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TOP 3 ISSUES BEHIND PLAYING FOOTY

August 8, 2016 by Edge Financial Planning
Footy

We Australians love footy. Whether it’s playing a game with your local team, going to the MCG or catching up on the stats on your phone. There’s no surprise, footy is part of our lifestyle.

We push ourselves at footy training, we give it all at our local games and with a little bit of luck, we get to score the winning goal for our teams. We give it all physically but are we doing enough to keep ourselves safe outside the oval? Most of us seem to have forgotten we have a life outside those four quarters.

Injury, the sneaky word that sends us packing and puts us off work for a few weeks or even months.

We all have a responsibility to something and someone. We have jobs to go to, bills to pay and sometimes other people depend on us like a parent, a wife or even a child. Giving it all at the footy, should NOT mean losing it all if things go wrong. None of us should be punished for doing what we love but we have to be smart about it. We have to make sure we and our love ones are protected, safe and don’t become liable when we get injured. Injury, the sneaky word that sends us packing and puts us off work for a few weeks or even months. The word that makes us work while injured, stoping us to recover faster. Or worse, stops us from making money and paying our bills.


At EDGE FP, we are sick and tired of hearing our local footy players are faced with the harsh reality of getting injured and not being able to work or pay their bills. If you are wondering what your situation is and how Income Protection can help you, call EDGE 03 9017-675 or follow this link. Read on to meet Michael Bremner, a senior footy player at Prahran Assumption Football Club. He shares his experience with EDGE and Income Protection.


We want to make sure footy players are aware of the risks outside the pitch, so we expose them today:

(1) Most Footy locals believe private Health Insurance is enough if they get injured.

It’s not! You need money for your recovery, monthly bills and other living expenses like your weekly groceries during the time you are off work. If you are unable to work, how would you pay? If you run out of sick leave, would you be forced to chip into your holidays?

(2) There are just too many cases of people going to work while injured (ie. working with a broken rib or thumb).

People don’t want to postpone their plans (ie. buying a house, saving for an upcoming trip, etc) but that is not the way to go about it. Income Protection is there to ensure you never have to postpone your plans, keeping you and your love ones always protected. 

(3) A lot of Australians don’t understand how Super works or how to get Income Protection through Super.

Super is mandatory. If you don’t know your Super fund you might be overpaying. Taking Income Protection through Super means you are protected without adding an extra monthly bill. If you prefer to pay outside of Super, you may be eligible to reduce your taxes, increasing your tax return.

We know and understand all of these issues because we see them all the time. We are financial planners during the day but after hours we are 100% footy lovers. Half of our staff play for their local footy clubs, our Principal coaches the younger league and we all live the AFL on the weekends. We know the risks and we are here to share them with you, but just like you would rise up to make the mark, you must step up and make sure you and your love ones are safe. Touch wood -because we are all at risk and if you play sports, your chances of getting injured just got worse!

Michael Bremner, a Melbourne carpenter and footy player at Prahran Assumption Football Club shares his experience with Income Protection and the benefits of being part of the EDGE family.

Prahran Assumption Football Club

Michael Bremner (left)

“So what happened was a football injury, I changed direction and my knee shifted on itself and I ruptured my ACL. In football terms it’s 12 months out of the game but it’s almost 3 to 6 months off your feet type of injury, walking around on crutches, hobbling. So, it made it really hard being in the construction industry with that injury. I was at home a lot with a lot of rehabilitation, trying to put strength back into the leg to get myself back to where I could function at work and play footy again. It was the income protection that really kicked in to continue living. All the phone bills, memberships at gym, all of my expenses were still there; but I wasn’t making an income because I was a subcontractor.

To me if you play football or you work in the construction industry like I do, take out income protection with Leigh Stafford, it will be the best thing you ever do. There would have been no chance of me purchasing my first house if I didn’t. I’d be set back 9 months probably a year from all the debt that I would’ve accumulated if it wasn’t for income protection.”

