Tax Tips for the 2014 Year

Many of you are business owners and investors. This article has been written to assist you with your year-end tax considerations, but I suggest that these may be only some of the points you need to consider – along with longer-term tax planning and retirement strategies. These all take time and p … [Read more...]

Financial Planners causing untold harm to investors

“Far too many times in this industry have we seen individuals with little to no actual training – both technically and practically – causing untold harm to investors and by extension to the planning industry,” former Liberal Leader John Hewson said in an interview with IFA. Words of Wisdom In a wor … [Read more...]

Employee or Contractor – The Importance of Getting It Right

A recent case – ACE Insurance Limited v Trifunovski (No 2) [2012] FCA 793 – illustrates the disastrous costs of getting it wrong. A number of insurance agents were paid as contractors for a number of years.  The courts held that an employment relationship existed and ordered that those “employees … [Read more...]

Commonwealth Financial Planning Compensation Investigation

Commonwealth Financial Planning (CFP), is to compensate clients who received inappropriate financial advice from one of their financial planners following an ASIC Investigation. CFP will appoint an independent expert to review the implementation of the client compensation program and the … [Read more...]

Average Weekly Earnings for Construction Workers in Personal Injury Claims

Based on approximately 33 years’ experience in the building industry – as a director of a building company, providing taxation and business advice to a number of building industry clients, and providing forensic services relating to the building industry – it is my opinion that the Australian Bureau … [Read more...]

Statement of No Advice

We have been amazed at the number of people who are being asked to sign a "Statement of No Advice" by their financial Advisors. Why would the advisors ask you to do that? They don't have to take responsibility for their advice.  If they don't want to take responsibility why would you trust … [Read more...]

Financial Advisers Duty of Care

Having lost money through the investments made by your financial adviser does not necessarily represent bad or negligent advice. However, the financial adviser does owe you a duty of care and he may have breached that duty of care if he failed to exercise reasonable care and skill in giving you … [Read more...]