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A MESSAGE FROM OUR DIRECTORS

Welcome to the May 2019 issue of the Bongiorno newsletter.

We give you another update on Single Touch Payroll and suggest a reporting software that will make your life easier. We also announce the official launch of our new Managed Discretionary Accounts.

With the Federal election looming, we compare key Labor and Liberal tax/superannuation policies, discuss why wealth is not the same as having a high income, and outline the benefits of choosing a Principal & Interest loan to pay off your mortgage as soon as possible.

As usual, you’ll find important dates at the very end of this newsletter.

 

Steven Wilkie

Director

SINGLE TOUCH PAYROLL

What is Single Touch Payroll (STP)?

Single Touch Payroll (STP) is a government initiative to streamline business reporting obligations. When an employer pays their employees under STP, the information will be sent directly to the ATO at the time of the payroll.

Read full article >>

INTRODUCING OUR NEW MANAGED DISCRETIONARY ACCOUNT SERVICE

What is a Managed Discretionary Account (MDA)?

We have partnered with a team of first-class investment specialists to bring you our new Managed Discretionary Account (MDA) service.

Read full article >>

COMPARING KEY LIBERAL AND LABOR TAX/SUPER POLICIES AS AT 28/2/2019

With a Federal election just around the corner, it’s time to look at the two major parties’ key tax/super policies. Please be aware the details around some of the proposed changes are somewhat limited, however, the following outlines the announcements to date.

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JUST BECAUSE YOU EARN $1M A YEAR DOESN’T MAKE YOU A MILLIONAIRE!

After studying the lifestyles of 600 American millionaires, Sarah Stanley-Fallaw, author of The Next Millionaire Next Door: Enduring Strategies for Building Wealth, says there’s one false belief that just won’t die; i.e. that wealth is the same as income. Why is this misconception a problem?

Read full article >>

LOANS: THE ADVANTAGES OF PAYING PRINCIPAL AND INTEREST

When it comes to paying your mortgage, deciding to go with interest-only repayments over Principal & Interest (P&I) can depend largely on your personal financial position.

Read full article >>

INSURANCE AND THE ROYAL COMMISSION

The complaints raised in the Financial Services Royal Commission with regard to some insurers clearly show that expert, reliable advice from people who are on your side is critically important.

Our focus has always, and will always be, on finding you the best, most comprehensive policy that covers you when you need it most. While price is important, it’s not the only factor to consider – being confident that you will get paid is the most critical consideration.

If you need help navigating your insurance requirements, please don’t hesitate to contact your Bongiorno adviser on (02) 9326 2788.

Key Dates

15/5/19:

All tax returns for 2017/18 due for lodgement.

25/5/19 – March 2019:

BAS due if Bongiorno does your BAS for you.

30/6/19:

Ensure all super contributions made.