As we approach the end of 2024, we want to take a moment to thank you for your trust and support throughout the year. It’s been an exciting and rewarding year for all of us at Holzworth Partners, and we’re proud to share some of our highlights with you: Year in Review A Prestigious Recognition: Jane Purnell was honoured as the Queensland Institute of Public Accountants Member of the Year. This achievement reflects our commitment
Read moreNegative gearing is a term commonly associated with property investment in Australia. It refers to the practice of borrowing money to purchase an investment property where the costs of owning that property—such as mortgage interest, maintenance, property management fees, and other expenses—are higher than the income generated from rent. This loss can be offset against the investor’s taxable income, reducing the amount of tax they are required to pay. Essentially, it allows property investors to
Read morePersonal Bookkeeping Managing your finances can be challenging, especially when juggling multiple investments, properties, or a busy schedule. Our personal bookkeeping services are designed to provide clarity and structure to your financial management, ensuring you stay organised and in control. Here’s an overview of how we can help: Our Process Consultation We begin by getting to know you and your financial plans. Whether you’re focusing on cash flow, investments, debt management, or saving for a
Read moreThe "Trump Trade" refers to the behavior of global financial markets and investor actions in response to Donald Trump's economic policies and political moves. It is fair to say that since the election of Donald Trump, markets have moved substantially.Here are some key market impacts:Stock Market: Mr Trump's policies, such as deregulation, tax cuts, and increased fiscal spending, have historically led to a surge in U.S. shares, especially in sectors like technology, financials, industrials, and
Read moreSelf-Managed Super Fund Members Retire with Higher Balances According to new research from accountancy software provider Class, SMSF members are retiring earlier and with larger member balances than their counterparts in public offer funds (i.e. retail, industry super). In the recently released “2024 Annual Benchmark Report,” Class revealed that members aged 60 to 64 in SMSFs are 2.7 times more likely to utilise a transition-to-retirement income stream (TRIS) or retirement-phase income stream than those in
Read moreTo 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
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