Australians have one of the highest life expectancies in the world. Life expectancy from age 65 – males 87 Females 89. SMSF trustees are living longer… UK data shows wealthier people are living longer. US data shows better education also linked to higher longevity with a 9 years difference in life expenctancy between those who
Startups…the funding dilemma
There are lots of ways to get funding in Australia. However choosing the best type will depend on what you’re doing and how much you need. For an aspiring startup, the initial funding is the hardest money for entrepreneurs to get: That very first cash from the investors bold enough to take a chance and
Assistance with Child Care Fees
There are a range of payments and services to help families with the costs of child care and here’s a brief explanation of the Child Care Benefit and Child Care Rebate. Child Care Benefit (CCB) can help you with the cost of approved and registered child care. Child Care Rebate (CCR) can help
Xero Tip of the Month – Leave Improvements
Some recent improvements to handling leave in Xero will help make the experience better for everyone. Some of these changes could affect your existing leave requests. Here’s what you‘ll find in the latest update: Employees can submit a leave request for a partial day. Leave approvers can view
Getting ahead in your 50s
Life in your 50s is great. You don’t have a huge mortgage, the kids have grown up and are not as dependent on you, your career has progressed… So what is next financially? When you are in your 50s, you can see retirement on the horizon. Sure it might be 10-20 years off, but it
Importance of having a valid Will
We all know that we should have a Will, but do you actually know what a Will is and what are the consequences of not having one should you die without one? What is a Will? A Will is a legal document that outlines how you would like your assets (Estate) distributed when you die
Xero Tip of the Month – Billable Expenses
Billable expenses are costs you’re charged as part of a job that you want to recover from your customer. You might also refer to billable expenses as oncharging, onbilling, recharging, reimbursables, or pass on costs. Xero has recently released a Billable Expense feature that allows you to tag expenses you’ve incurred, so they can be easily
Pathway to Wealth Seminar Recently Held
Earlier this month Initiative Group presented our popular ‘Pathway to Wealth’ seminar for our clients. The seminar was very interactive and engaging, and was deemed a great success with more than 40 of our clients attending. We were fortunate enough to have as our guest speaker Rob McGregor, Director and Co-Founder of GPS Wealth, presenting
Income for Minors
A minor is a person who is under 18 years of age. Special rules apply to the income of minors. Under these rules, certain types of income, such as a distribution from a family trust, may be taxed at higher rates. These rules were introduced to discourage adults from splitting their income and diverting it
Thinking of buying a business?
Make sure you uncover the skeletons first. Apart from buying your home, the purchase of a business may be the next biggest purchase you’ll make during your life. Therefore it’s important to do your homework before you part with your hard earned money. In the accounting world we call this process ‘due diligence’. Due diligence
