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Top 10 Tax
Tips
The end of the
financial year is fast approaching so I have prepared my Top 10
Tax Tips
to consider prior to 30th June
2009. I presented a webinar on this for Christian Super last
week. You can access the
presentation slides
here.
You may be in
the unique circumstances where you could use the first two tax tips
to triple
the $900 Stimulus Bonus
you
may have received recently. Read
about it
here.
The cracker 2009 Federal Budget that fizzled
Whilst the May 2009 Federal
Budget is well and truly out of the media spotlight it’s
important to consider their ramifications on your personal
circumstances. A lot of the announcements involved tinkering with
the amounts and thresholds of various payments and strategies. You
can check the budget update I prepared here
.
Definition of Income
from 1st July
2009
One of last
year's Federal Budget announcements, that has only recently been
passed, is the definition of income.
The wide reaching nature of the
legislation is reflected in how many separate
areas of legislation needed to be updated. The changes commence from
1 July 2009 and, among other things) could impact you if
you are salary sacrificing or
borrowing to
invest.
Marginal Tax Rates
The
marginal tax rate reductions promised during
the last election campaign have been honoured
by the Rudd Government so consider adjusting the amount of money
you take as salary and/or adjust your savings/giving to reflect any
reduction in tax you may
need to
pay.
Property
I am concerned
about the first home buyers extending themselves beyond their means
in order to take advantage of the First
Home Buyers Bonus. I have included an article about it on my
blog here
.
Market Movements
The last few
months have been the most promising we have experienced in a long
time. From a low of around 3,100 points on the 6th March 2009
to up over 4,000 points recently, the Australian market
has seen a significant recovery. History
tells us that previous highs (around 6800 points in Australia)
will be exceeded again in the future.
We don’t know when the 6,800
point market high will be exceeded again
but if you are investing with a long term perspective and
have a well structured approach that isn’t swayed by the emotions
of the market, you will
be well
positioned.
www.MasterMyMoney.com.au
MasterMyMoney.com.au is now up and running. You
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using "eNewsletter" as the coupon code when registering. The coupon code
is valid until the end
of July
2009.
Part of MasterMyMoney.com.au is a blog with regular
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There are a
range of articles on the blog that deal with the GFC and a range of
issues. Check out
the Inside this issue menu to the
right for
headlines.
If you know
someone who could benefit from the this newsletter or MasterMyMoney.com.au
you can
forward it
to up to 5 of your
friends at a time by clicking here.
If you have an
questions or would like to discuss your financial situation send an
email.
Warm
regards
Gavin Martin
P.S. Our
fifth son, Levi,
born in February of this year is doing well and receiving lots of
affection (and colds) from his
older brothers.
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This
newsletter does not take into account the personal objectives,
financial situation or needs of any person. You should consider the
appropriateness of the information having regard to your own
objectives, financial situation and needs and obtain professional
financial advice prior to making any decision.
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