We have collated a variety of essential resources for business, individuals and families to help you understand the supports and strategies available to assist with the financial impacts of the Coronavirus.
We have collated a variety of essential resources for business, individuals and families to help you understand the supports and strategies available to assist with the financial impacts of the Coronavirus.
During the last quarter one story has dominated the news and investment markets – COVID-19.
Unfortunately, many Australians lose their jobs every day and it can be a stressful period when it comes to covering household expenses. In this article, we provide five tips to help manage your finances if your income has fallen.
Tax planning will be vital for all individuals and businesses alike this financial year. Why is this? Because your tax return this year will likely be very different (income & expenses) to what it has been in the past.
The first quarter of 2020 will forever be remembered for delivering one of the greatest health and economic shocks of all time. The economic damage was an inevitable consequence of governments worldwide taking unprecedented action to curb the spread of the novel coronavirus that emerged in China in December 2019.
Key tax & lodgement dates for the April-June quarter 2020
Most of us had retirement dreams, and couldn’t wait to finish work. So once retired, why haven’t we started ticking items off the bucket list? There’s no time like now for living your dreams.
When Tony and Chris retired they had grand plans involving a campervan, Kakadu and a rescue-dog. Their great Australian road-trip was happening the very next year, after they, “just got few things out of the way”.
Each year in early May*, the Treasurer delivers the Federal Budget and many people across Australia listen intently. The Budget tells us how the government plans to spend its revenue in the coming year, whether it can afford to give us tax cuts, and whether it expects to spend more (creating a deficit) or less (creating a surplus) than it receives.
Budgets are also important on a personal level, especially when living costs are rising and uncertainty abounds. So it’s worth having a look at how you can manage your finances in the current economy.
Most people view share market downturns as unequivocally bad events. Suddenly, hard earned savings aren’t worth as much as they were yesterday. It seems as if our money is evaporating, and in the heat of the moment selling up can look like the best course of action.
The Alternative View
But on the opposite side of each share sale is a buyer who thinks that they are getting a bargain. Instead of getting 10 shares to the dollar yesterday, they might pick up 12 or 15 to the dollar today. When the market recovers, the bargain hunters can book a tidy profit.
(www.nsw.gov.au – official information on COVID-19 support for small business by the NSW state government)
As we previously advised, the NSW Government is providing financial support to ease the pressures on small business as a result of COVID-19.
Financial planning, corporate benefits and mortgage services are provided by AGS Financial Group Pty Ltd ABN 70 093 990 946, an Authorised Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 (AMPFP), AFS Licence No 232706. Accounting, taxation, and business advisory services are provided by AGS Accounting Pty Ltd ABN 12 166 728 696. AGS Accounting Pty Ltd is a member of Chartered Accountants Australia & New Zealand. Liability limited by a scheme approved under Professional Standards Legislation.