Empower Blog Tax and Personal Accounting

2024: The Golden Year of Tax Planning

Get ready to dive into the ultimate tax strategies for the year 2024. This year, tax deductions are your golden ticket to hefty savings! Join Ben and Julia as they walk you through the ins and outs of tax planning, especially for those earning between $45,000 and $135,000. From smart record-keeping tips for work expenses, home offices, to renta...

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Unpacking 2023: Household Finances, Inflation, and Property Markets

Hello, Ben Kingsley here, and wow, it's been a mega year again. A very, very fast year that has been the year 2023. And as I reflect on that year, the real big theme to me has been the economy and also very much the cost of living. Everything's costing more and I wanted to bring that theme through in my Christmas message in terms of looking at...

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3 Crucial Tips Before Selling Your Property!

Are the increasing interest rates making you ponder selling your property? You're not alone! BUT Hold onto Your Property!Before you make that significant decision, take a look at this brief video to ensure you've thoroughly thought through these 3 essential must-dos! Should you be in search of experienced and qualified advisors, we're here t...

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Why Now is NOT The Time to Sell Your Property

We've been catching wind of investors offloading their properties lately. With the surge in interest rates, it's entirely understandable. However, are there alternative avenues for you? Watch this short video to discover the happenings during past crises and why holding on to your property might be a wise move to steer clear of potential f...

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Maximise Your Returns: Mastering End-of-Year Tax Planning, HECS Hacks, Super Strategies, and More

Talking Property Tax with Julia Hartman: Episode 5 In our final episode before the end of the financial year, we'll be exploring the latest tax updates from across Australia, including: Important Changes to HECS/HELP Debt - Changes you MUST ACT on quickly! Each year your HECS debt and other student loans are indexed for inflation on the...

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CGT Now Affects Most of Your Assets, Even Gifting Jewellery…

This blog was originally posted on Ban Tacs and written by Julia Hartman, founder of the Ban Tacs group and Chief Technical Tax Advisor for Empower Wealth Tax. This report is also referenced and expanded in our series, Talking Property Tax with Julia Hartman in Episode 4. Watch it here >> Capital Gains Tax (CGT) applying t...

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Warning: Start a Diary of Your Home Office Use Now!

This blog was originally posted on Ban Tacs and written by Julia Hartman, founder of the Ban Tacs group and Chief Technical Tax Advisor for Empower Wealth Tax. This report is also referenced and expanded in our series, Talking Property Tax with Julia Hartman in Episode 4. Watch it here >> Despite objections from the Tax Ag...

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Mapping Out Your Property to Make the Most of CGT Concessions

This blog was originally posted on Ban Tacs and written by Julia Hartman, founder of the Ban Tacs group and Chief Technical Tax Advisor for Empower Wealth Tax. This report is also referenced and expanded in our series, Talking Property Tax with Julia Hartman in Episode 4. Watch it here >> If your home is on more than 2 hec...

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Navigating Tax Changes in 2023: Updates to Remote Work Claims, Renting And Victoria’s New Tax Grab 

Talking Property Tax with Julia Hartman: Episode 4 In our first episode for 2023, we'll be exploring the latest tax updates from across Australia, including:  Changes to working from home Expense claims: What expenses can you now claim on your 2023 tax returns and how to navigate these changes while maximising your tax deductions. ...

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Home Deposits Made Simple – Two Years at $200 Per Week and No LMI

This blog was originally posted on Ban Tacs and written by Julia Hartman, founder of the Ban Tacs group and Chief Technical Tax Advisor for Empower Wealth Tax. This report is also referenced and expanded on in our podcast, The Property Couch in Episode 417 | Home Deposits Made Simple – Chat with Julia, Michael & James! Give it a listen ...

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How To Protect Your Personal Data

An Empower Wealth Data Security Update There are more resources, tools, and devices connected to the Internet than ever before. While there are great benefits to accessing digital information quickly and easily via the internet, this also means an increased risk of unauthorised access to personal data. At Empower Wealth, we take data securit...

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Highlights from the FY22 Reporting Season: Will Australia Avoid A Recession?

Note: This information is provided by Ausbil Investment Management Limited, an Australian-based investment manager.  Key Observations of Reporting Season Context FY22 reporting season comes after a period of extraordinary events. The invasion of Ukraine by Russia towards the end of the HY22 reporting season in February had a profound eff...

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Your Ultimate Guide To Reducing Tax on Vehicles, Private Insurance & Land

Talking Property Tax with Julia Hartman: Episode 3 IMPORTANT NOTE: This recording was filmed and produced before Queensland's Land Tax was scrapped. With a number of policy changes on the cards, in our third episode of “Talking Property Tax with Julia Hartman,” Ben and Julia cover... Salary Sacrificing For Cars: How do Salary Sac...

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