#EveryoneNeedsaPlan To Meet CGT Obligations When Dealing in Cryptocurrency

Posted by G. Dean McKinnon on 16 March 2022
Cryptocurrency, and dealing in cryptocurrency (i.e., buying and selling), as become very popular with many investors over the last several years.  However, a considerable number of those investors are unaware that there may be tax payable on the profits generated from their cryptocurrency dealings.

The ATO considers any profit made from dealing in cryptocurrency, whether you are a sophisticated investor or just an ordinary citizen trying to make a buck, the profits are subject to tax. &...
Posted in:Tax   0 Comments

#EveryoneNeedsaPlan to Re-Contribute COVID 19 Early Release Super Amounts

Posted by G. Dean McKinnon on 15 March 2022
At the beginning of the pandemic, many of us were unsure if we were going to need the early release super amounts that were being offered by the government, but after the dust settled it became apparent for a large number of 'early-releasers' that the money would not be needed and now find themselves in a position of trying to get the money back into super.  However, super contribution rules are complex and need to be considered before transferring the early release amounts back ...
Posted in:Superannuation   0 Comments

#EveryoneNeedsaPlan to Vary the Pay-As-You-Go (PAYG) Instalment

Posted by G. Dean McKinnon on 14 March 2022
The ATO will issue a Pay-As-You-Go (PAYG) instalment notice to a taxpayer based on the tax paid in the previous Financial Year but you are able to vary the PAYG instalment, depending on your circumstances.

The PAYG instalment issue usually rises when tax is payable on non-employment income such as back interest, share dividends, self-employment income, et cetera.  The ATO assumes the taxpayer will be earning the same level of income in the following Financial Year and so they issue the ...
Posted in:Tax   0 Comments

#EveryoneNeedsaPlan to Get Some Cash Back When Switching Home Loans

Posted by G. Dean McKinnon on 11 March 2022
Many home loan lenders are now actively seeking new business and they are willing to pay for it.

Some lenders will offer up to $4000 cashback paid to the borrower if they switch their home loan.  The borrower can use this money for whatever purpose they deem fit.

The new home loan lender may also have low upfront costs as well (some don't even have an Application Fee), so the whole process may be very quick and easy and cost-effective. But make sure you check the home loan details ...
Posted in:Mortgages and Finance   0 Comments

#EveryoneNeedsaPlan to Pay Their Life Insurance During the Flood

Posted by G. Dean McKinnon on 10 March 2022
Many families are suffering the devastating impact from the recent floods and they should not have to be concerned about ensuring there life insurance policies remain in force even if they cannot pay the premium for a short time.

Many life insurers are offering premium waiver benefits to their clients that have been impacted by the recent floods.  Some insurers will waive the premiums for up to two months.

If you need assistance meeting your life insurance premiums it is recommended yo...
Posted in:Insurance   0 Comments
McKinnon Financial Planning Pty Ltd ABN 74 155 233 784 Australian Financial Services Licence 417488 | McKinnon Financial Services Pty Ltd ABN 82 056 817 648 Australian Credit Licence 392173 | General Advice Warning: Information contained in the pages of this website is of a general nature only and has not taken into account your particular circumstances. You should consider whether any strategies and or investments mentioned in this website are suitable for you and seek personal advice from a licenced investment adviser before making any investment decision.
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