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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Please, Sir, I Want Some More

Prior to Christmas we were entertained by the stage version of Charles Dickens’ “A Christmas Carol”, in which Ebenezer Scrooge is converted to the spirit of Christmas following visits from the ghost of his business partner and the spirits of Christmas Past, Present and Yet to Come. Post Christmas he probably returned to his real job of usurious money lender! It reminded me that Dickens created in Mr Micawber (from “Pickwick Papers”) an early financial planner. Mr Micawber’s take on money management (which he did not personally follow) was this simple tenet - "Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual incom

Christmas – A Time For Giving

You don’t need a calendar to confirm we are at the pointy end of Christmas. Even if you are not going shopping you will still be subjected to Christmas decorations, everything from big red bows on palm trees in the Botanical Gardens to endless commercial promotion in printed form - everywhere! These days it is easy to forget that this is a religious festival, so severely has it been hijacked by commercial interests. Even if your Christmas does not involve activities associated with your local church (of which you are probably not a member), the concept of “Peace on earth Goodwill to All” is still far more important than backing Australia in the Boxing Day Test. The practice of gift giving (

Negative (?) Gearing

I have never thought of negative gearing as a very bright financial manoeuvre, except back in the 70’s when we didn’t have capital gains tax. If Bill Shorten continues to go out on that very fragile limb of “banning” negative gearing (i.e.cancelling the tax dodging benefits) and achieves the predicted crash in the Australian property market, perhaps he should pause and phone the Commissioner of Taxation who could give him a simple solution – one which is already contained in the Tax Act and which has been there for a number of years now. (Want to know what it is? Contact me and I’ll explain it in detail!) Surely no sensible investor would spend a dollar to save 50 cents in tax unless that 50

A Cashless Society?

Can you imagine a world without credit cards? Neither can I. We appear to be heading towards a largely cashless society but I cannot yet believe that we can totally get rid of small change. The rules applied by financial institutions, largely banks, about who gets a credit card are curious to say the least. One of my elderly clients whose husband passed away a couple of years ago leaving her with an unencumbered house worth more than a million dollars and a superannuation account paying her a tax free $100,000 plus annual income, applied for a credit card for the convenience of paying her bills while travelling to four overseas countries, all with different currencies. The purpose of her tri