Month: February 2017

Essential SMSF Tax Rules You Need to Be Aware Of

Preparing for your retirement is an essential part of your working life. Whether you are in your 50s or still in your early 20s, it is never too early to prepare. A popular way to prepare for retirement is self-managed super funds (SMSFs). Many find the freedom and flexibility of administering and managing your fund preferable to being part of a larger fund.

However, self-managed super funds are not as easy as some people expect. There is self-managed super fund tax rules, as well as reporting and auditing requirements. The ATO carefully monitors these conditions

The first process is to set up the SMSF. This procedure requires a lot of identification and administration, but it can be done by the person who wants to set up the fund. Alternatively, you can ask a professional, such as a superannuation accountant to help you out.

Once the self-managed super fund has been set-up, there are some annual compliance requirements. These include submitting SMSF audits reports to the ATO. They then check whether your fund is compliant about the investments you have been choosing.

These reports and audits are passed annually, but some more often that once a year. Also, there are self-managed super fund tax rules that apply as well.

Generally speaking, self-managed super funds must pay income tax. If it is a complying fund in which some incomes are computable, then a regular tax of 15 percent is applicable. On the other hand, the non-complying SMSF has a regular tax of 45 percent. But some instances also require a different rate of tax.

As for the complying SMSFs, the incomes that are computable and are subjected to 15% tax are the following:

* The net capital income

* Contributions that are computable

* The interests, rents, and dividends

The fees for the SMSF auditor, the supervisor, and other fees incurred can be deducted as expenses. Since an SMSF is managed all by yourselves, it means that any shortcomings or mistakes in investments done in your SMSF will be accounted as your mistake. Consequences will follow, and they are mostly in the form of fines.

The taxation office does not give any advice on investments, and so if you are looking for sound investments for your SMSF, contact a professional who can help you in both SMSF audits and at the same time advise you on the best investment strategies. Always hire the best SMSF experts and to be sure of their reputation. You can ask for referrals from friends who have SMSF funds or ask your financial advisor for a recommendation. You need to be very careful as there are many experts today who claim to be professional. Remember that the expert you choose will determine the success or failure of your fund and it impacts your future.

Factors to Consider When Buying Artificial Grass Brisbane

Are you yearning to give an attractive look to the lawn in front of your house? Many homeowners wish to have a beautiful turf but are unable to devote time for mowing the grass. If you are someone who has a busy schedule, then it will be wise for you to get turf supplies to replace the grass on your garden. Below are points that you must consider while choosing a specific quality of artificial grass.

  1. Area that you need to cover

This is the first important point that you need to consider while buying a particular artificial grass from premium artificial grass Brisbane. Make sure to measure the area perfectly as it is directly related to the cost of installing the artificial lawn. A larger area to be covered will mean more cost of installation.

  1. What is your budget?

It is highly recommended to analyse the budget before planning to artificial grass for your garden. It will be beneficial to purchase the best quality artificial grass within your budget.

  1. Amount of movement on the artificial grass

Do you have pets in your house? Do small children in the neighbourhood often visit your place to enjoy various outdoor games? Then it will be wise for you to choose an artificial grass that can withstand an enormous amount of traffic. On the other hand, if you prefer your lawn to catch the eyes of your neighbours, then consider installing the artificial grass that has ornamental designs.

  1. Quality of the artificial grass

Determining the quality of the artificial grass is also paramount. For best results, make sure to buy an artificial lawn that has been manufactured using quality materials. Compare various characteristics of artificial grasses before purchasing.

  1. Colour of the artificial grass

There are various colours of artificial grass available in the market. If you are considering giving a natural look to your lawn, then make sure to buy an artificial turf that has the colour of natural grass. It will also be wise for you to match the colour of artificial grass with the exterior colour of your house.

  1. Cost of maintenance

This is a vital point that is mostly overlooked by most of the consumers when shopping for artificial grass supplies. If you do not want to spend an enormous amount of money on a regular basis, then make sure to buy an artificial grass that needs the least maintenance. Determine this factor when choosing artificial grass.

  1. Warranty on the artificial grass

There are various reputed brands of artificial grass available in the market. You need to enquire about the brand that offers a guarantee on their product. Also, determine the type of issues that are covered within the warranty period.

For quality products, consider premium artificial grass Brisbane. They are suppliers who have supplied synthetic grass products for many years. They have a good reputation in the market, and by hiring them, you can be sure of quality products and installation services. All their products are affordable and warranted. Contact them today and improve the value of your property.

Why Rent When It Is Possible to Own a Customised New Home?

Renting a home for your family is very stressful. Whenever you get a rental home, it will not always be located in the best neighbourhoods and the best schools. Your choices are limited. As the renter, you have no control over important decisions like making improvements, additions or even simple things like painting the walls to make the rental property perfect for you. Also as a renter, you don’t get the many benefits of homeownership, such as tax deductions and growing home equity. When we talk about equity, an owner of a rental home may decide to sell the home or could pass away, with a probate court ordering the house to be sold and the proceeds evenly distributed to the rest of the surviving family. This event would require the renter to move out without prior notice. The Regent new home builders are willing to work with home buyers to build their dream home.

