How Much Money Do I Need To Retire On?

The usual rhetorical response to this question is “how long is a piece of string?” For those of us that don’t plan for our retirement this could well be the answer. You may also be forgiven for thinking “my retirement is years away yet, why bother myself worrying about it now?” Well, whilst we can’t predict the future, we know that with some careful planning we can at least give ourselves the best opportunity of fulfilling our retirement dreams.

Administrator Pendite Lite

Ian McFarlane has experience in acting as Administrator Pendite Lite. This is a name for a court appointment to begin probate proceedings during a lawsuit that challenges the will. The estate will be granted Letters of Administration to allow the administrator to collect the assets of the estate until the last binding will of the deceased is approved by the court.

Increase To The Minimum Wage – 1 July 2016

One of the biggest expenses all businesses face, especially in the tourism and hospitality industry, is the cost of wages. Besides purchases of stock, payroll is generally the second highest expense with businesses needing to make sure they are complying with penalty rates, superannuation, WorkCover and payroll tax. However, a recent development will see the cost of employment increasing.

Farm Management Deposits Scheme

Farm management deposits (FMD) are an important tool to help primary producers deal with uneven income from one year to the next; a common scenario due to a myriad of variables in a primary production (PP) business.

The scheme allows deposits to be made with an authorised deposit-taking institution who offers special FMD accounts. A tax deduction can be claimed for the amount deposited, provided that the funds are not subsequently withdrawn within 12 months. If the FMD is withdrawn in a later year (after 12 months), the amount withdrawn is included in assessable income. In the case of a natural disaster, deposits can be withdrawn within 12 months, subject to meeting certain conditions, without the tax deduction being cancelled.