Industry Growth Program
Have a business idea but not sure how to turn it into a profitable product? The new Industry Growth Program may help.
Details
HECS-HELP student debt
For anyone with uni debt, the recent indexation increase of 7.1% might come as a shock. Here are a few things to keep in mind.
Details
Losses in crypto investments
Over the last few years the ATO has seen instances of SMSF trustees losing their crypto asset investments. Trustees thinking of investing in crypto need to be aware of the ways that crypto can be lost, including via scams and how they can avoid them.
Details
Tips for surviving the fixed rate cliff
The low fixed rates many Australians locked in over the pandemic period are gradually expiring. If you’re worried about what’s on the other side of the fixed rate cliff, here are some tips to help you cope.
Details
Market Wrap November 2023
In October, global shares performed poorly and the US S&P 500 and Australian shares both declined. The Utilities sector was the only positive performer, while IT was the worst-performing sector. Concerns about sustained US inflation contributed to the global downturn.
Details
Drought assistance for eligible primary producers
Check out the latest drought assistance available to eligible primary producers from the Queensland Government.
Details
Qld first home owner grant changes
The government has announced changes to the first home owner grant. The changes apply to eligible transactions between 20 November 2023 and 30 June 2025.
Details
Backing Business in the Bush Fund
Regional Qld small & medium businesses have til mid-January to apply for the first round of cash grants from the Backing Business in the Bush fund.
Details
HIRING NOW Taxation Accountant / Bookkeeper Toowoomba
Are you ready to elevate your accounting career in a supportive and innovative environment? Join Carrick Aland and be part of a dynamic team dedicated to shaping the future of accounting.
Details
Queensland Families pave the way for Future Success
Carrick Aland’s Succession Planning Workshop in Pittsworth helped farm families understand financial stability, family continuity and fairness, and gain a foundation for confident succession planning in the future.
Details
From empty nest to full house
Is your empty nest no longer empty? Here are some ways to navigate the emotional and financial challenges of an adult child moving back home.
Details
Grants for small to medium manufacturers
Queensland’s small to medium manufacturers wanting to increase competitiveness and efficiency can benefit from two grant programs currently open for applications.
Details
Emergency fodder for producers affected by Qld bushfires
Farmers who have been affected by the bushfires are encouraged to complete a Disaster Impact Survey so their specific needs can be assessed and prioritised.
Details
Bushfire assistance extended for QLD primary producers
The Federal and State Governments have activated further relief measures for farmers and councils impacted by bushfires in southern Queensland.
Details
FREE Succession Planning Workshops for Farming Families
Carrick Aland’s free succession planning workshops with Wayne Turner are tailored for farming individuals or family groups entering the journey of farm succession. Register now to secure your free place in Pittsworth 15 November.
Details
Federal bushfire disaster assistance for Queenslanders
From 2PM Tuesday 31 October, applications open for the Australian Government Disaster Recovery Payment and Disaster Recovery Allowance for people who live and work in the Western Downs and Toowoomba LGAs.
DetailsMarket Wrap October 2023
Global shares had a tough September and the US S&P 500 price index was down. However, the Energy sector managed to return 1.3% while all other sectors faced negative returns. The Australian dollar lost 0.3% against the USD$ which benefitted from resilient domestic growth. Despite this, labour markets are still robust.
Details
Western and Darling Downs bushfire disaster support extended
Personal Hardship Assistance has been extended to residents of the Western and Darling Downs whose homes have been impacted by recent bushfires.
Details
On-farm Emergency Water Infrastructure Rebate Scheme
The On-farm Emergency Water Infrastructure Rebate Scheme is being extended and expanded 30 June 2024. This extension includes support for farmers impacted by natural disasters to utilise the scheme. More information on how to apply coming soon.
Details
Unlock the power of digital business tools
An easy way to unlock the power of digital business tools with subsidised small business support.
DetailsQld Manufacturing Energy Efficiency Grant
A new $7.1 million Qld Manufacturing Energy Efficiency Grant will provide funding for equipment or processes to slash energy consumption.
Details
6 questions to ask when you receive your super statement
There’s more to your super statement than how well your fund has performed. Here are a few questions to ask when you receive yours.
Details
Workforce Connect Fund
Qld small businesses can apply for an HR Support Grant of up to $5,000 (subject to available funding) to implement new and innovative HR solutions to address an immediate need.
Details
Qld small business boost to encourage energy efficiency
The QLD Government is expanding its successful appliance cashback scheme to small and medium sized businesses under a new program.
Details
5 household hacks to help you cut your bills
With rising living costs, cutting discretionary spending on luxuries is one option, but a simpler and more attractive approach is to review and trim your so-called fixed household expenses. Here are the top five household hacks for saving money.
Details
Celebrating Financial Planning Week 2023
Today we celebrate the profession of financial planning and highlight what our advisers do every day to help Australians live well.
Details
Ways to help your kids without breaking the bank
Desiring financial security for your children is natural, yet soaring living expenses pose a growing challenge. To aid your adult children without jeopardising your retirement, consider various strategies aligned with your objectives.
Details
Farm Relief Tool
The Farm Relief Tool connects farmers with Australian Government financial assistance and community support to help prepare for, and recover from drought, natural disaster or biosecurity events.
Details
The super decision that could cost Aussies $120,000 in retirement
When it comes to your super, small decisions can have significant consequences. If you’re worried about things snowballing, consider these strategies.
Details
4 hacks to help turn your finances around
Whether it’s our approach to saving and spending or our willingness to take on debt, psychology plays a big part in determining our relationship with money. Fortunately, there are plenty of ways you can shift gears mentally to get a better handle on your finances.
DetailsYour most valuable asset and how to protect it
It’s easy to overlook the thing that allows you to accrue wealth: your ability to earn an income. We look at how to protect this often overlooked asset.
DetailsMarket Wrap September 2023
Australian shares lost ground over the month, with the S&P/ASX 200 Accumulation Index losing 0.7%. The best-performing sectors were Consumer Discretionary and Property Trusts. Utilities was the worst performing sector for the month.
Details
Is early retirement still possible in a high inflation environment?
High inflation may have complicated your plans to retire early. We look at a few key things to consider to make your early retirement work.
Details
Carrick Aland Retirement Projection Services
Our article explores how elderly clients with farm assets face financial struggles in affording aged care and emphasises Carrick Aland Wealth Planning’s retirement projection service as a solution to help them plan for a secure future.
Details
The power of small and regular investments
You can maintain the momentum of your investments without requiring a large lump sum. Consistent, smaller investments can be equally impactful.
Details
Australia’s Future: A Glimpse into the Next 40 Years
The 2023 Intergenerational Report highlights critical trends that demand our attention today to navigate successfully into the future.
Details
Managing PAYG instalments
We outline the different ways the ATO communicates PAYG Instalments and how business owners can effectively manage them.
Details
Why your retirement number can be the antidote to FORO
The Fear Of Running Out (FORO) can often rear its head during times of escalating inflation. Getting a grasp on your retirement number, and what you can do to achieve it, can help.
DetailsQ&A: Should I consider investing in a term deposit?
Term deposits are a common savings strategy, especially with rising interest rates. However, there are pros and cons to consider based on your financial goals and needs, including the level of flexibility you require.
DetailsMarket Wrap August 2023
In July, Australian shares showed positive growth. The Energy and Financials sectors led the gains, however the Healthcare sector faced a decline while the Aussie dollar appreciated against the US dollar. Inflation dropped driven by slower goods inflation, while services inflation reached its highest point since 2001.
Details
Break free from the rental crisis
If rising rental payments have fuelled your desire to break into the property market, here are a few government programs that may help.
Details
Why is my tax return smaller than expected?
The anticipated tax refunds for many Australians have significantly diminished. We delve into the reasons why and how to optimise your tax deductions.
Details
Are you missing out on Age Pension payments?
If you’re not regularly updating your income and assets with Centrelink, you could be missing out on income for your retirement.
Details
Considering a sea or tree change?
Is a move to the country or the coast in your near future? Make sure the practicalities stack up by asking these questions first.
Details
Offset vs Redraw
Optimising the features of your home loan can be a wise strategy when mortgage repayments are increasing.
Details
5 Succession Resources at your fingertips
To support your journey in implementing effective succession planning strategies, we have put together a list of essential resources that you and your family can explore.
Details
July tax and super changes you should know about
A lot has changed in the tax and super space this new financial year. Here’s a rundown of some of the most important items you should know about.
DetailsMarket Wrap July 2023
Australian shares rose over the month — the best performing sectors were Materials and IT. Healthcare was the worst performing sector for the month.
Details
New Paid DV Leave starts for SMB Employees 1 August
Starting 1 August 2023, the new Paid DV Leave policy grants employees up to 10 paid days off during a 12-month period to address family and domestic violence issues.
Details
Succession planning for farming families workshops
Wayne Turner, in collaboration with ConnectAG, is delighted to present a series of highly anticipated workshop events aimed at empowering Qld Farming Families in their succession planning journeys.
Details
Are there any silver linings to the RBA’s rate hike campaign?
The RBA has been lifting interest rates at a rapid pace, quickly undoing its pandemic-era cuts and pushing rates to their highest levels in more than ten years. But as painful as the rate hikes are, it is possible to make out some silver linings.
Details
Saving and starting a family when money is tight
It’s no secret that raising children requires deep pockets and demands on household income can make it difficult to save. Here are a few ideas to get you organised.
DetailsNavigating the Year Ahead
As the calendar turns to July, business owners and farmers find themselves at a crucial juncture, reviewing the year ahead and considering strategies for success. The challenges and opportunities that lie ahead require careful planning.
Details
8 signs your Will may need an update
When was the last time you reviewed your Will? Do you even have one? Learn the common life events that can date your current Will.
DetailsMarket Wrap June 2023
During May, Global Share performance was mediocre with Australian shares falling with the broad market index, the S&P/ASX 200 Accumulation Index, losing 2.5%. The best-performing sector was Information Technology, which shot the lights out, gaining 11.6% for the month.
Details
Resilience in uncertain times
Kick fear to the curb with some useful and practical tips on staying financially and emotionally resilient when things feel unsteady.
Details
How do education bonds work?
Q. We want to save for the cost of our child’s education and have heard about education bonds. Is an education bond worth considering?
DetailsChanges to minimum annual payments for super income streams
On 1 July 2023 when you calculate the minimum annual payment on your pension balance, the 50% reduction will not apply to the calculated minimum annual payment.
Details
What to think about if you’re serious about switching careers
Many Australians have been rethinking the meaning of work in their lives. We outline some things to consider before changing careers.
Details
5 ways to save tax before 30 June
The lead up to EOFY can be an ideal time to conduct a personal finance health check and reconsider your EOFY tax planning strategies. Here are a few things that could help with minimising your tax bill before year end.
Details
Looking for a career in Financial Planning?
CARRICK ALAND WEALTH PLANNING IS HIRING! Apply now — applications are open to Administrators with limited financial services experience or someone currently studying a Financial Planning degree, both with a view to attaining professional advisory qualifications.
Details
EOFY reminders for business owners
As 30 June approaches, farm and business owners can ensure their financial affairs are in order by completing several crucial tasks to avoid penalties and ensure compliance with regulations.
DetailsMarket Wrap May 2023
Australian shares rose during April, with the broad market index, the S&P/ASX 200 Accumulation Index gaining 2.6%. The best-performing sectors were Property Trust and Information Technology.
Details
The key to a smooth transition into aged care
We spoke to Louise Biti at Aged Care Steps about what can be done to diffuse the fears around aged care and create a smoother and less daunting transition into this next phase of life.
