Author Archives: Karen Conlon

What you need to know about BFAs

A Binding Financial Agreement (BFA) is the Australian equivalent of a prenup. It is used to agree in advance on how a couple’s property and other assets would be distributed should their…

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Getting to know your social media audience

Knowing your audience is a fundamental aspect of social media marketing for your business. A good social media strategy will use the business’s knowledge of their audience to determine the type of…

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Paying tax on term deposits

The interest you earn from term deposits is subject to tax, just like your regular income. You have to declare investment income on your tax return, including interest in the year it…

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Introducing a new employee

Hiring a new employee is a time-consuming process that affects you, the company, and the team. It can often be especially nerve-wracking for the new employee starting a new job and joining…

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2019 Updates to the Pension Loan Scheme

Changes have been made to the Pension Loan Scheme (PLS) under the federal government that came into effect 1 July 2019. The updates aimed to improve the previous scheme and help more…

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Pros and cons of hiring an intern

With so many eager school-leavers looking for employment opportunities, hiring an intern can seem like a good way to offer work experience to someone without the risks of a long-term commitment of…

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Making NRAS claims

The national rental affordability scheme (NRAS) started on 1 July 2008, encouraging large-scale investment in affordable housing. It offers tax and cash incentives to providers of new dwellings for 10 years, granted…

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Does your SMSF meet the sole purpose test?

If you have a self-managed super fund (SMSF), then you need to meet the sole purpose test to be eligible for the tax concessions that are normally available to super funds. The…

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What to include in a business partnership agreement 

Entering into a business partnership can come with conflicts and misunderstandings between you and your new associate. This is why having a written agreement that clearly outlines your rights and responsibilities is…

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What you need to know about investment bonds

Investment bonds are a practical investment option for those who earn a high income and seek long term tax efficiencies. Investment bonds, also known as tax-paid, insurance or growth bonds, work similarly…

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