Wealth Creation - Page 2 of 4 - Oracle Partners Accountants & Advisors Bondi Junction, Sydney

Mar 21

Why use a BDBN?

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Wealth Creation

Using a binding death benefit nomination (BDBN) can provide members with the peace of mind knowing that their superannuation will be protected and properly distributed in the event of their death. A binding death benefit nomination is a legally binding written document which outlines who you wish to receive your superannuation benefit if you were to pass […]
Mar 21

Preparing to help out parents financially

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Wealth Creation

When providing financial assistance to parents, it is important to consider all possible outcomes and document intentions carefully. For those planning to give their parents significant help, there are a number of options available. However, to decide on the right option, holding a family discussion to discuss the relevant aspects of a strategy and documenting the […]
Mar 21

Investing in property through an SMSF

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It is vital for those with a self- managed super fund (SMSF) to carry out the necessary checks before purchasing a property in their SMSF, especially where borrowing is involved. Investment strategy The SMSF’s investment strategy must be considered. If the purchase of a property will cause the fund’s other investments to be out of alignment, […]
Mar 21

Common errors when investing

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Whether you are a first-time or experienced investor, the stakes are high when it comes to investing. Even the most savvy investors can fall into the trap of bad investment habits. Although there is no guaranteed formula for investment success, there are some mistakes to watch out for: Chasing performance Basing investment decisions on strong, […]
Mar 21

Boost your retirement savings

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Pre-retirees can take advantage of a range of strategies to boost their nest egg. Here are three popular ways to top up your retirement savings: Maximise contributions Take advantage of the concessional (pre-tax) and non-concessional (after-tax) contributions by contributing as much as you can afford before reaching the caps. From 1 July 2017, the annual concessional […]
Mar 21

Reverse mortgages: a retirement solution

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Changes to the age pension assets test have left many retirees looking for alternative sources of income to fund their retirement. On 1 January 2017, the assets test limit for part age pension rates dropped to $542,500 (from 793,750) for singles, and $816,000 (from approximately $1.1 million) for couples; and the taper rate doubled to $3 […]
Mar 21

Protecting your finances after separation

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The end of a relationship is a particularly difficult time for most individuals – among the emotional pain comes burdensome administrative tasks, such as sorting out finances. Although these tasks may seem tortuous; it is best to address financial issues promptly to safeguard your finances against misuse and ensure peace of mind. Here are three […]
Jan 01

Succession planning for SMSFs

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Wealth Creation

A mandatory component of managing a self-managed super fund (SMSF) is planning out what will happen to the fund if its trustee was to pass away. While succession planning may not be one of the first responsibilities that comes to mind when managing an SMSF, it is a necessity that can provide certainty and peace of […]
Jan 01

Testamentary trusts: an overview

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Wealth Creation

A testamentary trust is an effective estate planning tool that can provide greater flexibility when it comes to protecting assets and minimising tax when distributing assets to beneficiaries. Testamentary trusts are trusts that are established through an individual’s Will that do not come into effect until the individual has passed away. The trust outlines a structure […]
Jan 01

Tax risks of the granny flat

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Wealth Creation

Adding a granny flat to a property is becoming an increasingly popular option among homeowners and investors alike. While a range of granny flat scenarios and arrangements can provide additional living space and potential rental-income, consideration must be given to the various tax implications and financial ramifications before adding such a building to your property. Under […]