Financial planning - Townshend & Associates

Bitcoin, cryptos and your taxes

August 15, 2018 | Budget, Financial planning, Individual tax, SMSF

The central premise to be “outside of the central banking monetary system” and the “way of the future”. If you own or are thinking to own cryptocurrencies, you should not be confused with that those that disagree with Bitcoin being money and those people not understanding it. They do, especially the Australian Taxation Office (ATO) […]

Financial Elder Abuse: what it may look like and where to go

July 23, 2018 | Financial planning, Individual tax

For many this is an incredibly difficult and sometimes embarrassing issue, here is some important information which may help: From CPA Australia: The World Health Organisation defines financial abuse of an older person as, “The illegal or improper exploitation or use of funds or other resources of the older person”. The definition includes acts with […]

Protect your privacy: ATO warns about scammers

July 12, 2018 | Business Advisory, Financial planning, Individual tax, Scam Alerts, SMSF

It is imperative that you keep your personal information secure, the ATO has released another warning about increased scam activity this year. From the ATO Scammers frequently claim to be from the ATO and according to Ms Anderson, you should be wary of any phone call, text message, email, or letter about a tax refund […]

Income tax rates for Financial Year 2018-2019

July 6, 2018 | Budget, Financial planning, Individual tax

Passed Personal Income Tax Rates from ATO Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $90,000 $3,572 plus 32.5c for each $1 over $37,000 $90,001 – $180,000 $20,797 plus 37c for each $1 over $90,000 $180,001 and over $54,097 plus 45c for […]

“to err is human; to forgive, divine”: Protecting your credit file, more important than ever.

July 3, 2018 | Business Advisory, Financial planning, Individual tax, Mortgage Brokering

What do you know about your credit file? Do you know what credit providers you currently have? You probably haven’t heard of the “National Consumer Credit Protection Amendment (Mandatory Comprehensive Credit Reporting) Bill 2018″ but from the 1st of July 2018, paying your bills to credit providers on time will be recorded on your consumer […]