Ken is director of Metropole Wealth Advisory and gives strategic expert advice to property investors, professionals and business owners. He is in a unique position to blend his skills of accounting, wealth advisory, property investing, financial planning and small business. View his articles
The interest rate hiking cycle might have peaked, but it’ll be some time until rates drop, borrowing capacity increases and Australia’s property market reopens to more first-home buyers. So it’s no wonder that housing affordability (or unaffordability) is such a popular topic at the moment. There’s no denying it has become a lot harder to…
Australians tucked an additional $6.53 billion away in the bank in May as household deposits continued to hit record highs. The total amount saved in the bank from households is now $1.481 trillion – the 11th consecutive record high, according to the latest APRA monthly banking statistics. This means household deposits have risen by over…
Recently the Australian Taxation Office sent around a bulletin busting 5 common tax myths. Did you believe any of them? Myth 1: Investors can claim travel expenses to visit their residential investment property. Since 1 July 2017, investors can’t claim travel expenses to check on their residential investment property. This includes long and short-term rentals,…
Household wealth rose for a sixth straight quarter by 2.7 per cent ($431 billion) in the March quarter 2024, according to recently released figures by the Australian Bureau of Statistics (ABS). Total household wealth was $16.2 trillion in the March quarter, which was 10.2 per cent ($1.5 trillion) higher than a year ago. Residential land…
Today I’d like to offer a list of simple strategies that can help Australians improve their financial fitness. If done properly, this includes assessing all aspects of personal finances, including strategies to boost retirement investments, such as including property and super, savings, a review of insurance policies, staying ahead of tax obligations and making an…
As the end of the financial year approaches, there are a few changes on the horizon for Australians. These changes along with some data will impact people and how they are struggling, according to Finder. Key changes Stage 3 tax cuts The Australian government has announced changes to the proposed stage 3 cuts, planned to…
No one ever sets up a business with the intention to fail. Rather, entrepreneurial types are motivated by a multitude of factors such as personal drive and ambition or a desire to work for themselves or to create a particular product or service. Sometimes it’s as simple as wanting to be in charge of our…
The Australian Taxation Office (ATO) is putting rental property owners on notice this tax season. ATO Assistant Commissioner Rob Thomson has highlighted that many rental property owners are making mistakes on their tax returns, despite 86% using a registered tax agent. One major issue is misunderstanding what expenses can be claimed and when particularly distinguishing…
Impulse purchases are costing people thousands of dollars every year, according to new research by Finder. The survey of 1,071 respondents found the average Australian splurges $44 a week on impulse purchases – $915 million nationwide every 7 days. That’s the equivalent of $2,278 a year – $47.5 billion nationwide – spent on everything from chocolate…
As tax time is approaching it’s time to get all your financial ducks in a row. And this year, it’s more important than ever for property investors to get it right. The Australian Taxation Office (ATO) has announced it will focus on three areas where people make the most mistakes on their tax return, and…
