Advice Centre Hervey Bay

💡 Medicare Levy vs Medicare Levy Surcharge – do you know the difference?

They sound similar, but they’re not the same thing — and understanding the difference can help you make better sense of your tax obligations.

While the Medicare Levy helps fund Australia’s public healthcare system, the Medicare Levy Surcharge is an additional tax that may apply to higher-income earners who don’t have an appropriate level of private hospital cover.

So, who pays what? And could the surcharge apply to you?

Our latest article breaks down the differences and explains what you need to know.

👉 Read more: https://www.advicecentre.com.au/medicare-levy-vs-medicare-levy-surcharge-whats-the-difference/

If you’re unsure how the Medicare Levy or Medicare Levy Surcharge applies to your circumstances, speak with the team at Advice Centre.

📞 07 4128 2066

💡 New Financial Year, New Financial Goals

Now that the new financial year is underway, it’s a great time to take stock of where you are financially — and where you’d like to be this time next year.

Whether your goals include building your savings, reducing debt, contributing more to super, investing for the future or simply getting a clearer picture of your finances, having a plan can make all the difference.

Our latest article looks at some practical steps you can take to set meaningful financial goals, track your progress and make the most of the year ahead.

👉 Read the full article: https://www.advicecentre.com.au/new-financial-year-new-financial-goals/

If you’re ready to turn your financial goals into a clear plan, speak with the team at Advice Centre. We’re here to help you look at the bigger picture and take the next steps with confidence.

📞 07 4128 2066

Are you CLM Accountants newest team member?

Are you seeking an opportunity to be part of a team, that will elevate your passion, enthusiasm and drive to help others?

We work hard to develop relationships with each other and our clients, which are in various industries and business phases.

This team member opportunity is for a full-time position with a four-day work week and is an in-office position at our modern office environment.

You will have great opportunity to learn and be part of a friendly, social and experienced team.

Accountant Client Manager Job in Hervey Bay, Hervey Bay & Fraser Coast QLD - SEEK Full-time accountant to manage compliance, tax returns, and financial statements for clients.

Running a small business means keeping an eye on much more than what’s happening today.

From changing economic conditions and rising costs to cash flow, tax obligations and longer-term planning, there are plenty of factors that can influence the decisions business owners make.

So, what should small business owners be watching right now?

Our latest article looks at some of the key areas worth paying attention to and why staying informed can help you make more confident decisions for your business and your future.

Read the full article here:
👉https://www.advicecentre.com.au/what-should-small-business-owners-be-watching-right-now/

Every business is different, and having the right advice can help you see the bigger picture.

📞 If you’d like to review your business and financial position and discuss your future plans, talk to the team at Advice Centre.
07 4128 2066

✨ A great day out for our team at Women in Heels! 👠

Our team certainly embraced the opportunity to dress up and enjoy a fabulous afternoon last Friday at the Women in Heels Luncheon, hosted by the Fraser Coast Property Industry Association.

It was a wonderful event filled with great company, plenty of style and the chance to connect with so many fantastic women from across our local business and property community.

A big congratulations to FCPIA for bringing everyone together for such an enjoyable event and supporting Dunga Derby by Rally for a Cause.

And we have to say… our team presented well! 💃✨

More Australians are taking a closer look at Self Managed Super Funds (SMSFs) as they consider how they want to manage and invest their retirement savings.

For some, the appeal is greater control and flexibility over investment decisions. But an SMSF also comes with additional responsibilities, costs and compliance requirements — which means it’s important to understand both the opportunities and obligations before making a decision.

Our latest article explores why interest in SMSFs is growing and some of the key considerations to think about.

Read more: https://www.advicecentre.com.au/why-more-australians-are-exploring-smsfs/

If you’re wondering whether an SMSF could be appropriate for your retirement strategy, speak with the Advice Centre team. We can help you understand your options and make informed decisions about your super and your financial future.
https://www.advicecentre.com.au/contact-us/

Inflation doesn’t just affect the cost of living today — over time, it can also have a significant impact on the value of your retirement savings.

As everyday expenses rise, the amount you’ll need to maintain the lifestyle you want in retirement can rise with them. That’s why it’s important to consider whether your superannuation and investment strategy is positioned to keep pace with inflation over the long term.

Our latest article looks at how inflation can affect your retirement savings and some of the strategies that may help protect your purchasing power.

Read the full article here:
https://www.advicecentre.com.au/how-inflation-affects-your-retirement-savings/

Is your retirement strategy keeping pace with the changing cost of living?

Talk to the team at Advice Centre about reviewing your superannuation, investments and retirement plans to make sure they remain aligned with your long-term goals.
https://www.advicecentre.com.au/contact-us/

Building wealth isn’t just about what you invest in — it’s also about choosing the right structure for your investment strategy.

For Australians looking to build wealth outside of superannuation, investment bonds can offer an interesting combination of investment flexibility, tax effectiveness and long-term planning opportunities.

When structured correctly, investment bonds may provide benefits including:

• Tax-effective long-term investing
• The potential for withdrawals after 10 years without additional personal tax, subject to the relevant rules
• Flexibility to switch investment options without personal capital gains tax consequences
• Estate planning and wealth transfer benefits
• A way to invest towards future goals for children or grandchildren

Like any investment strategy, investment bonds won’t be suitable for everyone. The important question is whether they fit within your broader financial goals and circumstances.

Could an investment bond have a place in your wealth-building strategy?

Read our latest article to learn more, then speak with the Advice Centre team about the investment strategies that may be appropriate for your goals.

Read the full article 👉 https://www.advicecentre.com.au/investment-bonds-a-flexible-and-tax-effective-wealth-building-strategy/

📞4128 2066

Do you really know how your business is performing?

Running a successful small business takes more than being great at what you do. Understanding your numbers — cash flow, profit, margins, pricing and budgeting — can be just as important.

Recent Australian research highlighted a concerning gap between how financially confident small business owners feel and how well they actually understand some of the fundamentals of business finance.

Our latest article looks at why financial and business literacy matters, the warning signs business owners should be watching for, and how a better understanding of your numbers can lead to better decisions.

You don’t need to become an accountant — but you do need to understand what your numbers are telling you.

Read the full article:
https://www.advicecentre.com.au/why-financial-and-business-literacy-matters-for-small-business-owners/

If you’d like greater clarity around your business performance, cash flow, profitability or planning, talk to the Advice Centre team on 07 4128 2066.

A tax deduction means you get that money back at tax time… right?

Not quite.

It’s one of the most common misunderstandings around tax. A tax deduction reduces your taxable income, while a tax refund is money returned to you when you’ve paid more tax throughout the year than you ultimately owe.

Understanding the difference can help you make smarter decisions at tax time — particularly before spending money simply because you believe you’ll “get it back on tax”.

Our latest article explains the difference with a simple example and why the focus should always be on legitimate deductions and good record keeping.

Read more: https://www.advicecentre.com.au/tax-deduction-vs-tax-refund-understanding-the-difference/

Not sure what you can legitimately claim this tax time? Talk to the team at Advice Centre and make sure you’re approaching your tax return with the right advice.

Call 07 4128 2066 to make an appointment.