Make 2022 a year of financial success

Make 2022 a year of financial success

With the new year upon us, now is the perfect time to make improvements and manage your finances better. Here are five things you can do to set yourself up for financial success in the new year. For more – Make 2022 a year of financial success

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Tax and the Normalisation of Cryptocurrency

Tax and the Normalisation of Cryptocurrency

In early November, the Commonwealth Bank announced that it is now Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app. You know when the banks come on board, cryptocurrency has become normal.

But cryptocurrency is only one part of the blockchain universe. Non-fungible tokens or NFTs (fungible means interchangeable) are one-of-a-kind digital assets which are part of the Ethereum blockchain. An example is the CryptoKitties game that allows players to purchase, collect, breed, and sell unique virtual cats – and, before you laugh, the game transacted over $1 million in virtual cats in its first few days of launching.

NFTs are also rapidly rising in popularity in the art world because ownership of the asset is on the blockchain and in some cases, the artist can take a percentage of every transaction of that artwork – so, no more starving artists because they can generate an income from the asset over time not just on the first sale. A stellar example is the sale of an NFT artwork by the digital artist Beeple, which was sold at auction by Christies in March 2021 for $69 million (USD).

Let’s look at what the Australian Taxation Office has to say about some of the commonly asked questions about the implications of investing in blockchain.

For more, Tax and the Normalisation of Cryptocurrency

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Australians returning home – How to prepare before your arrival

Australians returning home – How to prepare before your arrival

As Australia meets its 80 percent double vaccination target, international travel is back on the horizon. Take a closer look at what this means for returning Australians.

An estimated 38,000 Australians will come back to their homeland, but returning individuals must take care not to enter the country without careful financial planning since failure to do so could lead to tax implications.

For more, Australians returning home – How to prepare before your arrival

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Life Stage Financial Planning

Life Stage Financial Planning

At PrimeAdvisory, we believe that financial planning isn’t just about maximizing income; it’s about making the right choices so you can achieve your goals, starting today!

Our financial plan can help you focus on the areas of your finances and lifestyle that are most important to you in your life stage.

To learn more, click here – Life Stage Financial Planning

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Updated Lockdown Support for Businesses & Individuals

Updated Lockdown Support for Businesses & Individuals

The Federal and NSW Governments yesterday announced a series of new measures to support individuals and businesses impacted by the lockdowns. 

New funding measures include:

  • COVID-19 Disaster Payment increased to $450 (between 8 and 20 hours lost) and $750 per week (20 hours or more lost) from 2 August 2021
  • NSW JobSaver extended to businesses with a turnover up to $250m from $50m and increased to up to $100,000 per week (from 18 July 2021)

Read the full update below:

Updated Lockdown Support for Business – 29 July 2021.pdf1

Updated Lockdown Support for Individuals – 29 July 2021.pdf1

How can we help?

If you have any questions or would like further assistance regarding this update, please feel free to call your advisor at PrimeAdvisory on 02 9415 1511.

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