Details
Small Business Tax Planning
As a small business or farm business owner, tax planning should be top of mind as the end of the financial year approaches. It’s essential to start with a solid tax planning strategy.
Details
2023 Federal Budget highlights
The 2023 Federal Budget handed down on 10 May focused on cost of living relief through a number of measures. We outline the key announcements.
Details
Pitfalls to avoid when passing on wealth
As parents we may worry about the financial wellbeing of our kids. One step we can take is to carefully plan how we might transfer our wealth, now and into the future.
Details
Federal Budget 2023
The 2023 Federal Budget focuses on providing cost of living relief through lower power bills, higher welfare payments and more support for small business and housing.
Details
3 things you may not know about super
Are you making the most of the types of super contributions on offer? We share three things about contributions that might just surprise you.
Details
Why your goals could be the key to happiness
Read how our goals can help us achieve what we want in life and make us happy at the same time.
DetailsMarket Wrap April 2023
During March, Global Share performance was solid but the Australian dollar and Australian shares both fell slightly. The best-performing sectors were Materials, Communication Services and Utilities.
Details
7 tips on dealing with fluctuating income
While being your own boss or having multiple income streams can have appeal, a common downside can be ‘lumpy’ income — income that fluctuates between periods of highs and lows.
Details
8 ways to help build your money muscles
Whether you’re feeling confident or cautious about your finances this year, there’s likely to be some room for improvement.
Details
5 things to check with insurance through super
Insurance premiums that are deducted from your super balance are easy to forget about. If you have insurance through super, read on.
Details
The super ‘death tax’ you need to be aware of
If you pass away before receiving your super, it will be paid out as a death benefit to your nominated beneficiaries or your estate. Adult children who are not ‘tax dependants’ may face a whopping tax bill, so it’s essential to plan and minimise tax implications.
DetailsMarket Wrap March 2023
February performance enthusiasm faded with economies slowing but interest rates still rising.
Details
Farm tax planning 2023
Read why tax planning is essential for primary producers. It can have a significant impact on the financial well-being of your farm or farming business.
Details
Business tax planning 2023
Business owners, is tax planning top of mind this EOFY? It should be — our tax planning strategies help save you thousands, derisk your life and improve cash flow.
DetailsSell now or wait? Deciding when to sell a property
Deciding when to sell an asset as large as a property is a big decision. Whether it’s the home you live in, or an investment property, there are many things to weigh up.
Details
How to start a difficult conversation about money
Talking about money with a loved one can be hard at the best of times. Whatever difficult conversation you might be facing, here are 5 tips to help stop emotions running high.
Details
Choosing aged care for elderly parents
Deciding on the type of aged care is often one of the most difficult decisions to make. We look at the main differences between in-home care, residential care and retirement living.
DetailsEnergy Efficiency Grants now available
Funding to purchase energy-efficient equipment upgrades for small and medium businesses is available now. Applications close 19 April 2023.
Details
5 ways to help fend off financial stress in a relationship
It’s no secret that money is one of the most common causes of stress in Australia. If you are feeling pressure on the money front, there are ways to help manage it.
DetailsMarket Wrap February 2023
With markets starting 2023 on an extremely positive note, January experienced a boom start to the year!
DetailsThinking about moving into aged care?
Thinking about moving into aged care? It’s a decision that affects your lifestyle, social security entitlements, finances and estate planning arrangements.
DetailsThe eligibility age for the downsizer contribution has changed
The eligibility age for the downsizer contribution has changed. Do you qualify and, if so, what eligibility criteria do you need to satisfy?
Details
3 tips on negotiating a home loan rate
Are there steps that you can take to try and reduce your home loan repayments? We share some ‘inside’ tips which may help increase your chances of negotiating a lower home loan rate.
Details
The cost of retirement is going up — what to do about it
There’s no doubt that with hefty price increases in everyday expenses such as food, fuel and health care, your retirement savings may need to stretch a little further than you expected.
Details
Is retirement on the cards for 2023?
Is retirement on the cards for you or a loved one in 2023? Considering a move into aged care can be a key part of the succession planning process.
DetailsMarket Wrap January 2023
Australian shares lost ground in December with all sectors producing negative returns. Fixed income returns for the month were disappointing, but the Aussie dollar rose against a weakening $USD.
Details
3 ways to protect yourself from online fraud
Protecting yourself against cyber criminals has a lot to do with having a safety-first mindset online and treating online security as seriously as you would your own home, and the contents in it.
DetailsBudgeting tips you may not have heard of
For some people, budgeting is right up there with life’s least enjoyable endeavours. But budgeting doesn’t always have to involve sacrifice or number crunching. Here are a few budgeting tips you may not have heard of.
Details3 ways to protect the Bank of Mum and Dad
With Australians living longer and the cost of retirement on the up, deciding whether to help children out financially can be a conundrum for some parents. There are, however, a few ways that you can help protect yourself and your children.
Details5 things I’d tell my younger self
As the saying goes, ‘hindsight is a wonderful thing, but foresight is better.’ We bring you a collection of common pieces of money wisdom that have stood the test of time.
DetailsMarket Wrap December 2022
With markets performing well for the second month running, has inflation in the US finally peaked?
Details
Further eligibility age change for downsizer contributions
The reduced eligibility age to make a downsizer contribution from age 55 is now law, with the Treasury Laws Amendment (2022 Measures No. 2) Bill 2022 receiving royal assent on 12 December 2022.
Details
Reflections on a year gone by
Taking time to reflect can be as simple as sitting down for 30 minutes with a cup of tea or coffee and writing down answers to a few of these questions outlined here.
Details
5 tips to reduce holiday season spending
The festive season is a time to wind down, recharge and enjoy some quality time with family and friends. But it can also be an expensive time that wreaks havoc with our finances (and stress levels). Here are 5 tips to reduce your holiday season spending.
Details
Getting your kids into a money mindset
While learning about money over the school holidays may not be an exciting prospect for youngsters, there are ways to ‘gamify’ money concepts and make learning fun. Here are a few ideas to get you started.
Details
Understanding your business drivers
Knowing the right drivers can get your business performing at the right level, keeping up with fast-paced changes and driving growth. This is where great financial business advice comes into play.
DetailsMarket Wrap November 2022
During October, the RBA raised the Target Cash Rate by 0.25% to 2.60%, the sixth consecutive hike. The annual inflation rate climbed to 7.3%. This was the highest figure since Q2 1990, boosted by higher prices for construction, fuel and food.
Details
Q&A On when to retire
Retirement is a major life change, and ultimately, when and how you choose to retire is a very personal decision. Here are a few things to think about when contemplating your own retirement timeline.
Details
Success through small steps
Financial success is often made by taking small steps to get there. It may seem daunting and overwhelming but like anything, if you have a professional guiding you along the way, small steps can lead to something great. Here are some tips to get you on the right track.
Details
Apply for director ID before 30 November
Final reminder for directors to apply for their director identification number (director ID) by 30 November 2022. If you have a corporate trustee for your self-managed super fund (SMSF), then you’re a company director and need a director ID.
Details
Toowoomba City Golf Club team social
The whole team got together in October for a social day out at Toowoomba City Golf Club. We may have sliced, hooked and shanked our way around the minigolf course but we gave away some well-played cups, welcomed our new team members and managed to dazzle with some golfer’s garb on the green.
Details
Why a Will may not be enough
If your health is in good shape, you may feel like there may be no urgency. However, getting your financial affairs in order with time on your side can make good sense.
Details
Federal Budget October 2022
This year’s Federal Budget focuses on providing relief for those with children, homebuyers and social security recipients whilst maintaining pre-election commitments.
Details
Farming Succession Planning
Farmers stepping back or out of farming into retirement need financial security. Financial security is one thing; financial independence (from the farm) is another.
DetailsMarket Wrap October 2022
In September, all except cash down with the likelihood of recession increasing, but employment still solid.
Details
Now is the time to protect yourself online
It’s Cyber Security Awareness Month. Check out the latest guides and resources to help you protect your business from cyber threats.
Details
Q&A: What’s the difference between good and bad debt?
If you have surplus cash and want to pay off some debts it is vital to know which are considered good and which are considered bad.
Details
Increase to CSHC income test legislated
Recent legislation introduced into Parliament will increase the Commonwealth Seniors Health Card (CSHC) income test.
Details10 tips to bring your finances up to speed
If inflation is making you feel a little nervous about your household budget, now is the time to zero in on the numbers and bring your finances up to speed. Our handy checklist could help guide you through the process.
DetailsMarket Wrap September 2022
Global shares had a poor month but Australian shares produced positive returns for August and outperformed their global counterparts. The Australian dollar took a significant hit during the month of August versus the $USD.
Details6 steps to reviewing a super statement
Once a year you receive an annual statement from your super fund. While it might be tempting to just file it away, paying close attention to the contents of your super statement can be an important exercise.
Details
Be in control of your retirement
Are you approaching retirement? Then chances are the funding of your lifestyle in retirement may be on your mind. Take steps now to avoid getting caught short on retirement income and live the retirement lifestyle you want.
Details
4 ways to potentially make better money choices as a family
More often than not, financial decisions for the family are made strictly by the parents, but to help your entire family get better at making good money choices, having everyone involved in the process can be key.
Details
A better way — business by design
Business advisory is a growing service in the accounting community, as accountants increasingly prove themselves to be the preferred advisers for small businesses. But what does it mean to be more than ‘just accountants’?
DetailsHow to stop money ruling your emotions
Your money and emotions are interconnected, more than you might realise. Learn some handy tips to navigate uncomfortable emotions and make smarter money decisions.
Details
New Director ID demonstration video
Director or corporate trustee of an SMSF? Watch the ATO’s step-by-step video on how to apply for your director ID. The deadline is 30 November 2022.
Details
Delayed gratification is a key to wealth (if you can wait long enough)
Delayed gratification is basically your ability to resist the allure of an instant reward. Becoming a master of it means you can buy as many marshmallows as you want, forever.
DetailsMarket Wrap August 2022
During July, the RBA raised the Target Cash Rate by 0.50% to 1.35%, the third consecutive hike (it subsequently made a fourth increase in August). Australia’s unemployment rate decreased by 0.4% to 3.5%. In addition to the lowest unemployment rate since 1974, labour underutilisation fell to its lowest level since 1982. Headline inflation continued to rise.
DetailsTwo billionaire traits you can adopt
Not a typical article about finances, but maybe the one that gets you thinking that change is possible and that you are worth it.
Details
How to get through life’s unexpected challenges
Just when you thought you’d reached your limit, life throws more unexpected challenges directly in your path. Read on for some tips to get you through a difficult time.
Details
Protecting retirement savings from inflation
When retiring, you should be aware of risks that could impact your lifestyle and the money left to live on in later years, such as inflation.
DetailsProceed with caution Bank of Mum and Dad
Stepping in to help your children enter the property market might be a noble deed, but it can come with a few risks that are worth being aware of.
DetailsAccelerate your savings with the help of science
If your saving efforts are feeling sluggish, here are some simple yet effective science-backed ideas to try on for size. One might just work for you.
DetailsMarket Wrap July 2022
Global unhedged and hedged shares had a poor month. As expected, unhedged outperformed hedged in a “risk-off” environment, helped by a depreciation in the Australian dollar. Aussie shares and particularly small cap stocks were hit hard during June.
Details
3 ways to stress test mortgage repayments
One way to prepare for uncertainty is to consider and plan for alternative outcomes. We discuss putting higher lending rates and mortgage repayments to the test.
Details
ESG investing
With ESG investing continuing to be on the rise in Australia, we look at potential considerations when thinking about your investment portfolio.