-Michael Bremner, footy player at Prahran FC and EDGE client


Just remember, Could you work after a knee reconstruction? Would you be able to pay your bills if you can’t work? 
If you play sports we want to hear from you. Contact EDGE at 03 9017-6757 or follow the link here and stop dragging your wallet through the mud!


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Important information and disclaimer

This publication has been prepared by Leigh Stafford, Penny Collicoat, Little Miss Stonnington Pty Ltd (trading as Edge FP) Authorised Representative(s) of Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee (“Licensee”), Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia Bank Limited group of companies (“NAB Group”). Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information. Information in this publication is accurate as at the date of writing (July 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document. Case studies in this publication are for illustration purposes only. The investment returns shown in any case studies in this publication are hypothetical examples only and  do not reflect the historical or future returns of any specific financial products. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent. If any financial products are referred to in this publication, you should consider the relevant Product Disclosure Statement or other disclosure material before making an investment decision in relation to that financial product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.

Tax Benefits of Charity Donations

July 14, 2016 by Edge Financial Planning
Charity

We all like to help those less fortunate than us, but did you know such donations could be considered a tax deduction? According to the ATO, all cash donations (of $2 or more) are completely tax deductible.

What does this mean for our generous givers? Most donations to charities can be claimed as a tax deduction in our tax return. A tax deduction reduces our taxable income and therefore the amount of tax we pay.

But first, the donation/gift needs to meet the following 4 conditions:

1. The gift must be made to an organisation that have a ‘deductible gift recipient’ status (DGRs).

2. A gift must be a voluntary transfer of money or property where you receive no material benefit or advantage

3. The gift must be money or property which includes financial assets such as shares

4. The gift must comply with any relevant gift conditions imposed on the DGR. Some DGRs are restricted by the income tax law, which imposes the types of deductable gifts they can receive.

For all claims, you will need to produce a receipt.

What donations you can’t claim:

– Raffle Tickets

– Items such as chocolates or pens

– The cost of attending fundraising dinners

– Membership fees

– Payments to school building funds

– Payments where you have an understanding with the recipient that the payments will be used to provide a benefit for you.

Who can you donate to?

For a full list of DGRs approved charities, jump on over to the ABN website and download an updated list.

The advice in this article is of general nature. For more information on how to claim a tax deduction or for further financial advice, contact our team of financial advisers today!


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Important information and disclaimer

This publication has been prepared by Leigh Stafford, Penny Collicoat, Little Miss Stonnington Pty Ltd (trading as Edge FP) Authorised Representative(s) of Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee (“Licensee”), Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia Bank Limited group of companies (“NAB Group”). Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information. Information in this publication is accurate as at the date of writing (July 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document. Case studies in this publication are for illustration purposes only. The investment returns shown in any case studies in this publication are hypothetical examples only and  do not reflect the historical or future returns of any specific financial products. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent. If any financial products are referred to in this publication, you should consider the relevant Product Disclosure Statement or other disclosure material before making an investment decision in relation to that financial product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.

Advantages of Refinancing your Mortgage

July 7, 2016 by Edge Financial Planning
Advantages of Refinancing your Mortgage

Refinancing your mortgage can seem like one huge hassle. Get some expert advice before you make a final decision.

Our team of Mortgage Brokers will help you make an informed decision and save yourself a whole lot of cashola. For a full list of reasons why refinancing your mortgage might just work for you, read on…

Take advantage of lower interest rates

Refinancing your mortgage may enable you to take advantage of lower interest rates. Not only will this decrease the size of your monthly repayment, this will also increase the rate at which you can build equity in your home.

Restructure your loan to pay off your mortgage faster

As interest rates fall, many of us find us with more funds available to make additional mortgage repayments however, this isn’t always allowed. Refinancing your loan can enable you to reduce the loan term and pay off your debt sooner.

Switch between Fixed Rates and Adjustable Rate Loans

As interest rates change, switching from a fixed rate home loan to a flexible rate loan (or vice versa) may serve you and your family better. Refinancing your loan may enable you to make the switch.

