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When a funeral teaches you things you wish you knew years earlier

When a funeral teaches you things you wish you knew years earlier

by Christian Borkowski

Today I paid my last respects to a dear old friend of mine.

He wasn’t someone I grew up with at school, or a classmate from my university days. He was a client who became a friend in the 25 years I helped him with tax and accounting matters for his GP surgery.

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Turn your New Year’s resolutions into SMART business goals

Turn your New Year’s resolutions into SMART business goals

It’s that time of year again.

Like most people, you reflected on how 2016 panned out and what you’d like to change in 2017. And now you’ve made a whole bunch of New Year’s resolutions to put those changes into effect.

Unfortunately, there’s a good chance you won’t follow through on any of them.

Why not? Because you haven’t turned those resolutions into goals.

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Economic Snapshot – Annual 2016 & Beyond

Economic Snapshot – Annual 2016 & Beyond

This economic snapshot  covers 2016 with some perspective on how markets performed and why, with an outlook for the year ahead.

In summary

2016 was a dramatic year for the world’s financial markets. The year started with collapsing oil prices, fears of recession and deflation, equity markets falling sharply and investors favouring bonds and what might be termed “expensive defensives”.

By the end of the year, we had rising oil prices, renewed optimism about US growth and inflation, cyclical equities rallying, bonds selling off and defensives falling out of favour. In between we had on then off again OPEC deals, we had Brexit and we had the USA Trump victory which threw most fund managers. In summary despite all the noise and surprise political outcomes, we had a good year for diversified portfolios with positive returns recorded by a number of asset classes in 2016. This end result rewarded patient investors and masked the considerable within-year volatility.

2017 looks like being another year of volatility (the new normal) although somewhat surprisingly, forward looking expectations for asset classes have more upside room than at the beginning of 2016. This is an encouraging scenario built on economic rationale not geo political activities and market sentiment which, of course has a history of overturning expected outcomes in the short term. Snapshot comments cautiously on the outlook in the second half of this update given the interest of many readers for asset class outlooks.

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What’s your aging plan? 7 questions to ask yourself about the invisible signs of aging

What’s your aging plan? 7 questions to ask yourself about the invisible signs of aging

by Michelle Durham

Blessed with olive skin, I’ve never been overly concerned about wrinkles (or ‘the visible signs of aging’ as they like to call them in commercials).

But as I approach middle age I’m starting to realise that aging is less about the visible signs, and more about planning for unseen—and unforeseen—circumstances. The invisible signs of aging.

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The realities of the ‘contractor vs employee’ debate: Where do you stand?

The realities of the ‘contractor vs employee’ debate: Where do you stand?

If you ask a worker why they think of themselves as a contractor instead of an employee, you may hear answers such as “I have an ABN”, “I have a special skill” or “Not all my work is for the one guy”.

And what if you asked the business owner or employer why they’re classifying the new person on their team as a contractor rather than an employee? They may tell you “He pays his own superannuation”, “He wants to be a contractor” or even “We always use contractors”.

Now these people may well be acting in good faith rather than deliberately trying to ‘cheat’ the system, but the Australian Taxation Office (ATO) may consider these ‘contractors’ to be employees after all.

And it’s not just the ATO you need to worry about. There are also work cover and payroll tax requirements that you need to keep in mind.

To find out more about the WHY realities in the employee/contractor debate, contact PrimeAdvisory or download the checklist of WHYs you need to address.

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