Details
5 principles to keep in mind when markets are volatile
Successful investing is as much about mindset as it is strategy. Here are 5 important principles to keep in mind when markets are volatile.
DetailsMarket Wrap June 2022
It was another difficult month for the asset class with hedged and unhedged declines, although some markets were able to eke out gains. Aussie shares were sharply lower for the month — small caps were the laggard.
Details
Personal insurance jargon busters
We have compiled this jargon buster article to help you understand some of the more commonly used terminology in relation to personal insurance.
Details
More employees eligible for super
The Super Guarantee (SG) requires employers to pay a minimum level of super support for eligible employees. However, the $450 per month threshold is abolished from 1 July 2022.
Details5 important considerations for 2021-22 EOFY
Taking stock at this time is a great way to check in on your situation and see if any changes are needed in the lead up to 30 June.
Details
Retirement trends survey
The Household, Income and Labour Dynamics in Australia (HILDA) Survey collects information on many aspects of life. We have published the key findings of HILDA’s 2021 Retirement Trends survey.
Details
SMSFs: Individual trustee vs. corporate trustee
For anyone considering an SMSF, it’s important to consider, among other things, what’s involved in setting up and running one—seeking qualified professional advice in this area can be a worthwhile consideration here.
DetailsMarket Wrap May 2022
Our monthly review of local and global investment, employment, shares, currency and asset performance. In May, inflation kept escalating.
DetailsSuper Guarantee changes
From 1 July 2022, two important super guarantee (SG) changes will apply to your business. Read the 3 things you need to do if you’re an employer.
DetailsHECS-HELP rate spike to 3.9% from June
On 1 June HECS-HELP debt is going to get bigger because the Higher Education Loan Program (HELP) — previously known as ‘HECS’ — is tied to inflation.
Details
5 questions that could save you thousands
Five simple questions worth asking yourself that could very well save you thousands of dollars and, in turn, help you to save for a better future.
Details
First Home Super Saver scheme – how does it work?
From 1 July 2022, if you’re a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home.
Details
Investing is nothing without goals
Like studying for an exam, or training for a race, you’re far more likely to succeed if you set yourself goals and continuously track your progress. The same can be said about investing.
DetailsSuper guarantee eligibility threshold changes
From 1 July 2022, the $450 per month threshold for super guarantee eligibility will be removed. The change will expand the coverage of SG to eligible employees regardless of their monthly pay.
DetailsFarm Succession – When the Planets Align
This year when considering your annual tax planning, it is more important than ever for multi-generation farming and grazing enterprises to be thinking about what their future is to look like and how the possible scenarios for farm succession could be planned for, in the most financially effective way.
DetailsMarket Wrap April 2022
Australian Equities perform well with all GICS sectors positive. Global shares had a mixed month, Australian shares performed well and the AUD$ gained against the USD$ but fixed income returns for the month were again exceptionally poor.
DetailsChanges to the work test requirements for superannuation contributions
Soon older Australians will no longer have to meet the work test to make super contributions. From 1 July 2022, members under 75 years of age will be able to make or receive personal contributions and salary sacrificed contributions without meeting the work test.
Details
Employee COVID-19 tests now tax deductible
From 1 July 2021, employees can claim a tax deduction for COVID-19 tests that are purchased for work purposes. Find out more about the record-keeping requirements to claim the expense.
Details
Cryptocurrency investing, trading and gifting
If you have cryptocurrency, check out the ATO’s latest tips to avoid errors including key questions to ask yourself at tax time.
DetailsLodgement reminder for CCS and FTB recipients
Child Care Subsidy (CCS) and Family Tax Benefit (FTB) recipients and their partners must lodge their outstanding 2021 tax returns by 30 June 2022 to avoid losing their benefits.
DetailsEligibility age change for downsizer contributions
From 1 July 2022, the eligible age to make a downsizer contribution to their superannuation fund has reduced from 65 to 60 years old.
Details
Directors must now apply for their Director ID prior to being appointed
As of 5 April 2022, new directors must apply for their director ID before they’re appointed.
Details
Why does insurance matter?
Life does not always go the way we plan. Having a plan in place if things do take an unexpected turn can mean that our health, lifestyle and family are better protected.
Details2022 Federal Budget Analysis
This year’s Federal Budget covers a range of measures aiming to stimulate business, reduce the pressure from increased costs of living and help people into homes.
DetailsMarket Wrap March 2022
Global shares fell, Australian shares performed reasonably well during February, fixed income returns for the month were again very poor and the Australian dollar gained against the US dollar, which basically offset last month’s loss.
Details
Government to ensure non-arm’s length expense provisions operate as intended
The Government intends to make legislative changes to ensure the non-arm’s length expense provisions operate as envisaged.
Details
Research on investment switching behaviour
We often can’t completely remove cognitive biases from our decision-making. However, we can seek professional advice to become more aware of, and properly evaluate, the influence and effect they can have on us.
Details
Why aged care matters
We highlight the importance of having options when it comes to aged care planning and getting it right to suit you.
DetailsBoosting retirement savings with super contributions
The Government’s Retirement Income Review highlighted that our super—and subsequent retirement income (and outcome)—can be boosted by, among other things, increasing our super contributions. Read how.
DetailsFirst home super saver scheme is changing
From 1 July 2022 super fund members may be able to release up to $50,000 in eligible contributions plus associated earnings.
Details
Reflecting on 2021 and planning for 2022
A piece to get you thinking about the intrinsic value, and potential benefits, of setting aside time to reflect on 2021 and plan for 2022.
DetailsMarket Wrap February 2022
Global shares fell in unhedged and hedged terms but global emerging markets rose over the month. Australian shares performed poorly during January. The leading sectors were Energy and Utilities with IT being the worst-performing sector for the month. Fixed income returns for the month were also poor. The $AUD lost against the $USD and the Yen.
Details
Key financial habit considerations for 2022
When you repeatedly perform a behaviour, a link forms in your memory. Here are 16 key desirable financial habits worth considering for 2022.
Details
Self-managed super funds and crypto investments
ASIC have issued a new warning to SMSF trustees about outside parties promising large returns through crypto investments.
Details
A new year is a chance for a fresh start
The new year is a great time for making lifestyle changes; however, for goals and changes affecting your financial health, there’s often no better time than when starting a new job.
DetailsMarket Wrap January 2022
Global shares rose and with that Australian shares performed reasonably well during December. Fixed income returns ended the month fairly flat but the Australian dollar rose against the USD$ and the Yen.
Details
Director ID for SMSFs: your questions answered
If you’re a corporate trustee of a self-managed super fund (SMSF), you can now apply for your director ID. You can apply via Australian Business Registry Services (ABRS) online.
DetailsHome loan serviceability and income protection insurance
We take a look at APRA’s new guidance and direction regarding home loan serviceability and income protection insurance.
DetailsMarket Wrap December 2021
Recent GDP figures showed economic growth contracting in the September quarter as expected given the COVID19 restrictions imposed, however, going forward leading indicators suggest the economy is continuing to bounce back strongly.
Details
Carrick Aland and the year that was 2021
Carrick Aland wishes to thank our clients for your continued support, including welcoming all our new clients who entrusted their affairs to us in 2021.
Details
Retirement and housing (homeownership)
Housing (homeownership) is a key factor influencing retirement outcomes — we discuss retirement and several things to consider with regard to housing.
Details
Phone and email scams – superannuation alert
The ATO has raised its concerns about the increase in scams involving fake superannuation investments targeting SMSFs.
Details
Christmas cash flow confidence
In this timely financial education piece, we share ways to mentally get around the challenge of money-related stress before, during and after the festive season.
Details
Planning for aged care
In our retirement years, a time may come when we need to consider aged care services to help with looking after ourselves. In this article, we outline several different types of aged care options.
DetailsMarket Wrap November 2021
With mixed investor sentiment abounds, economic momentum is bouncing back domestically as NSW and Victoria eased lockdown restrictions.
Details
Four ways to teach children healthy money habits
As parents, we try to ensure our children have the skills to make smart financial decisions. Just make sure you’re not sending them negative money messages without meaning to.
Details
Federal Budget superannuation changes
The Government announced a number of proposed changes to super and SMSFs in this year’s Federal Budget (2021-22) that are relatively straightforward or have gone through a period of consultation.
Details
Director Identification Numbers — your obligations and how to apply
If you require a Director Identification Number, find out your obligations and how to apply.
DetailsSMSF investment strategy
Reminder as to why you should regularly review your SMSF investment strategy, as markets can shift and the circumstances of your super fund may change.
Details
Is it a scam?
Find out how SMSF specialist advisers can play a critical role in assisting trustees and self-directed investors avoid cybercrime and investment scams.
DetailsCOVID-19 financial support measures
Unfortunately, the potential to experience financial difficulty due to COVID-19 still persists. In this article, we provide a brief overview of two key Government COVID-19 financial support measures.
Details
ATO extends COVID-19 relief for SMSF trustees
The ATO has announced that COVID-19 relief for SMSF trustees is being extended to the 2021-22 financial year.
Details
How do you know when the advice is right?
Seeking financial advice can turn your life around and put you on a path to a happier and more secure financial future. But where do you start? Who do you trust? How do you know you are going to get value for money?
DetailsMarket Wrap October 2021
Aussie shares outperformed global shares, falling 1.9% in September. Mining underperformance as investors reacted to selloff in iron ore prices. Fixed income returns also poor. The AUD$ fell against major currencies incl US$. Concerns over China amidst the unravelling of Evergrande weighed on AUD$ support.
DetailsThe Power of Business Intelligence
When you’re running a business, you don’t want to be operating in the dark – you need to be grabbing the expertise and insight your accountant can offer you. Read why.
DetailsCatch-up concessional contributions
Find out how to make larger concessional contributions to your super if you haven’t used all of your concessional cap in an earlier year.
Details
Director identification numbers
All directors of companies, registered Australian bodies, registered foreign companies or Aboriginal and Torres Strait Islander corporations will need a director ID number. Directors can apply for a director ID from November 2021 and Carrick Aland is here to help to make sure our clients get it right.
DetailsTemporary full expensing
Find out if your business might benefit from the temporary full expensing or loss carry back incentives in response to the COVID-19 pandemic.
Details
Electronic signing with FuseSign
One of our highest priorities is getting documentation out to our clients as quickly and securely as possible and with FuseSign we can achieve both of these effortlessly while providing you with the best experience possible.
Details
SMSF record keeping
Find out why keeping good records promotes good governance and helps you keep on top of your obligations.
DetailsChanges to granny flat arrangements
New capital gains tax exemption will make it easier for older Australians to enter formal granny flat arrangements with the added protection from possible financial abuse if circumstances within the family change.
DetailsMarket Wrap September 2021
Economic growth for the June quarter surprised on the upside with strong household and government spending offsetting export weakness (production issues and high commodity prices).
Details
Keeping your super safe
Keeping your super safe? The ATO reports an increase in the number of Australians being targeted by scams and falling victim to identity theft, leading to stolen super.
Details
Super choice rules change from 1 November
Employers may have an extra ‘stapled super fund’ step to take with new employees who start from 1 November 2021 that don’t choose a super fund.
Details
FY21 SMSF benchmark report
SMSFs have weathered major impacts from the ongoing COVID-19 pandemic, with fund establishments growing and average net assets increasing, a new report has found.
Details
There’s an app for that
Apps help us manage our lives. But what about helping you track and measure your financial goals? Well of course, there’s an app for that.
DetailsMarket Wrap August 2021
Carrick Aland’s summary of global markets as COVID19 lockdowns extend throughout Australia, including major asset class performance and currency markets.
DetailsHow do you know when the advice is right?
