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Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Tax Office reveals adventurous, dubious claims ahead of tax time
ATO reveals top tax time mistakes, set to contact 1 million taxpayers
Watch out for charges with incoming GST laws.
Super savings gap for women stuck at 30%
‘Wipe the slate clean’: Clients, accountants urged to use new amnesty period
Statistics for all Australians
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
Cryptocurrency audits tipped to increase this EOFY
Australia by numbers – Update
$2.4m lost to tax scams, ACCC reports
No GST on digital currency
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
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Articles
Do you want to retire before age 55?
Does Your Job Require You To Work In The Sun?
Once is nifty, twice is thrifty
Positive Gearing Can Achieve Exceptional Returns
How Salary Sacrifice Into Superannuation Can Work.
Our Solution to Keeping Adequate Records
Tax Deduction for Interest
Shareholder Loan Review
Commission or Gift?
New Penalty - Late Lodgement
Direct Property Strategy at Work - Update
Interest Rates. What Now?
How to Read an Insurance Policy
GST - Can tenants refuse to pay GST?
Amendments to Social Security Gifting Rules
New Social Security Gifting Rules
Retirement - How Much do I Need?
Body Corporate Liability Concern
How old is Your Log Book?
Your Personal Tax Return Checklist
Your Business Tax Return Checklist
Do you want to retire before age 55?
Make your dream to retire early a reality. Whatever your financial situation, with the right financial strategies in place, you too can learn how to retire earlier and wealthier. Leverage from these ideas from Protax.

Use our 5-step strategy and accelerate your wealth creation, starting today.
1. Invest sooner rather than later The younger you start investing, the greater the opportunity to benefit from compounding interest.  By reinvesting the income earned by an investment, you will earn more money the next time round.  A realistic and manageable target to start with is to save 10% of your gross salary.

2. Reduce non-deductible debt Credit card, mobile phone and personal loan debts are some of the biggest causes of financial strain and can be potential downfalls to any wealth creation plan.  Generally, it is better to pay off your debts from your existing savings rather than from your future income, as the interest earned on your savings is usually far less than the high rates incurred on unpaid debt.

3. Benefit from gearing A sensible plan can be a tax-effective way to create wealth.  By borrowing additional money against existing assets you can grow your portfolio and accelerate your wealth creation.

4. Protect your income For around 1-2% of your salary, Income Protection Insurance can ensure that up to 75% of your gross income is paid in the event of an accident or illness.  Whatever the circumstances, it is important that you sustain your income if you are unable to work for an extended period, otherwise early retirement will remain an unrealised dream.

5. Wealth creation in and outside the superannuation environment Superannuation remains the most tax-effective vehicle for you to maximise your wealth in retirement.  However, you still need to be able to fund your lifestyle pre-retirement.  Invest outside of the superannuation environment and use these non-superannuation assets to fund your early retirement.  Rely on superannuation assets when you are eligible to access them.

These are very general ideas and need a specialised plan designed with our Protax expertise, to meet your needs.






  


23rd-September-2002