Comfort with Money

by Rodney Gibson Financial Advisor

I am a sole practitioner with 40 years experience in finance, taxation, law, business and accounting. I am currently associated with SALA Financial Services. I provide the following:

  • Estate Planning, including wills and powers of attorney (EPOAs)

  • Estate Management

  • Taxation advice

  • Investment advice, including superannuation

  • Business structure advice

 

My aim is to assist you to live within your means and achieve all your financial goals.

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Business Structure

When setting up a new business one of the critical decisions that must be made relates to the structure of the business.The options are:· Sole Trader· Partnership· Joint Venture· Limited Partnership· Trust· Company Most people going into a new business or making changes to an existing activity that earns some money on the side (which is possibly just a hobby and therefore not taxable) will be frustrated by the answer from a professional to the question “Which structure is best for me?”The answer must be……”that depends”. Tax considerations are important, but depending on the type of the business, expected profitability and family circumstances, these considerations could easily be overwhelmed

Bitcoin

I don’t think I want to know about Bitcoin. Having said that I’m sure there are one or two real millionaires who did exceptionally well from this speculation who would tell me what a great investing opportunity I missed out on. Personally I do not speculate and my definition there is a clear distinction between speculation and investment. Investment means long term, period. The two money losing ventures that I heard about before I was even in my teens were the Tulip Bulb speculative boom of the 17th Century and the South Sea Bubble, an 18th Century money making scheme run by a government supported company riddled with insider traders and crooks. At least the last buyers of tulip bulbs had