Seeking financial advice can turn your life around and put you on a path to a happier and more secure financial future. But where do you start? Who do you trust? How do you know you are going to get value for money?
DetailsSuperannuation minimum drawdown rates
Extension announced to the temporary reduction in superannuation minimum drawdown rates. This is an extension of the measure that was introduced in 2020 as part of the government’s response to COVID-19.
Details
Single Touch Payroll (STP) Phase 2
Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022. If you employ staff, you’ll need to be ready for this change. New guidelines that explain the changes are now available to help.
DetailsCash flow management
Working with a professional financial adviser can help you to see where there are gaps and opportunities in your financial management plan. Knowing what is happening with your money is not enough; you need to know how to make it work harder for you!
Details
11 key tax facts about superannuation
Compared to other investment structures, super is widely considered to be one of the most tax-effective investment structures available from a wealth accumulation and cash flow generation perspective.
DetailsPersonal insurances snapshot
When it comes to personal insurances, there are many different offerings out there, each with its own varying degrees of protection. Therefore, when it comes to an appropriate personal insurance plan, it’s not a one-size-fits all or set-and-forget approach.
DetailsATO work related expense claim reminder
With EOFY fast approaching, it’s best to reach out to us sooner rather than later to talk through deducting your work-related expenses correctly, and any steps you need to be aware of before 30 June.
DetailsMarket Wrap July 2021
Carrick Aland’s summary of global markets as the pandemic resurges, including major asset class performance and currency markets for July 2021.
Details
QLD Business Boost Grants Program
QLD Business Boost Grants provide support to businesses to advance improvements in efficiency and productivity. Grant opens 30 July 2021 at 9AM and will remain open until all funds are exhausted.
DetailsThe rise of paid subscription services
Spending a portion of your money on things that bring you happiness can be a vital part of enjoying life, and at times can also help to keep you motivated while on the path to achieving your financial goals.
Details
QRIDA Sustainability Loan
QRIDA’s Sustainability Loan offers up to $1.3 million to help primary producers improve on-farm technology and adopt best management practices.
Details
Increase in SMSF membership
From 1 July 2021, self-managed super funds (SMSF) and small APRA funds (SAFs) will be able to have up to six members. If you are considering expanding your fund, you will need to consider things such as what your fund’s trust deed allows, the structure of your fund and its reporting requirements.
Details
Contribution eligibility: Age & work test conditions
Financial success can hold a different meaning for all of us. Despite this, financial success is often linked to something we all tend to have in common, financial goals—our vision for the future.
Details
QRIDA First Start Loan
QRIDA’s First Start Loan offers up to $2 million to aspiring young producers enter the agriculture industry or take over the reins of their family property.
Details
Do you have more than one super account?
Did you know there is about $13.8 billion held as lost or unclaimed superannuation in accounts across Australia as at 30 June 2020? Is some of that yours?
Details3 Changes to superannuation
Bills containing important superannuation measures which may impact you have passed both Houses of Parliament. These measures have now also received Royal Assent, which is the final step required for a parliamentary bill to become law.
DetailsMarket Wrap June 2021
Carrick Aland’s summary of global markets as the pandemic still lingers, including major asset class performance and currency markets for June 2021.
DetailsChoosing a retirement lifestyle
If you are in, or nearing, the retirement phase of your lifestyle you might be considering whether you want to stay in your current accommodation, or look for something to suit your needs as they change over the coming years.
Details
Carrick Aland named Boutique Firm of the Year
Carrick Aland Group was named Boutique Firm of the Year at the Australian Accounting Awards in Sydney, highlighting how boutique accounting firms play an integral role in serving our local communities.
Details
Avoid small business tax time errors
Our advice throughout tax time is vital to avoid common errors. The benefits of regular contact with us, including letting us know when your circumstances change, are key to avoiding mistakes.
Details
Navigating your way through redundancy
A Financial Adviser will discuss the impact of redundancy on your overall financial situation and how to achieve a favourable payment outcome.
Details
Marketing expense deductions
With tax time looming, are you up to date on which marketing expenses you can claim for your business? Read this article to learn more.
Details
Superannuation Tax Deduction Opportunities
When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working.
DetailsSuperannuation guarantee increase on 1 July
Employers should turn their attention to managing the superannuation guarantee (SG) increase which comes into effect on 1 July.
DetailsMarket Wrap May 2021
Carrick Aland’s summary of global markets as the pandemic lingers, including major asset class performance and currency markets for May 2021.
Details
SMSF quarterly statistical report – March 2021
The ATO’s March 2021 quarterly statistical report has revealed the total number of SMSFs will soon hit 600,000, with consistent growth seen across establishments and assets as the industry heads into a post-COVID recovery economy.
Details2021 Federal Budget — what it means for business
To help create jobs and confidence after COVID-19 created the first recession since 1990, the Federal Government released a big-spending 2021-22 Federal Budget. We look at the impact on business owners.
Details
2021 Federal Budget — what it means for taxpayers
To help create jobs and confidence after COVID-19 created the first recession since 1990, the Federal Government has just released a big-spending 2021-22 Federal Budget.
Details
Budget update 2021/22
The Budget proposes positive changes to superannuation, an extension of the low and middle-income tax offsets and a boost to aged care services. We summarise some of the key points from the Budget but, remember, these are subject to the passing of legislation.
Details
Why insurance matters
Having a plan in place if things do take an unexpected turn can mean that our health, lifestyle and family are better protected. Read how.
Details
Changes to SMSF rollovers and release authorities
From 1 October 2021, self-managed super funds (SMSFs) will need to use SuperStream to roll over super to or from their funds. These changes are due to government measures announced in 2019.
DetailsMarket Wrap April 2021
Carrick Aland’s summary of global markets as the pandemic lingers, including major asset class performance and currency markets for April 2021.
DetailsEligibility for downsizer contributions to super
Older Australians who meet eligibility requirements can contribute up to $300,000 from the sale of their home into their super.
Details
Your SMSF may have a TBAR due 28 April
The transfer balance account report for some SMSFs is due 28 April 2021. The TBAR is separate from the SMSF annual return and is a trustee reporting obligation. FInd out if you need to act.
DetailsIndexation of super contributions caps
When building an appropriate super nest egg, it’s important to understand the factors that can have an impact on your super balance come retirement. One of these factors is super contributions.
Details
Helping your children, financially speaking
As a parent you probably have great expectations for your child. They will have everything you had and more! You will consider their every need and make the most of every opportunity to help them get ahead, right?
Details
Four ways to teach children healthy money habits
As a parent, you try to ensure your children have the skills to make smart financial decisions. For example, you tell them about the importance of saving or the power of compounding interest. But did you know that you could be sending them negative money messages without meaning to?
DetailsTax treatment of cryptocurrencies
If you invest in cryptocurrency you may need to include a capital gain or loss in your tax return. Find out how capital gains tax applies to cryptocurrency and the types of records that need to be maintained.
Details
ATO’s taxable payments reporting system
More than 60,000 businesses haven’t complied with lodgement requirements under the Taxable payments reporting system for 2019–20. The TPRS is a black economy measure that helps the ATO identify contractors who don’t report or under-report income.
Details
Cash flow can make or break your business, so take time to safeguard it
According to a recent survey by research firm East & Partners for lender Scottish Pacific, nearly 80% of owners of small and medium enterprises said cash flow issues caused them the most sleepless nights.
Details
Economic Update @ February 2021
Over the month of February, the economic data that was released showed mixed results and share markets were volatile. However, optimism over medium-term growth and the global economic recovery continues to outweigh short-term concerns. Falling COVID-19 cases and vaccine deployment has reduced restrictions and economies are expected to reopen soon.
Details
Be your best tradie with the right tech
How can tradespeople go about streamlining their business and help set themselves up for 2021 with success?
Details
Understanding some of the aged care terminology
Aged care is a complex and emotive topic and many people don’t think about their aged care needs until the time to do something is upon them – at which point the options can be limiting.
Details
Duty, super and succession
In a planning process that establishes independent, financial security for the exiting generation as the priority, taking advantage of the significant taxation concessions associated with participating in this investment environment cannot be overlooked.
DetailsATO online services for business
Online services for business has been co-designed with business and makes it easier for you to interact with the ATO online to manage your tax and super obligations.
DetailsRural Succession Planning Workshop
Carrick Aland Managing Partner and rural Succession Specialist, Wayne Turner, will be speaking at a free Rural Financial Counselling Service event on 3 March 2021 in Clifton.
DetailsEconomic Update as at January 2021
Over the month of January, economic data signalled a short term hit due to pandemic-related restrictions. This overshadowed a strong fourth quarter experienced by China. The continued global roll-out of…
Details
Small steps to great success
If you want to get ahead, financially, it’s necessary to take some steps to get there. It may seem daunting and overwhelming but like anything, if you have a professional guiding you along the way, small steps can lead to something great.
Details
Can the JobMaker Hiring Credit help your business?
The JobMaker Hiring Credit could mean that your business will receive payments for new positions you create. Find out if you’re eligible.
Details
The financial impact of a furry friend
There are over 29 million pets in Australia with approximately 61% of households owning one of these 29 million pets. Of that 61%, most are dog owners at 40%, followed by cat owners at 27%. In 2019, over 60% of dog and cat owners considered their pet as a member of their family – which means we want to treat them well and keep them in good health for a long and happy life, but at what cost?
Details
What financial mistakes have you made? Could they have been avoided?
Have you made a big financial mistake in the past? One that cost you a lot of time and money to fix? One that caused you a big headache?
Financial stress can be a major trigger for a lot of people, it is a big burden to carry around, but not one you need to carry alone. Speaking to a professional Financial Adviser can set your mind at ease once you have a plan in place and a financial goal to build towards.
Capital Gains Tax and succession
The focus of a well-orchestrated succession planning process must be around discovering and addressing the wants of individuals in a manner that ensures ongoing business viability along with the achievement of alignment and a sense of family equity. Read how.
DetailsEconomic Update as at December 2020
Over the month of December, markets broadly achieved positive returns as vaccine roll-outs and another fiscal stimulus package in the US offset bad news on the virus front. Restrictions tightened in many countries as new COVID-19 cases across the developed world surged, as a new more infectious COVID-19 strain began to spread globally. However, vaccination programs have given markets hope that economies will fully reopen over the next year.
Details
Five ways to stick to your financial resolutions
It’s that time of year when we set new goals or dust off old ones. But how can we boost our chances of sticking to our financial resolution? Here are some practical tips.
DetailsThe Roll of Wills and Other Legal Agreements in Succession Planning
Whilst not an exact science, following a structured framework in analysing differing concepts of equity not only assists in providing comfort in the context of “having done the best possible for all” but is also an effective tool in educating and conveying reason, to all family stakeholders, for what may be seen as tough, “knock on” implications of the concepts adopted.
Details
Staying Cyber Safe This Year
With the increased activity online – be it due to working from home, home schooling, or simply because we have found a great availability of engaging and interesting content and streaming services, we are online a lot more and need to consider if we are adhering to safe cyber practices at home. This means having the right protective measures in place, and ensuring we are discussing safe cyber practices with other members of our household.
Details
Back to work in agriculture incentive scheme
QLD agricultural employees could be eligible for payments of up to $1,500 to assist with accommodation & transport costs associated with travelling and staying remotely. Applications close once all funding has been allocated or before 30 June 2021.
DetailsCarrick Aland and the year that was 2020
As we farewell what was a very challenging year we would like to wish you all – your families and friends – a wonderful festive season. We look forward to seeing you in the new year! Please note that Carrick Aland’s office will be closed from 24th December 2020 and will reopen on 4th January 2021.