Unlock the equity in your home

Looking for some extra cash to fund home renovations or fund your child’s education? Perhaps you might like to unlock some of the equity available in your home? Our refinancing experts can help.

Consolidate your debts

By refinancing your home loan you can take advantage of the opportunity to consolidate your debts under the one loan. This might make it easier to manage your finances.

The advice in this article is of general nature. At Edge FP we have a team of very experienced mortgage brokers who can assist you with any loan or lending queries.
Contact us today!


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Important information and disclaimer

This publication has been prepared by Leigh Stafford, Penny Collicoat, Little Miss Stonnington Pty Ltd (trading as Edge FP) Authorised Representative(s) of Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee (“Licensee”), Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia Bank Limited group of companies (“NAB Group”). Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information. Information in this publication is accurate as at the date of writing (July 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document. Case studies in this publication are for illustration purposes only. The investment returns shown in any case studies in this publication are hypothetical examples only and  do not reflect the historical or future returns of any specific financial products. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent. If any financial products are referred to in this publication, you should consider the relevant Product Disclosure Statement or other disclosure material before making an investment decision in relation to that financial product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.

Boost your Credit Rating

June 30, 2016 by Edge Financial Planning
Credit rating

As the banks tighten the reigns on how much they are lending, now is a great time to work on boosting your credit rating!


Boost your credit rating by following our tips below!

 

Pay your bills on time

When you pay an overdue debt, the negative listing doesn’t disappear until after seven years have elapsed. Paying your bills on time and meeting your loan repayments is the simplest and most effective way to improve your rating.

 

Don’t be debtless!

In order to establish a history, you need to have a form of credit. Credit cards are easier to apply for than loans. Sign up for one with a small limit (to make small purchases and re-payments on time).

 

Moving House?

Get in touch with all your service providers (banks, utilities, internet service providers) to make sure your bills are redirected to your new address. If you don’t it can be seen as a ‘clear out’ and possible deliberate debt evasion.

 

Dispute Errors

According to the office of the Australian Information Commissioner (2013), 30% of Australian’s have errors on their file. Jump onto veda.com.au and check your score. If any information listed there is incorrect, contact the relevant provider and seek an amendment.

 

Consolidate

Improve your score by eliminating small balances on existing cards. These balances although they are small, can be polluting your credit report.

 

Keep your Oldest Account

The longer your lines of credit are open, the better the rating.

 

Know what you’re in for

If your card issuer forgot to mention that they increased your limit, request that this be removed to avoid any unmanageable debt.

 

Don’t be a credit junkie!

Too many credit applications can damage your rating. Do your research ahead of time and minimise the amount of applications you’re making.

 

Reduce your utilization rate

Aim to keep your credit used below 30% of your available credit. In doing so, you’re effectively boosting your credit history.

 

The advice in this article is of general nature. To solve specific issues or to put a personalised plan in motion, speak to us today!


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EDGE FINANCIAL PLANNING
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Important information and disclaimer

This publication has been prepared by Leigh Stafford, Penny Collicoat, Little Miss Stonnington Pty Ltd (trading as Edge FP) Authorised Representative(s) of Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee (“Licensee”), Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia Bank Limited group of companies (“NAB Group”). Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information. Information in this publication is accurate as at the date of writing (July 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document. Case studies in this publication are for illustration purposes only. The investment returns shown in any case studies in this publication are hypothetical examples only and  do not reflect the historical or future returns of any specific financial products. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent. If any financial products are referred to in this publication, you should consider the relevant Product Disclosure Statement or other disclosure material before making an investment decision in relation to that financial product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.

RED HILL Footy Club

June 14, 2016 by Edge Financial Planning
RED HILL FOOTY CLUB - SPONSORSHIP

Just like any other Australian, we don’t just watch the Footy, we live it.
As footy lovers and financial planners it is our duty to provide as much support as we can.

EDGE new sponsorship program is designed to support local footy clubs. The benefits include club donations, paid membership fees and financial education support. Our goal is to ensure injured players are not at financial risk. Most players don’t know who controls their super or how it works. Informed players make better life decisions.

