Browsing Archive: July, 2011

Will your kids pay tax this year?

Posted by Naomi Rosenthal on Monday, July 18, 2011, In : Financial Planning

In the most recent budget, the government changed the taxation laws such that minors receiving non-working income WILL NOT be entitled to the low income tax offset of $1,500 from 01 July 2011.

This means that if you have kids with investment monies (such as a bank balance that has accrued from all that birthday money), they might find they have a tax liability at the end of the financial year.

It also has an impact on your more complex affairs such as paying distributions from a famil...

How to move into retirement and be better off

Posted by Naomi Rosenthal on Monday, July 18, 2011, In : Superannuation

Move into retirement and be better off

If you’re between 55 and 75, establishing a transition to retirement pension could help you:

ease into retirement by reducing your working hours without reducing your income
increase your retirement savings without impacting your income if you are still working full time
boost your income today so you have more money to cover your everyday living expenses.

‘Transition to retirement’ rules were introduced to allow working Australians aged 55 ...

Winter Warmer

Posted by Naomi Rosenthal on Monday, July 18, 2011, In : General

I love a hearty, warming soup. My partner loves sweet potato. What happens when you combine the two?! Answer: Thai Sweet Potato Soup.
Click here for a delicious, nutritious winter warmer that's quick and easy to prepare.
Continue reading ...

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Responsibility for the content and opinions expressed herein rests solely with the author and opinions expressed do not necessarily represent the views and opinions of Millennium3 Financial Services Pty Ltd.
The information on this website is general in nature and may not be relevant to your individual circumstances. You should refrain from doing anything in reliance on this information without first obtaining suitable professional advice. You should obtain and consider a Product Disclosure Statement (PDS) before making any decision to acquire a product.
This information is for Australian residents only.
Whilst care has been exercised, the taxation information contained is provided as a guide only and may not be relied upon. If in doubt, you should seek independent tax advice from a qualified tax adviser.