DetailsEconomic Update as at November 2020
While COVID-19 cases continued to soar in the US, UK and Continental Europe over November, markets shrugged off short-term developments and soared on the back of positive vaccine news and the US presidential election results. Domestic and developed overseas share markets achieved strong positive returns for the month, with outperformance in sectors that are expected to benefit from a removal in restrictions next year, such as energy.
Details
Succession planning and family equity
Economics dictates that succession in a farming environment can rarely directly involve all family members of the next generation. Economics also dictates that farming successors require what can often be viewed as a ‘leg up’ to ensure the successful continuation and future viability of farming or grazing operations. Read why.
DetailsSuper re-contribution strategy explained
Super re-contribution is a process where, upon you meeting a condition of release, you withdraw money from super fund and then re-contribute the funds back into your super fund as a personal non-concessional contribution. This process is used to increase the tax free portion of your super fund benefit.
DetailsEconomic Update as at October 2020
Overseas shares posted negative returns in October 2020 as fears of a slowdown in the recovery materialised with onerous restrictions being re-imposed amid resurgence in COVID-19 cases. Overseas shares fell back into negative territory returning -3.2%, in hedged terms, over October. Global economic data for Q3 is showing a rebound from a similar sized economic collapse but forward looking data is already indicating another slowdown ahead, especially in Europe and the United Kingdom (UK) as further cases have brought back restrictions.
DetailsLeaving the next generation with a viable ongoing business
To achieve a level of comfort around accepting the financial position imposed by any proposed plan, farm successors need to know exactly how addressing the identified wants of an exiting generation will impact their future viability.
Details
Do you have more than one super account?
Did you know there are over 10 million Australians with a superannuation account, approximately 36% of which hold more than one, which make up $20.8 billion in ‘lost super’. Is some of that yours?
Details
The Financial Impact of a Furry Friend
There are over 29 million pets in Australia with approximately 61% of households owning one of these 29 million pets. Of that 61%, most are dog owners at 40%, followed by cat owners at 27%. In 2019, over 60% of dog and cat owners considered their pet as a member of their family[1] – which means we want to treat them well and keep them in good health for a long and happy life, but at what cost?
Details
Succession planning and establishing the wants
In our first article of this succession planning series, we focused on recognising the need for and encouraging early engagement in the succession process. But where to start?
Details
Double check ABNs at natural disaster time
As the risk of natural disasters increases at this time of year, check your Australian business number (ABN) details are current and refresh if needed. Emergency services and government agencies can use ABN details to provide help to you in times of emergency.
Details
Federal Budget farm machinery write-offs
Under the Federal Budget handed down this month, farmers can instantly write off the full value of machinery purchases. Previously, a portion would have been tax-deductible in the first year, and the rest would have depreciated over future years.
Details
Activity supplement
You can claim an activity supplement if you get Farm Household Allowance. Activity supplements help pay for activities in your Financial Improvement Agreement and can add up to $10,000 in total.
DetailsSuccession planning: need and timing
There is a lot of good to be achieved when succession planning is taken on proactively and within a structured process. Having wholesome conversations that discover the objectives and desires of all involved and dealing with challenging decisions without delay makes the process much easier and rewarding for all.
DetailsEconomic Update as at September 2020
Over the month of September, markets experienced a reversal in investor sentiment. Apart from Overseas Small Caps and Emerging Markets, which returned 1.0% and 1.5% respectively for the month, equity markets broadly experienced negative returns.
Details
Impact of Cotton report
Cotton with a Conscience report examines the contribution that cotton makes to our economy, the investment in the health, safety, education and prosperity of its workforce, and the ways in which cotton community businesses and individuals give back locally through financial, time and in-kind contributions.
DetailsWage theft now a criminal offence in Queensland
The Queensland Criminal Code has been amended to enable employers to be prosecuted for stealing if they intentionally fail to pay or underpay their employees’ wages or other entitlements. If you’re an employer, do you know what’s required in relation to the new wage theft offence?
Details
2020/21 Federal Budget Summary
The Federal budget is out and it’s a once in a generation budget to rebuild and tame the recession. Business is at the heart of our economic recovery with a range of support measures and the creation of jobs.
DetailsSuccession planning for farming families
By failing to commence a transition, farming families could not only miss out on the business advantages that come from nurturing and developing another level of management autonomy, but also run the risk of missing out on real financial opportunities that have the potential to deliver a significantly enhanced the outcome for all.
DetailsInstant asset write-off and the car limit
If your business is eligible to claim the instant asset write-off, read why you need to consider the car limit.
Details
Take Control of your Retirement
Are you affected by the increase in the Age Pension’s qualifying age? Take steps now to avoid getting caught short on retirement income.
Details
Know your boosts inside and out
If you’ve received a cash flow boost, you may be wondering if the amounts you’ve received affect your income or deductions this tax time. Here are the four essentials you need to know when lodging your tax return.
Details
How to manage employees when you sell or close your business
Closing or selling a business can be complicated for both owners and employees. Understand how to manage your employees and your obligations if you close or sell your business.
Details
Own, Rent or Travel – What is your Retirement Lifestyle Preference?
As record numbers of Australians transition into retirement, considering your retirement lifestyle, the cost of living and your expected annual retirement income, is crucial in your retirement planning.
DetailsEconomic Update as at August 2020
For the month of August, growth assets performed well as investor momentum remained strong. Economic data continued to be encouraging with another strong set of US nonfarm payrolls. As the world continues to open up, retail sales for the US, UK and Eurozone are now back at pre-COVID-19 levels, following the worst quarterly GDP declines on record for most countries. Purchasing manager indices remain in expansionary territory. Australian small caps was the strongest performing equity market, returning 7.2% over August whilst overseas hedged investors realised greater relative gains from the continued appreciation of the Australian Dollar.
Details
2021 Science and Innovation Awards
Grant applications are now open for the 2021 Science and Innovation Awards for Young People in Agriculture, Fisheries and Forestry. If you’re 18-35 and want to make a difference in agriculture, this is your chance to apply for a grant of up to $22,000 to fund your project that will benefit Australia’s primary industries.
Details
Drought Community Support Initiative extension
Financial support of up to $3,000 is available to eligible drought-affected households through the Drought Community Support Initiative Round 2.
Details
Do you have more than one Super Account?
Did you know there is over 10 million Australians with a superannuation account, approximately 36% of which hold more super accounts, which make up $20.8 billion in ‘lost super’. Is some of that yours?
Details
QLD Volunteer grants open now
Volunteering Queensland, on behalf of the Australian Government, is offering 2020 Supplementary Volunteer Grants to organisations across Queensland to support the efforts of volunteers in building stronger, more resilient communities.
DetailsDiscuss Your Financial Goals Online!
If you are not able to visit us in person, or it is more convenient to work with us digitally, we have the capability and technology to make it easier for us to connect with you. We have also considered how we can do this in a safer online environment.
DetailsCash Boost for P&Cs
The ATO Not-for-Profit team are keen to ensure all eligible P&Cs receive their Cash Boost entitlement. In order to streamline the process, P&Cs are invited to complete a survey.
Details
Five tips for looking after your large household’s finances
Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress.
Here are some tips to help you effectively manage your household finances.
2020 ‘mini-Budget’
On 23 July 2020, a ‘mini-Budget’ was delivered by the Treasurer Josh Frydenberg. We provide a summary including the announcements made in relation to the COVID-19 early release of super and more. Due to the COVID-19 pandemic, the full 2020-21 Federal Budget will be delivered on 6 October 2020.
DetailsEconomic Update as at July 2020
The month of July generally saw positive returns across asset classes, as growth assets continue to gain. Emerging Markets were the strongest performing market in equities, with the MSCI EM Index (UH) returning 4.6% over the month. On the domestic front, Australian small caps outperformed large caps and overseas hedged investors realised greater gains from the appreciation of the Australian dollar.
Details‘Shortcut’ method for home office expenses
Work-related expenses can be complex, so it’s important to consider seeking professional advice from registered tax agents like Carrick Aland prior to lodging your tax return.
Details
Five Financial Moves to Make in your 40s
Being in your 40s often involves balancing many responsibilities that it becomes easy to neglect your own financial wellbeing. But it’s not too late to secure your future. Here are some tips that may help you financially make the most of your 40s.
Details
Deductions for work-related home office expenses
When it comes to lodging your individual tax return, Carrick Aland notes the important distinction between taxable income and assessable income.
Details
Tax time toolkit for factory employees
If you work as a factory worker, find out what you can claim as deductions for expenses incurred as a manufacturing employee.
Details
Tax time toolkit for real estate professionals
If you work as a sales professional, find out what you can claim as deductions for expenses incurred as an employee in real estate.
Details
Tax time toolkit for police
If you work as a police officer, find out what you can claim as deductions for expenses incurred as a community and personal service employee.
Details
Helping your children, financially speaking
As a parent you probably have great expectations for your child. They will have everything you had and more! You will consider their every need and make the most of every opportunity to help them get ahead, right?
Details
Tax time toolkit for nurses
If you work as a nurse, midwife or carer, find out what you can claim as deductions for expenses incurred as a community and personal service worker.
Details
Tax time toolkit for cleaners
If you work as a cleaner, find out what you can claim as deductions for expenses incurred as a cleaning employee.
Details
Get Insurance While You’re Still Bulletproof
According to research by TAL insurance provider the cost of personal insurance soars after the age of 35. This is also the time in our lives that you may be going through significant change such as marriage, children, a bigger mortgage and more responsibilities.
DetailsEconomic Update as at June 2020
Growth assets continued to recover over June, but at a slower and more volatile pace than in May. Markets were encouraged by the gradual reopening across the developed world and by economic activity indicators, such as non-farm payrolls, but the optimism was tempered by evidence of the pandemic regaining pace in the US and some large emerging market countries such as India and Brazil.
Details
Tax time toolkit for hairdressers and beauty therapists
If you work as a hairdresser or beauty therapist, find out what you can claim as deductions for expenses incurred as a salon employee.
Details
Tax time toolkit for office workers
If you work in an office, find out what you can claim as deductions for expenses incurred as a clerical or administrative employee.
Details
Paid a tradie or other contractor to help you?
For anyone in building and construction, cleaning, courier, road freight service, IT or security, if you’ve paid a tradie or other contractor for building and construction services in the last year, check if you need to lodge a Taxable Payments Annual Report (TPAR) by 28 August.
Details
Tax time toolkit for retail employees
If you work in retail, find out what you can claim as deductions for expenses incurred as a retail employee.
Details
Tax time toolkit for miners
If you’re a miner, learn what you can claim at tax time. Find out what you can claim as deductions for expenses incurred as a mining employee.
Details
Tax time toolkit for teachers
If you’re an educator, learn what you can claim as deductions for expenses incurred as a teaching employee.
DetailsTax time toolkit for tradies
If you’re a tradie, learn what you can claim at tax time. Find out what you can claim as deductions for expenses incurred as an employee tradie.
Details
Small Steps to Great Success
If you want to get ahead, financially, it’s necessary to take some steps to get there. It may seem daunting and overwhelming but like anything, if you have a professional guiding you along the way, small steps can lead to something great.
DetailsTax time toolkit for agriculture employees
Carrick Aland’s own tax team is comprised of many local farmers who know firsthand that the devil is in the detail when it comes to getting your tax right. If you’re an employee in the agriculture industry it pays to learn what you can claim at tax time.
DetailsKey FY21 changes to note
HAPPY FY21! Some changes help minimise tax. Others reduce exposure to an ATO tax audit. We have outlined these action points to assist you. Please carefully consider this information and contact us immediately if you have any questions we can answer or assist.