We understand you

Footy is a lifestyle. We know the issues surrounding footy players because we are just as involved. Some of our staff members play at their local footy club and even Leigh Stafford, principal at Edge, couches a team at a Junior Football League shaping the players of tomorrow.

RED HILL FC

First of many


We are proud to announce Red Hill FC as our first sponsored club. Leigh Stafford and Jake Mold visited the premises and gave a short presentation on Income Protection. Many Red Hill FC players are now part of the EDGE WAY and enjoying all the benefits that come along with it (a few listed in this article).

 Risks & issues

We are driven to tackle some of the biggest issues Australians face today:

1
Many local players believe private Health Insurance is enough if they get injured.



2
Most players don’t understand how Super works or how much they are paying in fees.

 

3
Some players work while injured (ie. working with a broken rib or finger), 
because taking time off means getting into debt or postponing their plans.


We don’t just state the issues, we are here to provide the solution with our Edge Sponsorship Program.

As a sponsor

We are committed to:

1) Donate $500 to the club (*)

2) Pay for player membership fees (**)

3) Empower the club with three educational programs every year (***)

Reach out

If you believe your Footy Club could benefit from our sponsorship program, send an email to [email protected]

Join the EDGE Way and enjoy all the benefits we provide!

We believe in supporting the community because we are the community. Our sponsorship program reflects our vision to practice great corporate citizenship and lead by example.


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TERMS & CONDITIONS

*     All donations are made strictly to the selected club.

**   Membership fees are paid for the full year.

**   In case the player has already paid the membership, a reimbursement will be issued.

*** Time and date of the educational programs are subject to sudden change given the availability of financial planners.

***  All educational programs are made by appointment and two weeks notice must be given.

Edge Charities –

June 14, 2016 by Edge Financial Planning
EDGE Charities

“Wealth. Surety. Lifestyle. The Edge Way to do business”

The Edge Way is our business culture that reflects our unsettling desire for improvement. Our vision is driven by practicing great corporate citizenship, leading by example and empowering our stakeholders. Edge Charities is a new and bold initiative created to achieve that vision.

The program is designed to extend our support to the Australian charities our stakeholders find important. We strongly believe in giving back to the community because we are the community.

How does Edge Charities work?

We accept all Australian Charity nominations. Every month a new Australian Charity will be randomly selected and a percentage of our profits will be donated to that charity. All our clients, staff members and referrals are encourage to participate.

How to get involved?

All you need to do is fill up the EDGE Form with your details and a small description on why you chose the supporting charity. The form will help us keep track (so everyone has a turn) and to provide further support through our social media platforms.

How much is donated?

The amount is calculated as a percentage of the profits made on the previous month and usually ranges between $250 to $500 Australian Dollars.

Voice your support by nominating your Charity and boost the amount of help your Charity needs.

Do you have any more questions? We are more than happy to answer them! 

Please contact Gonzalo Silva at [email protected] with your enquiries.


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TERMS & CONDITIONS

+ All donations are made directly to the selected charity.

+ All donations are made in Australian Dollars.

+ All nominated charities must be based in Australia.

+ Only one charity will be selected every month.

+ Only clients, employees and referrals will be able to participate at this time.

Performance: Super fund’s Points to consider

June 8, 2016 by Edge Financial Planning
Super Performance

The performance of your super fund will help to determine how much you have to retire on.


No one can reliably predict which fund will perform the best however there are a few important things you should consider when judging a funds performance.


– Look at the funds performance over a MINIMUM of 5 years. Super is a lifetime investment and short-term figures are not very useful


– Look at the funds performance AFTER fees and tax. If you’re comparing funds before tax and fees, you are not getting a realistic representation of a funds performance.


– Compare like with like – It’s important to compare apples with apples. If you’re comparing the performance of a geared share fund against a fund heavily invested in cash and fixed interest, you aren’t going to get a clear comparison.


– Ask yourself whether or not the return broadly matches the target set out in the product disclosure statement? If not, it might be time to ask for an explanation.


