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Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

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Hot Issues
Fringe Benefits Tax (FBT): employees’ private use of vehicles
ATO to contact clients over bank details
ATO claws back $850m in unpaid SG in FY 17-18
Appetite for property in SMSFs shows signs of life despite tough market
Superannuation gender gap narrowing, research shows
Identification numbers for directors
How financial advice helps create wealth.
Australia's vital statistics
Unlocking equity crowdfunding in Australia
$20m boost for SME clients looking to exporting
Work-Related Expenses
ATO updates crypto guidance
ATO zones in on hundreds of newly created reserves
Senate passes $20,000 instant asset write-off extension
Victorian Vacant Property Tax
Director Penalty Notices
ATO set to pounce on undisclosed income streams
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
What is Bankruptcy?
Update of Australia's vital statistics
ATO speaks on risk factors, surveillance triggers for FY19
ATO’s corporate residency guidance cops backlash
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
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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?
Direct Property Strategy at Work - Update
New Penalty - Late Lodgement
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