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LEASING PERSONAL LOANS PLANT & EQUIPMENT HOME LOANS COMMERCIAL INSURANCE INVESTMENTS CASHFLOW www.monopolyfinance.com.au You know you’re an adult when it’s the prospect of a new financial year turning over – rather than Christmas Day – that gives you butterflies in your stomach. A clean slate, a new beginning: that’s right, it’s time to make your New Financial Year Resolutions! Here are some key areas that you might consider planning around to enjoy a financial year rich with savings, paying down and consolidating debts and even sneaking in a cheeky investment property purchase or well-earned holiday! Down That Debt Have multiple credit cards hanging like storm clouds over your savings plans? Work with your broker to see if consolidation of debt is an option – if you have a mortgage, it can often make sense to pop your credit card debt onto your home loan. You may also consider transferring your existing debt onto a credit card with a grace period of ‘0% interest’ – again, speak with your broker to find an institution and credit card product that suits your needs. Get Up To Date With Tax It’s hard to make decisions about your financial future if you are uncertain of your current financial position and tax obligations. Get your 14-15 tax return lodged as soon as possible – you might even find you have a tidy little tax return to enjoy – and deal with any prior year’s unlodged returns as a priority. Consider the services of an accountant if you’re time-poor or would like a helping hand. Require a referral? Just ask. Asset Protection and Insurance Could you continue to make repayments on your loans and financial obligations if you were unable to work? If the answer is no, it’s time to learn about and obtain appropriate income insurance. While you’re there, make sure that your assets (think house, investment properties, valuables) are insured to their current market value – and given the growth of the property market, you may need to have your property’s worth re-evaluated. Again, if you require the services of a valuer or estate agent do ask. Other new financial year’s resolutions worth tabling for discussion with your broker are savings plans, retirement plans, SMSF education and more … so make an appointment and begin financial year 2015-16 on top! New Financial Year resolutions July / August 2015
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New Financial Year resolutions...Other new financial year’s resolutions worth tabling for discussion with your broker are savings plans, retirement plans, SMSF education and more

Oct 07, 2020

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Page 1: New Financial Year resolutions...Other new financial year’s resolutions worth tabling for discussion with your broker are savings plans, retirement plans, SMSF education and more

LEASING PERSONALLOANS

PLANT &EQUIPMENTHOME LOANS COMMERCIAL INSURANCE INVESTMENTS CASHFLOW

www.monopolyfinance.com.au

You know you’re an adult when it’s theprospect of a new financial year turningover – rather than Christmas Day – thatgives you butterflies in your stomach. Aclean slate, a new beginning: that’s right,it’s time to make your New Financial YearResolutions!

Here are some key areas that you mightconsider planning around to enjoy afinancial year rich with savings, payingdown and consolidating debts and evensneaking in a cheeky investment propertypurchase or well-earned holiday!

Down That DebtHave multiple credit cards hanging likestorm clouds over your savings plans?Work with your broker to see ifconsolidation of debt is an option – ifyou have a mortgage, it can often makesense to pop your credit card debt ontoyour home loan. You may also considertransferring your existing debt onto acredit card with a grace period of ‘0%interest’ – again, speak with your brokerto find an institution and credit cardproduct that suits your needs.

Get Up To Date With TaxIt’s hard to make decisions about yourfinancial future if you are uncertain ofyour current financial position and tax

obligations. Get your 14-15 tax returnlodged as soon as possible – you mighteven find you have a tidy little tax returnto enjoy – and deal with any prior year’sunlodged returns as a priority. Considerthe services of an accountant if you’retime-poor or would like ahelping hand. Require areferral? Just ask.

Asset Protection and InsuranceCould you continue to makerepayments on your loansand financial obligations ifyou were unable to work? Ifthe answer is no, it’s time tolearn about and obtainappropriate incomeinsurance. While you’re there,make sure that your assets(think house, investmentproperties, valuables) areinsured to their currentmarket value – and given thegrowth of the propertymarket, you may need tohave your property’s worthre-evaluated. Again, if yourequire the services of avaluer or estate agent do ask. Other new financial year’sresolutions worth tabling for

discussion with your broker are savingsplans, retirement plans, SMSF educationand more … so make an appointmentand begin financial year 2015-16 on top!

New Financial Year resolutions

July / August 2015

Page 2: New Financial Year resolutions...Other new financial year’s resolutions worth tabling for discussion with your broker are savings plans, retirement plans, SMSF education and more

Important note: Readers should not rely solely on the content of this newsletter. All endeavours are made to ensure the content is current andaccurate however, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readersshould seek their own independent professional advice before making any decisions based on the information contained herein.

MonopolyFinance Pty LtdAustralian Credit Licence No: 387784

Wladek CostabirB.Sc., G.Dip. Mgmt, Dip. Fin

Suite 7a, 82 Keilor RdEssendon VIC 3040Mob: 0419 650 750Ph: 1300 763 630email: [email protected]: monopolyfinance.com.au

Some of our lenders include

LEASING

HOME LOANS

COMMERCIALFINANCE

PLANT &EQUIPMENT

Our business is built on referrals and we would welcome the opportunity to assist any of your family or friends, also with their finance.

PERSONALLOANS

Boonforsmallbiz!Small businesses are the verybackbone of the Australianeconomy – did you know thatover 2 million small businesseswere registered as operating inthe last financial year? Morethan half of these are in NSWand VIC – but wherever a smallbusiness is located, it’s likelywhooping with joy at TreasurerJoe Hockey’s small businesstax break.

If you are legitimately carryingon a small business, you cannow benefit from an instant taxwrite-off on new assets worthup to $20,000.

The government are banking onsmall business spending bigand sparking a retail revival onassets to help them improvetheir enterprise.

Whilst some small businesseswill have invested prior to theend of the financial year justgone, remember that this is anongoing benefit which willcontinue to assist smalloperators (read: those makingless than $2 million per annum)build their businesses.

If it’s under $20,000 you’ll beable to claim an immediate taxdeduction rather thandepreciating it over the usefullife of an asset.

Thinking of investing in yourbusiness with new vehicles,plant or other essentials? Bookyour broker appointment today.

Is there aBroker inthe house?Critical homeloan healthchecks Cough. Splutter. Winter is a time when many of us end up atthe local friendly Doc’s for a health certificate and acheck-up. Even the healthiest of Aussies take time to investin an annual health check to nip any problems in the budbefore they become bigger concerns.

While you’re at it, circle a date on your calendar for anappointment with your broker: your financial health alsorequires annual maintenance!

Your once-healthy home loan may be looking a little underthe weather, no longer suiting your financial position, thewider market’s norms or indeed your goals for financial year2015-16.

A home loan health check will typically look at yourall-important interest rate: does it match the ultra-lowmortgage options now on offer?

There may be a better mortgage product available for youwhich reflects the RBA’s latest rate cuts. A an appraising eyewill also be taken to your personal circumstances: if yourfamily has grown, the kids have moved out or your incomepattern has changed, your once bushy-tailed loan might belooking worse for wear. The only way to know if your homeloan is healthy?

Book your check-up now.

July / August 2015