If you're looking to climb the ladder to wealth and financial freedom there are plenty of ways you can bring this dream to life. This article explains how real estate can be a valuable investment to help you get ahead of the game financially. Whether you're thinking of buying as an owner occupier or purchasing an investment property, there are ways you can make your real estate benefit you financially either way! Here's the catch: When buying a property there are no guarantees that it's going to make you rich. Plenty of people experience financial stress and never reach the pinnacle of wealth they've hoped for. Now for the million dollar question: How does one use property to become a millio
From the 1st July 2017, international digital goods and services supplied to Australia may need to register for GST. The non-residents doing business in Australia who sell imported services and digital products to Australian consumers will be applicable. When a foreign supplier of digital services has been established as an operating business in Australia for electronic distribution service, the operator will need to be registered for GST purposes. An example of this is iiNet/Netflix for the Netflix global company. Other examples include the larger businesses such as Apple, Google and Amazon. Due to their size, GST collected would need to be reported on a monthly basis. However, the option t
What Is Equity Home equity is the portion of your property that you truly own. It's the difference between your property's market value and the balance of your mortgage. Your equity increases over time when payments are made against the mortgage balance and/or if the property value increases. In other words, it is calculated by subtracting the existing loan amount from the property's market value. Equity can be very helpful when it comes to purchasing your next investment property, it's definitely worth looking into. How Does It Work? Ok, so it may sound complicated, but it's not too difficult when you understand how it works. We'll break it down with an example; Let's say you already have a
You may have heard the terms credit score or credit report, but what do they actually mean and how will they affect you? It's important to understand your credit score, it can help you when applying for a home loan or credit card. What's a credit score? A credit score is a numerical assessment which shows your credit trustworthiness. Essentially, it is a sum of all the information on your credit report, which includes your credit history, total amount owing, payment history, types of credit, and current/new credit. The higher the score, the more credit-worthy you are. A lower score means you have a bad credit rating, meaning you are less credit-worthy. A scoring model with the range 300-850
What does a bookkeeper or BAS agent do? How can they assist you in meeting your obligations as a business owner? What should you expect in terms of qualifications and experience? Why You Need a Bookkeeper To keep all of the records up to date so you can get accurate financial reports, and to assist with legal record keeping requirements. To help in keeping your end of year accounting bills down; by accurate processing throughout the year, there are fewer adjustments required by the tax agent. To avoid late penalties by making sure the GST, PAYG tax and superannuation compliance obligations are attended to. Free up your time so you can work on your business rather than trying to do tasks bett
