What to Consider When Saving for Your House DepositBuying a house is the biggest purchase many of us will ever make and so it carries a significant financial responsibility. The first part of… Australian Employers Under Fire to Stop Withholding Super PaymentsFollowing the end of 2019’s final quarter, the ATO will send emails to 4,000 Australian employers reminding them of their superannuation obligations. According to Industry… ATO Compliance – Tax Tips for BusinessesThe Australian Tax Office keeps a watchful eye on all business activities. Businesses of any size are under obligation to ensure that they are compliant… Types of Aged Care to ConsiderAs we age, we’re often presented with choices that require significant lifestyle changes. Relocation, declining health or even personal preferences can prompt a lifestyle change… Motivating Children to Take More Responsibility with MoneyA financial matter that often fails to receive the attention it needs is the responsibility of the younger generations taking on the family’s money. While… Are you aware of foreign landowners’ duties?Foreign persons who invest in property in Australia are subject to a range of obligations. It’s important to know what they are and fully understand… Audit quality: how it affects your businessThe Senate has voted to establish an inquiry into the regulation of auditing, the process of inspecting a business’s accounts to be sure that everything… What you need to know about voluntary assisted dying laws in VictoriaOn the 19th of June 2019, the Voluntary Assisted Dying Act (2017) (“the Act”) came into effect, making Victoria the first state in Australia to… The benefit of implementing a positive workplace cultureAs employers, we strive to provide the best for our employees’ job satisfaction – this is often in part achieved through workplace initiatives such as… What you need to consider when guaranteeing your child’s loanIn a climate where today’s younger generations are struggling to buy property, leveraging security from parents through a guarantee has become a common way to… Don’t be caught making any ridiculous tax claimsWhile most people are in the process of lodging their tax returns during this time of the year, the Australian Taxation Office (ATO) is also… Why you may not get away with any creative accounting this tax yearIt is not uncommon for tax payers to take advantage of our tax system and reduce the taxable income as much as legally possible. However,… Australia Introduced a new Super Law – Are you up to date?Superannuation always seems to be changing. The Treasury Law Amendment Bill 2019, a new super law, was passed last week. This will make changes to… Are you on the best rate? Reserve Bank cuts interest rates to 0.75%, It’s time to talk.The Reserve Bank of Australia has cut the official cash rate by 0.25% to a record low of 0.75%, in an effort to increase employment… Private Wealth Half Yearly Market Update – August 2019 The 2019 financial year was a tale of two halves, with the December 2018 half recording sharp losses and the June 2019 half rebounding… Why you need to make the tough decisions about Aged Care nowPlanning aged care for your loved ones can be quite confrontational and emotionally draining but it cannot be ignored. Lack of planning can leave you… Could Bob Hawke have avoided his daughter contesting his Will?Two months after the death of former Prime Minister Bob Hawke, there are now reports that his daughter may be preparing to take legal action… Acquiring a loan for your next property purchase just got a little easierWhen it comes to gaining approval for a mortgage, there is a lot of red tape. However, due to the current economic environment of low… What will the interest rate cuts mean for you?In the first week of July, the Reserve Bank of Australia cut the cash rate by 25 basis points to a historically low of 1.00… 2019 Year-End Tax Planning & Urgent DeadlinesMorrows takes tax planning before year-end seriously. Many of our clients are provided with detailed analysis, tax advice/strategy and tax calendars. All clients have been… GST withholding legislation gives purchasers headachesThe GST withholding regime came into effect on 1 July 2018 and requires purchasers of new residential premises and potential residential land to withhold and… Are you ready for EOFY?The federal election has come and gone, and this has provided us with a clear picture as to what our tax laws will look like… Are you now eligible for this instant asset write-off?The recent Budget proposed some significant changes for small businesses. One change that occurred the instant the budget was handed down was an increase in… How do you motivate the modern employee?In the modern workplace, motivating employees takes more than just words of encouragement. It now entails facilitating difficult conversations between staff members and fostering happiness… 2019 Federal Election Policy Comparison: What Will it Mean for You?The lead up to the 2019 Federal Election has brought a number of