To know when your liability for tax under the provisions relating to capital gains (or losses) arises, you first need to know what is considered to be a capital gains tax (CGT) event? When you dispose of an asset that is subject to CGT, it is called a CGT event. This is the point at which you make a capital gain or loss. Common disposals that will trigger a CGT event include: selling an asset,
Read moreAs the digital world becomes an integral part of our daily lives, it’s more important than ever to stay vigilant about protecting your personal and financial information online. With October being Cyber Security Awareness Month, now is the perfect opportunity to assess your cyber safety practices and take steps to safeguard your data. At Holzworth Partners, we’re committed to not only helping you achieve your financial goals but also ensuring that your personal and financial information
Read moreAt Holzworth Partners, we believe that education is the foundation of sound financial decision-making. Our goal is to manage your finances and equip you with the knowledge and tools you need to achieve your financial goals with confidence. We are passionate about helping you understand every step of the process so you can make informed choices that align with your future aspirations. To ensure you have the right support, we’ve developed a variety of resources
Read morePassing Away with Out a Will Holzworth Legal's real-life case studies reveal the costly and stressful consequences of not having a Will. These stories show how proper estate planning ensures your wishes are followed and protects your loved ones from legal battles. Reach out to the team today to get help setting up your Wills and powers of attorney. To learn more about Wills, visit our page on Succession Planning Case Studies- The Case of
Read moreThe Australian Taxation Office (ATO) continues to increase its data gathering programs, having registered three further data-matching notices, stating these are for “compliance related purposes”. Below we summarise the latest initiatives. Notice of a lifestyle assets data-matching program - 26 August 2024 The ATO will acquire lifestyle assets data from insurance providers for 2023-24 through to 2025-26. Insurance policy data will be collected for specified classes of assets, where the relevant asset value is equal to or
Read moreIn the ever-evolving financial landscape, the importance of professional financial advice has never been more evident. A recent report by Russell Investments highlights how financial advisers can significantly boost client portfolios, with an estimated annual value add of 5.7%. This figure underscores the multifaceted role that advisers play in safeguarding and growing their clients’ wealth, particularly through behavioural coaching, comprehensive financial planning, and tailored advice. Behavioural Coaching: A Crucial Role in Wealth Preservation One of
Read moreGetting your head around property investment. If you’re a first-time investor, or you just want to better understand the lingo and investment performance measures, we’ve got you. We’ve put together easy to understand stats, facts and figures that any savvy property investor should get familiar with. To make life as an investor even easier, we’ve included some actions you can take if your property is not measuring up plus opportunities to look for if it
Read moreAs awareness of environmental, social, and governance (ESG) issues grows, many investors seek to align their investment portfolios with their personal values. ESG investing, which focuses on companies' ethical and sustainable practices, has become a popular choice for those who want to make a positive impact while achieving financial returns. For Australians, one of the most effective ways to customise ESG investments is through a Self-Managed Super Fund (SMSF). This article explores the benefits of
Read moreAs cryptocurrency gains popularity, many investors remain uncertain about their tax obligations. Recent surveys highlight a significant gap in understanding, leading to the need for better compliance and record-keeping. The Australian Taxation Office (ATO) has established clear guidelines for taxing cryptocurrency, and non-compliance can result in significant penalties. Survey Insights According to the Independent Reserve Cryptocurrency Index, nearly 45% of Australian cryptocurrency investors do not fully understand their tax responsibilities. Additionally, 54% of participants have
Read moreSeparation is never easy, and the complexities involved can make it even more challenging. If you are currently navigating or soon to be facing a separation, there are major financial and emotional factors that need careful consideration. In these circumstances, there are often no clear winners or losers, as the process can be emotionally taxing for everyone involved. The Family Law Act 1975 serves as the cornerstone of family law in Australia, providing essential guidelines
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