lot of marketing by car manufacturers and motor dealers at present about their 'special low' Interest Rates. Unfortunately, as with most things that sound too good to be true, it usually is. | Read More ... |
The vast majority of vehicle financiers now require the 2010 Financial Year statements from your business before final approval.
Unfortunately, you (or your accountant) may not have finalised your 2010 accounts, which could stop you from buying or updating your vehicle before the end of the June, which is traditonally the time to take adv... | Read More ... |
Most income protection policies automatically increase the amount insured each year, to help you keep pace with inflation in the event of a claim. The insurer usually sends you notification of the increase to the amount insured and the premium, but unless you (or your adviser) review the policy, all of the other details remain the same.
... | Read More ... |
It's not very often that the ATO allows you to earn income without paying tax, but you can earn tax-free income from hobbies.
A common example of this type of tax-free income are fees earned from refereeing social sports (e.g. touch football, netball, etc.). We have a client that earns an average of $200 per week during the season fro... | Read More ... |
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