proposed policies from each of the major parties. In an effort to… Are you engaging in unqualified legal practice?Accountants are often called upon by their clients to give tax advice. However, you could be advising beyond your expertise, which can put you and… Are you aware of the changes to the Oaths and Affirmations Act (2018)?The new Oaths and Affirmations Act (2018) came into effect on 1 March 2019. This new legislation applies to those who take oaths and affirmations,… Understanding guarantees – What do your clients need to be wary of?A guarantee is commonly included in a loan, a lease or commercial contract. Understanding the nuances of the agreement can be complicated, however these cannot… Morrows 2019 Budget ReportTo assist our clients, the Morrows One Team aims to identify some key items that will be of significant interest as they will have an… Is your business ready for these payroll and reporting changes?Is your business ready for the biggest change to business processes, processing payroll and reporting to the ATO since GST was introduced? As of 1… Private Wealth Half Yearly Market Update – March 2019The global economy entered 2018 in a buoyant mood with sentiment indicators at 30-year highs but in December the US markets entered bear territory. So,… Avoid the traps of Binding Death Benefit NominationsSelf-managed Superannuation Funds (SMSFs) can be an Estate Planning minefield at the best of times. One particular area of concern is in the invalid or… When Signing and Dating Documents Leads to Unintended ConsequencesAn Adelaide financial adviser has been permanently banned from providing financial services following findings that he had engaged in “dishonest conduct” by ASIC. Some of… Important Warning: Your PPSR Security may have lapsed leaving you unsecured.The Personal Property Securities Register came into existence as the single, national online database of security interests in personal property in Australia on the 30th… Beware of fraudster conveyancers when buying or selling propertyLast year we saw a rise in the property market, but also a rise in cyber scammers who intercepted emails containing bank account details and… Morrows advisors realise Alzheimer’s is the curse of estate planningLaura Harding from Morrows Legal’s estate planning team and Renato Manias from our aged care group are currently trying to rescue Larry*, a long term… A New Year checklist to help you prepare for 2019The New Year is a great time of the year to set goals, make new lifestyle changes and plan for the future – for many… The Commonly Overlooked Benefits of Estate PlanningEstate planning is an important process which involves strategically planning the distribution of one’s assets in the event of passing or an incident prohibiting one… The 7 steps to entering aged careAustralia has a robust aged care system designed to support the elderly with quality care when they need it the most. However, engaging professionals for… 3 Critical Estate Planning steps every person should takeWhat is estate planning? Estate planning isn’t the most exciting of tasks – but it is essential. Developing a strategy on how to best manage… Private Wealth Half Yearly Market Update- August 2018Chris Molloy, CIO of Morrows Private Wealth highlights our outlook for markets and what this means for investors and their portfolio strategy. Current valuations suggest… How Entrepreneurs Can Take Money Off The TableThe life of an entrepreneur is a busy, exciting and often challenging one. However, being a successful entrepreneur requires a great deal of financial insight,… The Ultimate Family Office SetupWhen changes to your family’s financial situation arise, this can have long-standing effects on the situation of your family’s wealth. These financial change can range… Questions You Should Ask a Financial PlannerChoosing which financial advisor can be a daunting task when you are not sure where to start, or which questions you should ask. Having some… 5 rules of Aged Care PlanningTaking care to ensure that you are prepared for now and for the future is important. When preparing for residential aged care, Morrows understands that… ATO – Taking investigations to the next levelATO – Investigations turn to social media The ATO are currently undertaking new and inventive ways to ensure you are being 100% honest when lodging… I don’t need a Power of Attorney, I have joint bank accountsThis is one common misconception regarding powers of attorney described by clients of Morrows Legal which we are required to dispel. They are totally different… The ATO Crack Down on Rental Properties and Holiday HomesIf you are one of the many Australian’s who own rental properties or rent out holiday homes for a few weeks a year, then make… The Journey into Aged Care is a Challenging and Emotional TimeMorrows’ Golden Rules for your Golden Years Superannuation – What’s Your Plan?Estate planning is often considered to be “just a Will”, but it actually comprises a lot more than just that one document. One aspect of…
