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Increase Contributions at Lower Class 2 Rates to Maximise Your UK Pension
February 16th, 2017If you have ever worked in the UK then you will have paid National Insurance contributions. These contributions are paid by workers and employers towards the cost of certain state benefits, one of which is the State Pension. When you left the UK you may have filed away a letter from HMRC which confirmed howread more
5 Steps in creating a personal budget that works
February 12th, 2017One of the most important foundations to Financial Success is getting control over your finances to pay down debt faster, and/or accelerate your savings capacity. The first and most vital step towards this is creating a personal budget. A budget allows you to gain visibility with money in (income) and money out (expenses) and makeread more
MP+ Supports Hampers for the Homeless
January 27th, 2017It’s been our culture at McKinley Plowman to get involved and help the community in any way we can. As part of our charitable drive, the MP+ team engaged in ‘Casual Dress Friday’ in exchange for a gold coin donation that went to a local charity, Truth Strength Freedom. MP+ client, Sarah Campbell established Truthread more
From Sole Trader to Company… Is My Business Ready?
December 17th, 2016A large number of small businesses in Australia generally start out as a sole trader as it is a simple and cost-effective business structure. As a sole trader, you have full control over the business. However when operating under this structure, you are personally liable for all aspects of your business, including debts. This meansread more
Changes to super rules mean planning is essential
December 12th, 2016Recent changes to superannuation legislation have raised some interesting points and highlighted that planning is key. Ian Gath, McKinley Plowman’s superannuation specialist explains how these changes may affect you. New pension rules From 1 July 2017, tax exemptions on super income streams are limited to pension balances of $1.6m for each tax payer. This meansread more
Are you ready for an ATO risk review & audit?
December 5th, 2016As technology develops so do the data matching capabilities of the Australian Taxation Office (ATO). It’s a powerful tool and can often lead to compliance risk reviews and ultimately tax audits. How does it work? The ATO obtains information from a number of sources including banks, other government departments and industry generally. The information isread more
Do you pay wages to employees, or are you an employee? Recent changes to tax tables may affect you!
December 2nd, 2016Tax tables have changed from 1 October Changes to individual tax rates for the 2016 – 2017 year were announced in the Government’s May budget. As a result, the Australian Taxation Office (ATO) has updated a number of tax tables taking effect from 1 October. How does this affect you? The key change is theread more
MP+ Pension Transfer Information Evening
December 1st, 2016Thank you to everyone who attended our information evening on 29 November. We had the pleasure of hearing from guest speaker Philip Parker, Executive Chairman/Chief Investment Officer from Altair Asset Management who discussed the market outlook for the GBP and explained their portfolio. Our pension transfer team explained the options available for transferring UK Pensions andread more
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