Jane Purnell, Author at Holzworth Partners - Page 5 of 8

7 Feb 2024

Ensuring Excellence in Financial Advice for Our Clients

Today, we would like to provide you with insights into a critical aspect of our commitment to delivering top-notch financial advice – the registration process for our relevant providers within the Australian financial services landscape. Understanding Your Financial Adviser: A 'relevant provider' is an individual directly involved in offering financial advice to you, our esteemed clients. This includes financial services licensees, authorised representatives, and employees or directors of financial services licensees authorised to provide personal advice

7 Feb 2024

Social Media – Friend or Foe?

By Jane Purnell

Our daily lives revolve around our families and work. A combination or one or the other of these dynamics means communicating on many levels. Fortunate or unfortunate most of our communication is driven by technology. We switch to our mobile phones or our televisions as the quickest and easiest way to keep us informed or in touch.Social media platforms are in our faces constantly, however if this form of communication is placed in immature or

10 Jan 2024

Transferring Real Property Interests Between Family Members in Queensland

By Jane Purnell

There are two common ways to transfer property to a family member – either selling or gifting. When the owner changes (either way), the title needs to be updated. Selling the property You can transfer title property by selling it to a family member. Parents often do this for children this way and may adjust the price to give them a better deal than buying a property at market rates. You will be liable for

5 Dec 2023

Who dies first?

By Jane Purnell

In our exploration of estate planning this month, we've delved into a topic that often doesn't get the attention it deserves: simultaneous deaths. While such events are rare, it's essential to understand the potential implications, especially when it comes to beneficiary nominations, both within and outside of superannuation. When two or more individuals pass away simultaneously, the order of their deaths becomes critical in determining the distribution of assets, particularly for jointly held property and

5 Dec 2023

What Happens with my Super if I Die?

By Jane Purnell

In most cases when someone passes away their super is paid to their dependents. However, there are instances where it is paid to the deceased’s estate. If a person’s super is paid after death, it’s called a death benefit, this benefit is comprised of their super account balance and if there was any death insurance cover. It is important to carefully consider who will receive any benefit as even if someone doesn’t have a lot

22 Nov 2023

Binding Death Benefit Nomination

By Jane Purnell

Incorporating your superannuation entitlements into your estate plan is crucial, particularly when they are not part of your estate. Superannuation can lead to substantial distributions to beneficiaries, emphasizing the importance of aligning payments with your wishes. A non-binding nomination guides your superannuation fund on distributing funds after your death, but the trustee ultimately decides the recipients, possibly deviating from your intended beneficiaries. On the other hand, a binding death benefit nomination (Binding Nomination) allows you

7 Nov 2023

Timing Your Mortgage Refinance for Maximum Benefits

By Jane Purnell

Are you contemplating a mortgage refinance? You likely understand that refinancing can be a powerful tool for optimising your financial situation. But when is the right time to make that move? Refinancing can provide various benefits, such as lower interest rates, reduced monthly payments, and even the ability to tap into your home's equity for other financial goals. Here are a few key factors to consider when determining the right moment for a mortgage refinance:

7 Nov 2023

Unlocking Investment Potential: Borrowing for Property with Your SMSF

By Jane Purnell

Why Consider Property Investment with Your SMSF? Diversifying your SMSF investments beyond traditional assets like stocks and bonds can be a wise decision. Property investment offers several advantages, such as potential rental income and capital appreciation. Here's a brief overview of the benefits: Tax Efficiency: Rental income and capital gains from property held within an SMSF can be taxed lower, potentially boosting your returns. Portfolio Diversification: Adding a property to your SMSF can help spread

3 Nov 2023

Maximise Tax Deductions of Investment Properties with Depreciation

By Jane Purnell

Property depreciation is the wear and tear of property and assets over time. Tax legislation, administered by the Australian Taxation Office (ATO) permits owners of income-producing properties to claim approved depreciation as a deduction offset against the income. This allows investors to claim the decline in value of the component parts which make up the investment property, over time. This includes the building structure and plant and equipment assets (See list below). To claim depreciation,

2 Nov 2023

$$$$ to a Family Member- Not as Simple as Yes or No

By Jane Purnell

Whilst it is an easy conversation to ask loved ones including parents for money to buy a home or do renovations, little thought goes into the harder scenario on contemplating how you go about ensuring that those funds are repaid. If you loan monies to your children, will you get your money back? This creates difficulty, especially for the older generation who may be relying on those funds to retire comfortably. It is becoming common