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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Tax Cuts

Australian politics and the revolving door of the Prime Minister’s Office might remind you of post 1945 Italy where changing government was almost a national sport. Apart from personality differences it is enlightening to point to two major policy issues that created considerable heat in the recent turmoil, namely reducing company tax and dealing with the supply of electricity (but not the cost). The concept associated with “giving huge tax cuts” to the (not very well liked) banks is presented to the hardworking battling Aussie as giving money, our taxpayers money, to organisations which do not deserve it. Who owns the banks? Who gets the benefit of tax cuts to the banks? The answer: Hardwor

Clients or customers?

Client - build a relationship - provide professional advice. Customer - conduct a transaction - sell goods or services. I was recently asked to differentiate between clients and customers, if indeed there is a difference, and wondered if the distinction simply related to one’s place in our society or what you are paying for. Doctors, dentists and veterinary surgeons are well looked in this respect - their own clients can safely be referred to as their “patients”. The English language has many more words than other languages and although these two words refer to some person (or organisation) who pays money for goods in exchange for that money or for services rendered, the closest I could get

Profit is not a dirty word

Governments are elected to govern which means looking after ALL the population in an equitable fashion. To do so they need to do what the rest of us do – namely earn (or somehow obtain) enough money to stay solvent. They can of course do what we do – borrow money to buy something – but like all of us they must be able to count, to budget, to prepare for shocks, to be honest and to plan for the future. Karl Marx hated capitalism and thought profit was a dirty word. Somehow there is a strange notion held by a large number of Australians that if a state-owned enterprise makes substantial profit that this is a bad thing and they (the government) are gouging the people they should be protecting a

A day at the races anyone?

I have only ever had three clients who had either won Gold Lotto or its equivalent. All three were broke when they came to me for advice about how to make ends meet! Sermons at that stage are remarkably unhelpful. I don’t play the pokies, buy raffle tickets or gold lotto tickets, not because I am opposed to gambling (it is your money to do with as you wish) or in fact opposed to any inappropriate disposal of your money. Inappropriate means many different things because what is inappropriate for Jack may very well be perfect for Jill. I think lots of kids start handling money at the age of about three but as soon as they do that their parents should absolutely ensure that they can count. I ha