Some people say they would rather rent a home than own one because homeownership has a high amount of responsibility. They are afraid that if something goes wrong, they will have the financial worries of repairs, which can be rather costly. To that, you only need to think of two things: insurance and home warranty programs.

Homeowner’s insurance, which is relatively inexpensive and included in monthly payments for those who finance their home, covers most major catastrophes such as fire, flood and storm damage. Home warranty programs pick up the other things that can go wrong such as electrical, plumbing, heating and air conditioning repairs.

Most newly built homes come with a one-year warranty that covers defects in quality and coverage of all the key appliances. Additionally, you usually receive a ten-year structural warranty, giving you peace of mind that you have a quality roof, and should something go wrong, fixing any major structural issue is covered. Once you are outside of your 1-2 year initial home builder warranty, a homeowner can purchase a home warranty program from a third party company to cover those potential expensive repairs related to appliances and air conditioning/heating equipment and have total peace of mind.

Choosing a new home allows buyers to be part of the home building process. Most new home builders enable customers to choose:

  1. Floor Plan Specifications
  2. Interior room colours
  3. Wood trim and crown moulding
  4. Flooring, including tile, carpet and wood/laminate
  5. Roof tile or shingles
  6. Exterior paint colours
  7. Other custom options
  8. Kitchen Cabinetry

Owning a home has many benefits over staying in rental houses. In rental homes, you have no power to change anything unless with the landlord’s permission. Even if you get authorization to change, you will incur all the cost, and you will not see any long-term value of your investment since you might move anytime. You can forget about any other changes you might want to make to the home that you can accomplish if you purchase from a new home builder.

Now is the time to start investing in your new home and stop paying rent. Start living your dream by contacting regent new home builders. They offer affordable services and allows you to customise any design to suit your needs. With them, you are sure of quality building services since they have many years of experience. Contact them and own that home you have always wanted.

Choosing a Reputable Financial Planner Adelaide

Having a good and stable life is something everybody dreams of. Apparently, as we age, we realise that for us to achieve that kind of life, we should work hard and manage all of our earnings. However, the task of managing all of your finances can be stressful especially if you are someone who does not know how to do it. This is mainly the reason is why having a financial planner Adelaide who can help you secure all of your finances is beneficial.

The work of a financial planner is to advise people regarding monetary concerns. If you wish to make some investments and save money, this is the professional that you should talk to. He can help you make decisions regarding investments, help you manage all of your finances and of course, provide you with wealth-related advice. He may influence some of the most important decisions that you will be making in your business, career, life and your future. So how can you find a reputable planner for you?

Since you are going to have him deal with your money, trust is a very important factor. You should find someone who is trustworthy. Some people might pretend that they are financial planners, so you have to be careful. Always make sure that you choose someone who can be trusted. Look for those with educational backgrounds and designations that are recognised. Someone who is experienced will also be a plus; however, you need to check if whatever documents and credentials that they are presenting to you are genuine. Asking for referrals from some of your relatives or your trusted friends can be much safer rather than just picking someone out randomly.

 

Keep in mind the kind of planner that will suit you and your needs. There are different types of planners, and each type has their area of expertise. Not all of them cater to the same field or need. You should be aware of what your need is so that you will know which type you will need to look for.

If you are concerned with compensation, you should be aware that a financial planner Adelaide can be paid in three methods. These three methods are assets, commission or flat fees. Asset-based fees are based on a profit percentage, commission fees are based on investments, and flat fees are based per hour or visit. You should do some research before you seal the deal with anyone so that you will not regret anything in the future.

 

Installing an Air Conditioning Unit Adelaide

Are you tired of the summer heat? Are you having a difficult time sleeping because your home is too hot? Is your electric bill too high because of all of the fans that are running? If so, then it might be time for you to consider installing a new air conditioning unit. There are a few things that you can do to make sure that the installation of your new unit goes smoothly. The first thing that you should do is to prepare your home for your new unit. Then, you should do everything you can to make sure that the instalment day goes smoothly. Finally, you should sit back and enjoy your new, comfortable home.

Prepare your home

The first thing that you can do to make your air conditioning installation Adelaide go as smoothly as possible is to prepare your home for the new unit. The best way to do this is to make sure that you check your home’s insulation. It is important that your home is well insulated, as this will help your new A/C unit to run as efficiently as possible. The last thing that you want to do is to spend money on a new unit only to have the cold air leave your home due to lack of insulation.

Installation day

After you have prepared your home for the new air conditioning unit, you should begin preparing for the instalment day. If you are installing the unit yourself, then you should make sure that you have read all of the instructions and turned off the relevant utilities. You should also take care to ensure that you have all of the tools necessary. If on the other hand, you have a professional install the unit, then you should make sure that you have cleared the area around the site so that the technicians will be able to have adequate access to everything that they need.

Enjoying your new unit

Finally, after you have prepared your home and installed your new unit, all that is left to do is to sit back and enjoy your new air conditioning system. Air conditioning can make a hot, steamy summer much easier to tolerate. When installing a new unit, it is important that you prepare your home for the new system and stay well prepared for the air conditioning installation Adelaide. This will help you to be able to enjoy your new unit and the comfort that it brings.