DetailsLast Minute Tax Minimisation Tips
This has probably been the most difficult year ever for business owners due to the impact of COVID-19. And this makes Tax Planning for 2020 and key actions before 30 June more important this year than for any previous year. As a business owner, there are many obligations that you need to consider and action just before and after 30 June.
DetailsEconomic Update as at May 2020
Following the strong rebound in risk assets over April, the recovery continued into the month of May. Markets were encouraged by the slowdown in new COVID-19 cases and the gradual relaxation of lockdown restrictions across a number of US states, European countries and the United Kingdom.
DetailsJon Glass’s Top Tips For Retirement
Retirement is a major transformation in your life. So why should you want to ‘fall into it’ when some planning and thought can help?
Details
$150,000 instant asset write-off extended
Farmers have applauded the federal government’s decision to extend its $150,000 instant asset investment write-off offer until December after many businesses highlighted the previous deadline was too short to make practical use of the incentive.
Details
QLD non-essential business and activities
Update to keeping safe by restricting business and activities to prevent new cases of COVID-19.
Details
2020 Business Tax Planning Guide
Imagine what you could do with tax saved? Use our guide for strategies you can use to minimise your business tax and talk with us before the 30 June 2020 deadline for assistance to reduce your tax!
DetailsSBSCH USERS Deadline reminder to claim your tax deduction
Small Business Superannuation Clearing House users – want to claim a deduction for superannuation contributions? Your super payments must be accepted by 23 June 2020.
DetailsFarm Financial Plans
Carrick Aland has farmers covered with Farm Advisory services including your Farm’s Financial Plan. Call us 07 4669 9800 to get your Farm’s Financial Plan underway with a free no-obligation demonstration to see your FY21 farm budget in a new light.
DetailsQLD Small Business Adaption Grant Program
The objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience.
DetailsEconomic Update as at April 2020
The fiscal and monetary stimulus packages implemented by governments and central banks globally have helped markets rebound fairly strongly over the month of April. Central bank interventions and massive asset purchase programs, including high yield bonds and direct lending to companies, helped restore liquidity in the global financial system.
Details
Expanded instant asset write-off ends in weeks
Small to medium-sized businesses are reminded that there are just weeks left to make the most of the government’s increased instant asset write-off offer.
DetailsJobKeeper Payment phone scam
⚠️ The ATO is receiving reports of scammers pretending to be from the ATO calling members of the public and asking them to provide their bank account details. They are saying that their employer has registered them for JobKeeper, but that the ATO needs their bank account details to deposit the funds into their account. Do not provide the information requested. If you are unsure if an ATO call is legitimate, hang up and phone 1800 008 540 to check.
Details
COVID-19 and residential rental property
The ATO has developed some information to assist clients with residential rental property to understand their tax obligations during COVID-19. Check the frequently asked questions link for help with answers to common questions.
Details
Queensland Small Business Month 2020
May is the month to show your support for Queensland’s small businesses. Shop locally and show how you support small business on social media with #supportsmall. Find information on immediate support available for small businesses as a result of COVID-19.
Details
The Government’s JobKeeper Payment explained
If your business is signed up to receive the JobKeeper payment subsidy, the first monthly report is due BEFORE you get paid.
DetailsEconomic Update as at March 2020
COVID-19 has continued to spread rapidly around the world and was declared a global pandemic by the World Health Organisation. This has caused a severe shock to the global economy and financial markets have responded with sharp drops in share prices, a rise in credit spreads and a flight to defensive assets over March.
DetailsCOVID-19 and the Importance of Life Insurance
The advent of a global pandemic in COVID-19 has been a shocking event in many ways, more obviously from a health perspective. COVID-19 is clearly a highly dangerous virus for…
DetailsIncrease in Scams Targeting Superannuation
The ACCC has advised that scammers are taking advantage of people financially impacted by the Coronavirus crisis by falsely selling products or services online and using fake emails or text messages to try and obtain personal data.
Details
Summary of COVID-19 stimulus announcements
Please review our summary of economic stimulus as each currently stands and contact Carrick Aland to discuss further your options and what may be available for you. We have outlined details for 13 Federal and State Government initiatives.
Details
Nominations open for 2020 Australian Farmer of the Year
Nominate a farmer for the prestigious Farmer of the Year Award! Farmers across the country are encouraged to nominate in the Kondinin Group and ABC Rural 2020 Australian Farmer of the Year Awards.
DetailsMarket Volatility and Your Portfolio Factsheet
Concerned about recent market volatility and the effect on your portfolio? Volatility is part of investing, and whilst we can avoid it, there’s typically a price to pay for doing…
Details
Understanding Changes to Centrelink Entitlements
Are you concerned about your Social Security (and Department of Veterans’ Affairs) pensions and other income support benefits due to the Coronavirus situation? Recent changes in the value of your investments due to market movements may increase your social security entitlements, or you may become eligible for a benefit.
DetailsUpdate on Government Stimulus Measures to Combat Coronavirus
Since the release of the Coronavirus stimulus package there has been some clarification of several measures and a number of further announcements which seek to extend assistance to more people who have been impacted.
Details
Are you concerned about your business in these uncertain times?
As the coronavirus impacts our country and our way of life, we’re not only helping farm and business owners to endure the COVID-19 crisis; we’re future planning with families and businesses to thrive beyond it.
DetailsEmployees working from home
Working from home because of coronavirus? You’re now eligible for a new 80 cents per hour tax shortcut.
Details
$50M in coronavirus tax relief for Qld pubs and clubs
The Qld Government has announced extra tax relief for Queensland pubs and clubs who are impacted by the new measures introduced in response to the Coronavirus (COVID-19) health crisis.
Details
FREE Working from Home ATO factsheet
If you work from home right now, remember to keep records and receipts for your home office expenses, along with a record of the hours you work from home. Keeping good records now will help to get your deductions right at tax time. The ATO has a PDF poster you can download to help understand what you can claim.
Details
State and territory information, grants and assistance
Find the latest coronavirus information, grants and support in your state or territory.
Details
Coronavirus and Australian workplace laws
Find out about your workplace entitlements and obligations if you’re affected by the outbreak of COVID-19, including information about stand downs from work, working arrangements impacted by school closures, and pay and sick leave entitlements.
DetailsQLD Market diversification and resilience grants
Business Queensland is providing assistance for businesses impacted by the coronavirus (COVID-19) outbreak through the Market Diversification and Resilience Grants (MDRG) program.
Details
Coronavirus support available for sole traders
The Australian Government has announced measures to support businesses impacted by the coronavirus (COVID-19). If you’re a sole trader, learn what your business can get and where to go for help.
Details
Coronavirus JobKeeper Payment
The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.
Details
Cash flow assistance for small business including P&Cs
The Government has increased its stimulus package to businesses and not-for-profits that have employees. State School P&Cs will qualify if they had employees at the 12th March 2020.
DetailsWidespread reports of COVID-19 malicious scams
In the last three months, the ACSC and the Australian Competition and the Consumer Commission’s (ACCC) Scamwatch have received over 140 reports from individuals and businesses across Australia.
DetailsQRIDA COVID-19 Jobs Support Loans
The Queensland Government’s $1 billion COVID-19 Jobs Support Loan scheme is closed. QRIDA has updated its COVID-19 Jobs Support Loan page to indicate what successful candidates can expect for ongoing management of their loan.
DetailsGovernment’s Stimulus Package response for business
The Government is providing cash flow assistance for eligible businesses in the form of two separate measures. The following is a broad summary of the key aspects of the stimulus package in response to the Coronavirus, as recently announced and enacted.
DetailsGovernment’s Stimulus Package response to the Coronavirus for individuals
Various income support for individuals measures have been introduced so as to provide a ‘safety net’ for individuals who are financially impacted by the Coronavirus.
Details
Income support for Individuals
To help with cash flow pressures during the coronavirus epidemic, the Commonwealth Government has made available an additional $550 per person per fortnight eligible for Farm Household Allowance as part of the updated economic stimulus package. We urge you to call us now on 07 4669 9800 to check your eligibility and for help with the application.
DetailsCoronavirus Economic Stimulus Package UPDATE
The Commonwealth Government yesterday released the second stage of its stimulus plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. A total of $189 billion is being injected into the economy by all arms of Government in order to keep Australians in work and businesses in business.
DetailsEconomic Update as at February 2020
Coronavirus fears drove losses across equity markets and sparked a flight to defensive assets over February. Global equity markets reached fresh highs in mid February, then sold off sharply alongside other risky assets shortly thereafter. The sell-off in markets stem from investor concerns regarding the spread of COVID-19, with an acceleration in reported cases outside mainland China, specifically in Italy, Iran and South Korea and the ramifications on global economic growth.
Details
Coronavirus Economic Stimulus Package
Australia’s Coronavirus Economic Stimulus package has been launched as a measure to protect the economy by maintaining confidence, supporting investment and keeping people in their jobs.
Details
Market Update: Markets Fall on Oil Price & Virus Shocks
Market fluctuations often occur and short-term uncertainty is common. Over the long term, investment portfolios that are sensibly put together seek to deliver on long-term objectives.
Details
Crowdfunding disaster relief and tax
Read why giving to or receiving money from crowdfunding campaigns set up to help people impacted by drought or disaster can have tax implications.
DetailsPAYG instalment variations
The ATO is expected to adopt a ‘benign approach’ to PAYG instalment variations in the wake of recent disasters. Business and farm operators should seek assistance to talk with us about where your profit is year to date and what options you may have to vary instalments.
Details
Markets fall on coronavirus fears
Share markets fell last week with the Australian market experiencing one of its worst weeks since August 2011 (when people thought the EU would break up). Negative returns in any given period can happen in the share market with this week standing out for its severity. However, we also see historically shares have lost value in approximately 22 weeks out every 52 weeks since 1980. It is not a rare thing to see in the share market.
Details
Regional Investment Corporation (RIC) interest free Drought loans
The Government announced changes to the Drought loan scheme. The biggest change is the enhancement of Drought loan terms to offer 2 years interest free, 3 years interest only and 5 years principal and interest. Loans are for amounts of up to $2 million.
Details
Ergon Energy drought relief
If you’re a farmer living in a drought-affected area, Ergon Energy may be able to help. They offer drought relief in the form of waived charges and deferred payments.
Details
New award requirements from March 2020
If you’re an Australian employer, you may be aware that changes took effect from 1 March 2020 to modern awards that will require added compliance.
DetailsBushfire grants available to more Qld primary producers
Impacted farmers in an additional 11 local government areas across Southern and Eastern Queensland will now have access to grants of up to $75,000 to assist with their bushfire recovery.
Details
Sarah Tobin Assistant Accountant Dalby
Read the reasons Carrick Aland Assistant Accountant Sarah Tobin took a leap of faith six years ago, relocated Down Under and decided to make the Western Downs her home.
Details
Strategies For Dealing With Market Volatility
Financial markets by their nature are volatile. However, the more worrying time for investors is during periods of high volatility when prices move rapidly and unpredictably.
Market volatility can be a curse or a blessing. It all depends on how ready you are to deal with it.
How to open new markets with fresh new products
Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business. We look at how to open new markets with fresh new products or services using 7 great strategies.
DetailsCoronavirus: The Economic Impact
What do we know so far? Since late December 2019 a new coronavirus strain, the 2019-nCov virus, began to emerge from Wuhan, China. The outbreak has been predominantly focused in…
DetailsEconomic Update as at January 2020
Global shares closed out the month with losses after reaching fresh highs in mid January 2020. Market sentiment has deteriorated since the coronavirus outbreak in mid January and its potential…
Details
February 2020 fuel tax credit rate increase
Understand the new fuel tax credit rates and the importance of calculating claims correctly and keeping complete and accurate records.
