The power of deductibility

As financial advisers, we want you to manage all of your financial affairs as effectively as possible. So, we want to explain a simple but powerful concept that makes sure that any donation you give does as much good as possible. The idea is to give donations to charities for which you can claim a … Continue Reading

There’s no need to salary sacrifice any more!

Superannuation really is super. Super lets you pay less tax and boost your retirement savings, all in one go. We really like it and we think you should too. If you are an employee, then you are almost certainly entitled to receive compulsory super contributions from your employer. Generally, these contributions equal 9.5% of your … Continue Reading

Business Owners and Deductible Overseas and Interstate Travel

This story was recently told to us by a fellow Dover adviser. He does a lot of work with doctors. Dr Ethan and his wife Esther migrated to Australia in 1988. They were Russian Refuseniks, brought to Australia from the USSR under a special deal done by the then prime minister, Bob Hawke. Ethan’s medical … Continue Reading

Tax deductible debt

As any business owner knows, there are ways to express the cost of anything: before tax and after tax. And as any successful business owner knows, it is the after-tax cost that needs to be minimised. This is especially important when it comes to the interest you pay on your debt. Minimizing the real after … Continue Reading

What makes debt deductible?

Financial planners divide debt into two types: deductible debt and non-deductible debt. Deductible debt lets the borrower claim a tax deduction for the interest incurred on the debt. Non-deductible debt does not. Whether interest is deductible or not can have a massive impact on how expensive that debt actually is. When interest is not deductible, … Continue Reading

Tax Deductible On-Site Meals for Business Owners

Most business owners eat at least one meal a day in the office or factory. So here is some good news: if you run your business through a company or trust, then the food you eat at work is probably tax deductible. Some background Usually, meals are a private expense. And usually, there is no … Continue Reading

Season’s greetings from the world’s most stable economy

2017 is drawing to a close and we wish you all the very best good fortune of the season. Thank you for being part of our journey in 2017. May this summertime solstice be a peaceful one for you and your loved ones. During 2017, Australia took the record for the longest period without a … Continue Reading

The best estate planning is simply the best planning

Sometimes people really do win the lottery. But here is a story of someone who won the lottery twice. We recently came across a genuine good news story. A woman just approaching aged pension age won a substantial amount in a national lottery. She needed the money! Before the win, she was living on the … Continue Reading