– Use the same start and finish dates for each fund – When collecting data, use the same date range. A 10-year performance history from June to June is going to be very different from January to January.


If you would like some assistance in understanding the success and performance of your existing fund, please don’t hesitate to contact us.


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Important information and disclaimer

This publication has been prepared by Leigh Stafford, Penny Collicoat, Little Miss Stonnington Pty Ltd (trading as Edge FP) Authorised Representative(s) of Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee (“Licensee”), Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia Bank Limited group of companies (“NAB Group”). Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information. Information in this publication is accurate as at the date of writing (July 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document. Case studies in this publication are for illustration purposes only. The investment returns shown in any case studies in this publication are hypothetical examples only and  do not reflect the historical or future returns of any specific financial products. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent. If any financial products are referred to in this publication, you should consider the relevant Product Disclosure Statement or other disclosure material before making an investment decision in relation to that financial product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.

Why you should consider consolidating your super

June 2, 2016 by Edge Financial Planning
Consolidating Super

Consolidating your super is the process of combining two or more superannuation accounts into the one single account. Doing so can not only save you money, but also streamline your investment management process. For a full list of benefits, read on!

Cost Savings

Despite your super balance, running multiple super accounts will mean that you pay multiple sets of fees. Consolidating your funds will reduce your fees to the one account, effectively setting aside more for your retirement.

Ease of management

Having one fund will reduce your paperwork (goodbye numerous statements in the mail) and administration tasks. Ensuring that you have more time to focus on the more important things in life.

Locate Lost Super

As part of your consolidation, the team at Edge FP can assist you in completing a lost super search. This will help you locate any funds that have been set aside for your retirement yet have not been allocated to your fund.

Gain better control over your investment strategy

With one fund, it is easier to manage your investment strategy and tailor it to suit your investment needs.

Avoid being under or over insured

Having multiple super funds can also mean you are paying too much for multiple insurance policies that you may or may not need. Consolidating your super under the one fund will make it easier to manage and achieve your insurance needs.

Before you consolidate your super, you need to be aware of the following:

– Exit or Withdrawal Fees may be applied to your existing funds.

– Check whether your employer can make contributions to your new fund.

– Changing your super fund will cancel any of the existing insurance you have in place. It is a good idea to keep this insurance in place until your new policy is in place to avoid any shortfalls.

– Different insurance companies offer a range of different features. If you are cancelling any insurance policies as part of your consolidation, it is important to make sure none of your required benefits are being lost.

– If you’re in a defined benefit fund, it is highly recommended that you source advice before leaving.


To find out more about your current fund you can check your annual statement and/or contact the super fund itself. Alternatively, we can help.


EDGE FINANCIAL PLANNING
Wealth. Surety. Lifestyle.

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Important information and disclaimer

This publication has been prepared by Leigh Stafford, Penny Collicoat, Little Miss Stonnington Pty Ltd (trading as Edge FP) Authorised Representative(s) of Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee (“Licensee”), Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia Bank Limited group of companies (“NAB Group”). Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information. Information in this publication is accurate as at the date of writing (July 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document. Case studies in this publication are for illustration purposes only. The investment returns shown in any case studies in this publication are hypothetical examples only and  do not reflect the historical or future returns of any specific financial products. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent. If any financial products are referred to in this publication, you should consider the relevant Product Disclosure Statement or other disclosure material before making an investment decision in relation to that financial product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.

Get more bang for your tax buck

May 31, 2016 by Edge Financial Planning
TAX PLANNING

The end of financial year is almost here. With a little planning, you can increase your chances of a healthy tax return and start the new financial year in top financial shape. Here are three tips to get you started.

1.     Focus on deductions

Whether you’re an employee or a business owner, chances are you’re entitled to tax deductions for work-related expenses. These will be specific to the kind of work you do, so check the Australian Tax Office (ATO) website for details. This website also has a range of occupation guides that shows you what you can claim for your job as well as what you can’t.