Details
How to make your early stage business run more efficiently
Having the right technology can help you get new customers, upsell to existing ones, expand your offering and improve efficiency so you have time to focus on what matters. Here are some tips on the technology that will have an immediate effect on your business.
Details
Reach Out Indigenous business support pilot program
The ATO announced the expansion of their Reach Out Indigenous business support pilot program to help Indigenous small businesses meet their tax and superannuation obligations through tailored support and education.
Details
New Year, New Job – What are your Resolutions?
New year is a great time for making lifestyle changes, however, for resolutions affecting your financial health, there’s often no better time than when starting a new job.
Details
Income Protection Insurance Is Changing
From 31 March 2020, insurance companies must stop providing ‘agreed value’ policies that are based on the income you advise at the start of cover, regardless of any subsequent change in income. This means no more ‘agreed value’ contracts can be bought or sold after 31 March 2020.
DetailsEconomic Update as at December 2019
Global equity markets staged a strong finish to 2019, with investors favouring riskier assets amidst declining trade war concerns and easing geopolitical tensions. US equities posted solid returns over December, as Hedged Overseas Developed Shares increased by 2.3%.
DetailsDo you hire contractors?
Read why employers can be caught out with penalties and charges if they misclassify their workers.
Details
How to find new customers
Happy New Year! Read how to find new customers with 11 easy ideas that you can try as you ease back into work or use to build a specific campaign.
Details
Rapid growth in use of Buy-Now-Pay-Later digital payments
New research from Roy Morgan shows 1.95 million Australians used one of the latest ‘buy-now-pay-later’ digital payment methods such as Afterpay, zipPay or zipMoney in the year to September 2019, up from 1.38 million in the previous 12 months.
DetailsEconomic Update as at November 2019
Equity markets extended their rally in November with major indices reaching new highs. Markets were encouraged by reported progress on trade negotiations between the US and China, coupled with stable economic readings in the US and initial signs that growth deterioration in Europe may have bottomed.
DetailsBushfires November 2019
If your business or residential address is in one of the bushfire impacted postcodes, the ATO will automatically grant a two-month deferral for activity statements lodgments and payments due.
Details
Scooters for Salvos
Carrick Aland is delighted to be able to donate scooters and balls with funds raised from our team so that the Salvation Army can give these out to deserving kids this Christmas.
Details
QRIDA Primary Producer Sustainability Loans
QRIDA Sustainability Loans provide finance of up to $1,300,000 to assist in achieving a more productive and sustainable primary production enterprise.
Details
Talbingo benefits from accounting upgrade
Read why Talbingo Pastoral Company’s move to Xero with ReceiptBank and Figured add-ons has been a worthwhile and timely process for their business.
DetailsHow to increase your existing customers
Read how to increase your existing customer base with 9 easy ideas in time for the end of the year and planning for the next calendar year.
Details
Fringe benefits tax and Christmas parties
Reminder of the potential fringe benefits tax (FBT) implications for celebrating with employees this festive season. FBT obligations depend on the amount spent, when and where a party takes place, who attends and the value and type of gifts given.
Details
Australian digital business growth
Almost half of Australian bricks and mortar small business owners (48%) predict their business will operate entirely online in the future, with more than a quarter (26%) of these businesses foreseeing this happening in the next three years.
Details
Have you got employees who salary sacrifice into super?
Employers should take note of the new rules that became law on 28 October 2019, regarding the application of compulsory superannuation guarantee to salary sacrificed superannuation amounts.
Details
Toowoomba Auditor and Accountant David Johnston
Accountant and Auditor David Johnston has been a familiar face at Carrick Aland since 1990 when he joined us straight out of university. Now as a Director, read why David still finds his role challenging yet very rewarding.
DetailsRural Aid Financial Assistance Application
Rural Aid is offering primary producers in QLD drought-affected areas (or flood-affected North Queensland) a one-off $1,500 towards bill payment. Apply now.
Details
Fuel tax credits for passenger air conditioning
From 1 November 2019, you must claim fuel tax credits for fuel used to power passenger air conditioning units (for example in commercial buses and coaches) at the rate for ‘heavy vehicles for travelling on public roads’.
DetailsEconomic Update as at 31 October 2019
Equity markets returned mixed results during October. The US equity market rallied higher with major US indices reaching fresh highs. Hedged Overseas Developed Shares increased by 1.8% over the month. Markets were encouraged by the progress made on the US-China trade negotiations front and economic readings, which suggest that global growth may have stabilised.
Details
The risks with log-books
Close enough is not good enough. This case shows how pedantic the ATO – and AAT – will (and can) interpret the rules re a valid log book. Get some dates wrong and double up some odometer readings and it is not a valid logbook.
DetailsFuel up with BP and Xero Connect
Read how BP has partnered with Xero Connect in Australia to enable business customers to automate the entry of monthly invoices related to fuel expenses into Xero.
Details
Successful Investor Secrets
Successful investing can be one of your biggest allies in the quest for long-term financial security. Unfortunately, unsuccessful investing can leave you wishing you’d kept your money in the bank.
So what are the secrets to making your investments achieve what you want them to achieve? Here are some of the tactics used by successful investors around the world.
The Power of Regular Investing
One of the world’s most admired investors, Warren Buffett, is famous for saying “Don’t save what is left after spending; spend what is left after saving.”
While this approach may not always be possible, investing even just a small amount regularly can make a big difference over the long term.
Cotton farm curbs bookkeeping with cloud upgrade
Xero Certified Renae was already proficient in operating Xero with Carrick Aland’s clients and had experienced very positive outcomes using it, so it was a no brainer when it came to bringing her family’s farm onto a cloud bookkeeping system. We look at some of the key ways Renae helped to streamline the cotton farm’s bookkeeping.
Details
Carrick Aland named Dalby Business Excellence Award Winners
Carrick Aland were revealed as one of the winners at the 23rd Dalby Business Excellence Awards, announced at the ‘Diamonds & Dust’ gala event at the Dalby Events Centre on the weekend.
Details
Five tips for looking after your large household’s finances
Take the pain out of managing your family’s finances. Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress. Here are some tips to help you effectively manage your household finances.
Details
Carrick Aland mentioned in Federal Parliament
Carrick Aland received a Federal Parliamentary mention from the Hon Dr John McVeigh MP, who congratulated our team for being announced as the winner of the Professional and Business category at this month’s Heritage Bank Business Excellence Awards.
Details
Dollar Cost Averaging – Smoothing out the bumps
Whether it’s all new to you, or have some previous experience, investing your hard-earned dollars can be daunting. How can you be sure you’re entering the market at the right time?
Details
Carrick Aland’s Pink Ribbon Breakfast Fundraisers
Carrick Aland held morning teas in Dalby and Toowoomba to raise money for Cancer Council Australia’s Pink Ribbon Cause this year and we’re in the pink with how much we raised.
DetailsEconomic Update as at 30 September 2019
Equity markets rebounded over September, closing out a mixed and volatile third quarter with Hedged Overseas Developed Shares increasing by 2.3%. Investors looked past global trade friction, softer global manufacturing activities and macro uncertainties, with additional monetary stimulus helping to alleviate investor concerns.
Details
Carrick Aland named Heritage Bank Business Excellence Awards Winners
Toowoomba Chamber of Commerce named Carrick Aland their Banking, Finance & Legal award winners for 2019. Carrick Aland were also named overall the Business & Professional Division Winners out of a field of 15 professional businesses.
DetailsFarming on the Front Foot Update
With unfavourable seasonal conditions expected to further reduce soil moisture levels in QLD cropping regions, we look at the impacts and the steps producers can take to plan and be prepared this summer.
Details
Five ways to keep your business debt under control
Piling up a lot of debt could leave your business in financial difficulty or, worse, bankrupt. Here are five ways that may help you manage debt and avoid a financial mess.
DetailsConcerned you’re losing precious profit margin?
There has never been an easier time to take a ‘deep dive’ into your financial figures as all the necessary components are at your fingertips. Read on for the 4 key ways Carrick Aland can assist you.
Details
Heritage Bank Business Excellence Awards Finalists
Carrick Aland is thrilled to have been shortlisted as finalists in the Heritage Bank Business Excellence Awards Professional & Business – Banking, Finance & Legal category.
Details
Toowoomba Accountant Renae Clapham
Cloud accounting technology is exciting for Renae, from mobile accessibility to intuitive learning and new features being added all the time. Working alongside Cameron Sorley in Toowoomba, cloud accounting is the predominant tool Renae reaches for when processing tax returns and doing BAS.
Details
When will I be a millionaire?
Many people dream of becoming a millionaire. For most people, it stays a dream. Why? A million dollars is certainly a lot of money, but despite how impressive it sounds it’s a target which is well within reach if you take into account the three key factors.
Details
Non-mulesed wool commands premium price during market slump
Despite prices in the overall wool market declining, non-mulesed wool is fetching premium prices because of the demand in Europe by retail brands looking for ethically produced wool.
DetailsEconomic Update as at 31 August 2019
Volatility returned to markets in August, driving equities lower while safe-haven assets enjoyed solid gains. The downturn in equity markets was largely driven by increased trade tensions and geopolitical uncertainties.
DetailsPutting your goals first
A goals-based investment approach isn’t focused on ‘beating the market’.
It’s about tailoring your investments to meet your personal goals.
Hiring a working holiday maker?
If your new employee has ticked the box at Question 8 on their Tax file Number declaration to declare they’re a ‘working holiday maker’ read what you need to do.
Details
Key Business Drivers build accurate responsive forecasts
Find out how understanding the key drivers of your business helps you to have a greater awareness of business or farm activity to be able to forecast more accurately.
Details
Meet PAYG Withholding Obligations or lose tax deduction
Are you meeting your PAYG Withholding obligations? If you are running a business, you can no longer claim deductions for payments to employees or workers if you have not met your PAYG obligations. This applies to tax returns lodged for the 2020 year onwards
Details
Four ways to teach children healthy money habits
As a parent, you try to ensure your children have the skills to make smart financial decisions. For example, you tell them about the importance of saving or the power of compounding interest. But did you know that you could be sending them negative money messages without meaning to?
DetailsHome expense payment fringe benefits
Paying your employee’s home phone or internet? Check if doing so may result in an expense payment fringe benefit.
DetailsContractor payments
Check if you need to report payments you made to contractors to the ATO in a Taxable payments annual report (TPAR) by 28 August 2019.
Details
Fuel tax credit rate increase
Fuel tax credit rates increased on 5 August 2019 in line with fuel excise indexation.
Details
Free E-Book: Get Inspired to Become a Better Gift-Giver!
Did you know, Australia is a generous country and spends nearly $20 billion a year on gifts? That’s about $1,200 per person per year or equivalent to buying a $4 coffee every weekday! Discover interesting insights around Australians and their spending habits as well as attitudes towards giving and receiving gifts.
DetailsThe human cost of late payments
Small business owners have enough on their plates. Running a business is hard enough as it is, without losing sleep over a late invoice. But there are things entrepreneurs can do to better manage late payers and bring more positivity to your workplace.
Details
$30,000 instant asset write-off
Did you know, you may be able to claim a deduction in your 2019 tax return for assets you bought for your business in the 2018-19 financial year?
Details
The value of having a financial adviser
Having an appropriate financial plan in place covers more than just investments and insurance. The same goes for a financial adviser – there are some you will just click with, who can help improve your financial future.
DetailsEconomic Update as at 31 July 2019
Global equities increased modestly in July, with Overseas Developed Shares rising 1.1% in hedged terms. US equities in particular reached fresh highs in the second half of July, largely driven by technology stocks, however markets pulled back following an indication from the US Federal Reserve (Fed) that the 0.25% rate cut, to a range of 2.00% to 2.25%, was not necessarily the beginning of an easing cycle.
