Posted in Mortgages and Finance

#EveryoneNeedsaPlan: Car Limit Increases for the 2025 FY

Posted by Dean McKinnon on 30 August 2024
From 1 July 2024 until 30 June 2025 the maximum claimable depreciation for motor vehicles has increased to $69,674 The limit for the 2024 FY was $68,108 If your vehicle purchase price is higher than the limit, the initial depreciation calculation is based on the purchase price or the limit, whichever is lower If the buyer of a vehicle is registered for GST then the limit excludes GST - if not, then the limit includes GST The personal use portion of the asset cannot be included in the de...
Posted in:TaxMortgages and Finance   0 Comments

#EveryoneNeedsaPlan: FHOG Increased to $30,000

Posted by Dean McKinnon on 19 August 2024
#EveryoneNeedsaPlan: FHOG Increased to $30,000

The recent Queensland State Government budget included an increase to the First Home Owner Grant (FHOG)

  • The Grant has increased from $15,000 to $30,000
  • Applies to eligible contracts entered into between 20 November 2023 and 30 June 2025
  • Contact Us if you need help to apply for the Grant and or arrange your Home Loan
Posted in:PropertyMortgages and FinanceFinancial Planning   0 Comments

#EveryoneNeedsaPlan: Financial Hardship Options

Posted by Dean McKinnon on 20 June 2024
Recent research conducted by ASIC estimates more than 5 million Australians struggled to make loan repayments in the last 12 months, but many don’t ask for help. Asking for help with financial hardship is the first step ASIC MoneySmart has some tips for how to ask for help if you're experiencing financial difficulty  Step one is to contact your lender and let them know that you’re experiencing financial hardship Your lender must consider your request for assist...
Posted in:Mortgages and Finance   0 Comments

#EveryoneNeedsaPlan: ATO Data Matching Rental Bonds & Novated Leases

Posted by Dean McKinnon on 21 March 2024
Commencing 2024 FY through 2026 FY, the ATO will demand comprehensive data records from rental property bond authorities and novated lease companies: The ATO want to use the data obtained to match against taxpayer records and make sure all applicable tax is being paid ATO Rental Bond Data Matching ATO Novated Lease Data Matching Included in the data obtained from the rental bond authorities will be the rental payments If the rental payments don't match the income decla...
Posted in:TaxMortgages and FinanceInvestment   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
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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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