Remember, there are three rules for work-related tax deductions:

–  You need to have spent the money

–  The expense must relate to your job

–  You need to have a record of the payment

If record-keeping isn’t your strong suit, it’s a good idea to start chasing those receipts well in advance. But if you can’t remember every deductible expense you’ve made since July 2013, try checking through your bank and credit card statements online.

2.     Spend ahead

If you’re planning a major work-related expense, it may be worth considering spending the money this financial year rather than in the future (if you are eligible).

For example, if you’re thinking of doing some work-related study at some point in the future, it might be beneficial to pay the course fees in advance, even if you’re not yet ready to hit the books. That way you can bring the deduction forward into the current year, and get the benefit of a larger tax return sooner.

Other things you can prepay for a tax advantage may include:

–  Income protection insurance premiums

–  Repairs and maintenance for investment properties

–  Interest on investment loans

3.     Get the right advice

While we all need to pay tax, nobody wants to pay more than their fair share. But Australia’s tax system is complex, so personalised advice can make a big difference. Without talking to an expert, it’s easy to miss out on concessions and deductions you may be entitled to. For example, your relationship and residential status, your assets and investments, even your insurance cover can all have an impact on the tax you pay.

While they can’t give you tax advice, it may be a good idea to talk to a financial planner about the tax implications of your investment decisions. By creating a financial plan that’s tailored to your personal circumstances, a financial planner can help you earn better after-tax returns and avoid nasty surprises at tax time.

For more information about how a financial planner can help you, speak to us today.


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Important information and disclaimer

This publication has been prepared by Leigh Stafford, Penny Collicoat, Edge FP Pty. Ltd. Authorised Representative(s) of Apogee Financial Planning Limited ABN 28 056 426 932, an Australian Financial Services Licensee (“Licensee”), Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia Bank Limited group of companies (“NAB Group”). Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information. Information in this publication is accurate as at the date of writing (July 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document. Case studies in this publication are for illustration purposes only. The investment returns shown in any case studies in this publication are hypothetical examples only and  do not reflect the historical or future returns of any specific financial products. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent. If any financial products are referred to in this publication, you should consider the relevant Product Disclosure Statement or other disclosure material before making an investment decision in relation to that financial product. Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.

Supporting Bravehearts, the Edge Way.

May 25, 2016 by Edge Financial Planning
Supporting Bravehearts, the Edge Way.

Edge unsettling desire to do more for our community allowed AFA to raise a charity donation of over $5,000

Edge attended the Connect Tour 2016 earlier this year as a member of the AFA (Association of Financial Advisers). The event, organised by Genxt community of practice, unleashed a powerful peer group of experienced advisers sharing information and past experiences to those beginning to build their careers.

Leigh Stafford, principal at Edge Financial Planning, shared his financial expertise, best life hack tips and a few anecdotes. During his speech, Leigh nominated his personal charity Bravehearts, a charity organisation where he has been a member for years.

In a nutshell

Bravehearts

Bravehearts is a well-known Australian charity for its work with children since its inception in September, 1997 by Hetty Johnston. The charity is conformed by a range of different people as parents, partners, friends, survivors, professionals and non-abusive members of the community; collectively sharing the belief that child sexual assault must be stop. The aim? to educate, empower and protect Australian children from sexual abuse. Find more about Bravehearts here

Edge taking action

After nominating Bravehearts, the charity reached donations of over $5,000 during the Connect Tour 2016 for Victoria. We are over the moon with the outcome and thank everyone who donated and participated in the event. At Edge we loved to have contributed towards such powerful cause and stand together with Bravehearts; to make Australia the safest place in the world to raise a child by 2020.

Leigh Stafford speaking at the Genxt Connect Tour 2016 for Victoria by AFA.

Leigh Stafford speaking at the Genxt Connect Tour 2016 for Victoria by AFA.

Leigh also shared Edge 2016 goals to take the working culture to the next level through creativity and corporate responsibility. Our message is clear –

We believe in supporting the community because we are the community

– and aim to lead by example, inspiring and encouraging others to do the same.

Join us on our journey to help Australians become financially knowledgeable, protected and debt free even in the worst of circumstances.

Join us on our journey to help Australians become

 

 

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