Rental income is a tax assessable income but outgoings against your investment property are tax deductable and can be offset against other income. These allowable deductions will help reduce your taxable income. If you are a part owner of a rental property, you need to show your share of the rental income and expense in […]
Mortgage is a funny word which comes from the Old French. ‘Mort’ means death and ‘gage’ means pledge. With Melbourne house prices going up through the roof, the new entrants to the housing market will equate mortgage to death sentence. With monthly payments totalling more than 50% of the income, an unsuitable loan may break […]
A company report shows the financial health of a company. The jargons used may make the report look complicated for a novice. But having a basic knowledge about the terms used in the report can help a user in understanding the report. Here is brief information about the terms usually used in a company […]
The term annuity is used to refer to any terminating stream of fixed payments over a specified period of time. It occurs at regular intervals extending into future. Below are different types of annuities An ordinary annuity (also referred as annuity-immediate) is an annuity whose payments are made at the end of each period (e.g. […]
Fundamentalists buy and sell shares based on pragmatic analysis and common sense. Share market greats like Warren Buffet through their company new letters and media releases have given considerable insight into the way they approach the share market. They made their money by going against the trend. When greed and fear rules the market, […]
The Australian Stock Exchange Limited (now known as ASX Limited) was formed in 1987 by the amalgamation of six independent stock exchanges that formerly operated in the state capital cities. Each of those exchanges had a history of share trading dating back to the 19th century. As one of the world’s top 10 listed exchange […]
What is superannuation? Superannuation is designed to provide money for one’s retirement. Employers have to pay superannuation contribution to the chosen fund of the employees (in most cases). This currently is 9%of the income. If someone is self-employed they can chose whether to have superannuation or not. Usually superannuation funds provide life insurance and income […]
Indians in Australia use the services of financial institutions for transferring money to home land. Banks like ANZ charge high transfer fee and offer comparatively poor exchange rates. Some choose such service providers because of ease of use and extra security they offer. Ignorance about the best providers also could be a reason for using […]
1. T The Proposed changes to Superannuation announced by Wane Swan on April 2013 1.From July 1 2014, earnings on superannuation pensions and annuities of more than $100,000 annually will be taxed at 15 per cent, instead of being tax-free. Superannuation earnings below $100,000 a year will remain tax-free and this threshold will be […]
Why Australians have to work smarter than the rest of the world? A country’s standard of living depends on its ability to produce goods and services. Almost all variation in living standards is attributable to difference in countries productivity. Productivity is the quantity of goods and services produced from each hour of a worker’s time. […]