DetailsQRIDA Rural Economic Development Grants
Grants are available up to a maximum of $250,000 with a 50 per cent cash contribution requirement from applicants. Example projects eligible could include the development of new products or markets, or improved business processes where such investment creates employment.
DetailsABN applications
The ATO has tweaked its Australian business number application process to ensure applicants are entitled to an ABN, giving it greater visibility over an applicant’s history.
Details
The Rule of 72: Risk it to get the biscuit, or slow and steady wins the race?
If investment had a magic number, it would be 72. Here’s why.
The rule of 72 is used to calculate approximately how many years it will take for an investment to double at a particular rate of return.
Low and middle-income tax offset now law
Changes to the Personal Income Tax Plan are now law. The low and middle income tax offset (LMITO) is not a ‘bonus’ and it is non-refundable.
Details
Why Aussie pork profits are plummeting
Read why Carrick Aland reminds QLD pork producers to keep an eye on gross margins and overheads as things are going to get tougher before they get better.
Details
How Social Media Affects Our Spending
Research shows social media can influence us to spend impulsively.
Social media use has been linked to our mood, self-esteem and even sleep. Can it also be linked to spending?
Research shows it can.
Future Drought Fund
The Coalition’s Future Drought Fund passes the Lower House, clearing the way for farmers to access $100 million for drought preparations and response from next year.
DetailsDeductions you can claim
Everyone wants a great tax refund (or the lowest tax to pay). We’re here to help you claim every last dollar you can, by working for you, not Mr Taxman. Here are 4 key essentials to get you started.
DetailsCotton grant program
Aussie Cotton Farmers Grow Communities is a grant program that aims to help support cotton-growing communities across Queensland and New South Wales. Applications close 30 August 2019.
DetailsEconomic Update as at 30 June 2019
Global equities rebounded in June following the sharp sell-off in May, with overseas developed shares rising 5.9% in hedged terms. Progress on trade talks and strong indications from central banks to move to more accommodative monetary policy supported the risk-on environment for investors.
DetailsSuperannuation: Too Important to Ignore
Superannuation is the one thing you could do for your financial future this year, that could make a big difference to your retirement income. But how much do you really need? That’s a big question.
Details
Let us know what you think to win
Competition time! Leave Carrick Aland a Recommendation on Facebook or a Review on Google MyBusiness by 31 August 2019 and you’ll go into the prize draw for a $250 gift card from RM Williams. Good luck!
Details
New Superannuation Personal Liability Regime
NEW changes have far-reaching consequences for Directors of Companies who employ staff. Contact us if you have any concerns regarding your exposure to ATO liabilities.
Details
Important End of Financial Year Actions
Another financial has finished! As a business or farm owner, there are many obligations you need to consider and action just before and after 30 June.
Details
Tax, super and minimum wage changes
Another financial year dawns and already we’re inundated with changes to tax, superannuation and payroll. From tax concessions to a super overhaul, plus changes to the minimum wage and child care subsidies, use this guide to help you get across everything you need to know.
Details
Salary and wage earner deductions
You can claim a deduction for the cost of buying and cleaning occupation-specific clothing, protective clothing and unique, distinctive uniforms, but your record keeping needs to be spotless.
Details
EOFY Tax tips for primary producers
Learn why some of the best tax planning measures available to primary producers are effectively utilising the farm management deposits scheme, income averaging and other primary producer-specific tax concessions this tax time.
DetailsFinancial literacy case study
It can be easy for financial professionals to assume their clients understand their financial statements but we still come across those who don’t. Read why we’re redoubling our efforts to ensure our clients understand the basics from their financials.
DetailsNo tax deductions for unmet tax obligations
To ensure that you don’t lose your tax deduction for your employee or contractor payments, lodge your BAS on time, lodge your STP events every time you pay wages and withhold the correct amounts from your payments to employees and subcontractors. Read why.
DetailsEconomic Update as at 31 May 2019
Global equities experienced a sharp sell-off during May, with Overseas Developed Shares falling 6.0% in hedged terms. The turnaround in market sentiment, from the first four months of the year, was sparked by increased trade tensions between the US and China, as well as President Trump’s announcement of tariffs on Mexico.
DetailsLegislative update (Acts)
Many Bills managed to become Acts before the dissolution of Parliament. In this article, we look at those pertaining to business taxation.
Details
Find out the June RBA decision
At its June meeting, the Reserve Bank of Australia (RBA) cut the official cash rate to just 1.25% – the lowest level in Australian history.
Details
2019 Tax Planning
Now that the Federal Election has been won by the Coalition, our combined focus needs to be on how you can save tax before 30 June 2019! Read on for more information on how the tax offset may directly reduce the amount of tax you have to pay.
Details
Qld Back to Work programs
Support payments of up to $20,000 are available for eligible employers who hire eligible unemployed jobseekers in Queensland.
Details
New Minimum Wage announced
The Minimum Wage Panel on 30 May 2019 handed down its minimum wage decision for 2019. From the first pay period commencing on or after 1 July 2019, the National Minimum Wage will increase to $740.80 per week, or $19.49 per hour.
Details
Streamlining small business a key part of Emma’s role
Joining Carrick Aland in 2010, Emma learned her new profession from the ground up and is now a Xero Certified Adviser and a member of Jenny Lambley’s team. These days, she works with a range of businesses and not-for-profit organisations on their bookkeeping, typically BAS, data entry and payroll.
DetailsInsurance Through Super
Purchasing Life insurance, Income Protection and Total and Permanent Disability (TPD) insurance through super may be tax effective and also provide you with peace of mind.
DetailsPersonal Deductible Contributions
By making personal contributions to your super, you may be able to claim a tax deduction to reduce your tax liability.
DetailsFarming on the Front Foot Update Autumn 2019
When it comes to international trade, Australian sheepmeat and wool exports are benefiting most from Australia’s relationship with China. However, with the first importation of foreign wheat in a decade thanks to drought, grain and cattle exports have a longer road ahead and serious competition. Read why in our latest Farming on the Front Foot update.
Details
The Savings Paradox
It sounds counterintuitive; how can a person who stops saving at 30 wind up with more in the bank than someone who diligently saves their pennies up to age 65?
It’s not magic – it’s maths.
Personal Tax Planning Guide
Minimise your personal tax with our tax planning guide. Now’s the time to review what strategies you can use to minimise your tax before 30 June 2019.
DetailsSurviving in business
A new business starting today has less than 30 per cent chance of being around in a decade. To reach the 10-year mark relatively unscathed, we recommend that business owners and entrepreneurs consider these 4 Quadrants of a Business.
DetailsEconomic Update as at 30 April 2019
Global equities continued to rally during April, as overseas developed shares increased 3.9% in hedged terms over the month.
DetailsAct now to retain insurance in ‘inactive’ super accounts
If you have an ‘inactive’ super account (ie. which has not received a contribution (or rollover) for 16 months and you have not elected to keep your insurance), then any insurance cover contained in your super will be cancelled from 1 July 2019.
DetailsOn time BAS lodgement important more than ever
The on-time lodgement of BAS is now even more important than ever, because a failure to lodge the BAS on time may result in a business permanently losing its tax deduction for wages paid.
DetailsMinimise your business tax
Read our guide to the strategies you can use to minimise your business tax. Talk with us before the 30 June 2019 deadline for assistance to reduce your tax!
DetailsXero’s Payroll Only plan
From 1 July this year, Single Touch Payroll (STP) will apply to all employers in Australia. Following months of development by Xero, they’ve announced the launch of Payroll Only plan to assist small businesses with STP. See if it can help you.
DetailsRental property deductions
Read why ATO audits of rental deduction claims will double this tax time as the agency reinforces its claims that nine out of 10 deductions contained an error.
DetailsEconomic Update as at 31 March 2019
Global equity markets continued their run of positive performance into March 2019, as overseas developed shares increased 1.7% in hedged terms.
DetailsAddressing sham contracting
The Government has announced that it will establish a sham contracting unit — within the Fair Work Ombudsman — to address sham contracting behaviour engaged in by some employers.
Details
Social Security one-off energy assistance payment
Recipients who are eligible for qualifying payments on 2 April 2019 and who are resident in Australia will receive a one-off energy assistance payment.
DetailsIncreasing and expanding access to the instant asset write-off
The Government will still proceed with its previously announced measure to allow SBEs an instant asset write-off for eligible assets costing less than $25,000 that are first used or installed ready for use from 29 January 2019 until 7.30pm (AEDT) on 2 April 2019.
Details
The 2019/20 Federal Budget for High Earners
What the Federal Budget could mean for High Income Earners.
This year’s Federal Budget is an ‘election budget’ with future tax cuts for all Australians, but especially low and middle income earners.
The 2019/20 Federal Budget for Retirees & Pre-Retirees
What the Federal Budget could mean for Retirees & Pre-Retirees.
This year’s Federal Budget is an ‘election budget’ with future tax cuts for all Australians, especially low and middle income earners.
The 2019/20 Federal Budget for Families
What the Federal Budget could mean for Families.
This year’s Federal Budget is an ‘election budget’ with future tax cuts for all Australians, especially low and middle income earners.
The 2019/20 Federal Budget for Wealth Builders
What the Federal Budget could mean for Wealth Builders.
This year’s Federal Budget is an ‘election budget’ with future tax cuts for all Australians, especially low and middle income earners.
Federal Budget summary 2019–20
The 2019-20 Federal Budget is designed to showcase the return to surplus (and by default the Government’s economic credentials) and engage voters with initiatives to make them feel like they are more prosperous. A massive infrastructure spend adds to this sentiment.
Details
Employers hit with rolling SG audits
Employers are increasingly being subjected to a rolling series of audits by the ATO when they slip behind on their SG obligations, as the Tax Office has now taken a harder line on non-compliance.
DetailsSingle Touch Payroll starts 1 July
The laws to extend the Single Touch Payroll (STP) reporting requirements so they apply to all employers with fewer than 20 employees has now passed the Senate and will be Law. This means the STP regime is mandatory for employers of more than 20 staff from 1 July 2018, and will be mandatory for all employers by 1 July 2019.
DetailsECONOMIC UPDATE AS AT 28 FEBRUARY 2018
Growth investors would prove well positioned over February 2019 as the majority of equity markets experienced positive returns, continuing their rebound in performance from the previous month.
Details
P&C budgets
P&C Treasurers need budgets. So how do you go about setting one? What are the main things you need to put in? And what will it tell you? When you have to present your P&C budget at the AGM, we show you how to pull that together.
Details
Primary producers and farmers
In a similar vein to our business update, and considering the ongoing drought conditions, here are a few legislative changes relevant to primary producers and farmers.
DetailsDefault interest charges
Read the changes to the charging of Default Interest recommended by The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Details
Aged care: A highly complex and emotive topic
Reforms in aged care in recent years has meant the system has become complex and could even be confusing. Throw in that it is a highly emotive topic and it means it is an area that is in-demand for quality financial advice.
Details
ALP key tax policies
We’re not recommending who to vote for, but it’s important that you have an understanding of how these potential tax and other changes could affect you.
DetailsNew Receptionist for Carrick Aland Dalby
Dalby local Leesa only took up her seat at the reception desk this month, but she’s swiftly getting into the swing of things.
DetailsBuy a Bale fundraising smashed – thank you
Thanks to all of our fabulous supporters for your continued support of Australian farmers, east and west, north and south facing challenges on the land, through 2018’s Buy a Bale of Hay fundraising efforts.