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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Latin Roots

When I was in primary school part of our early education was learning the Latin roots to English words. (For those of you who have no idea what I’m talking about you can get a broad understanding of Latin roots here). This means that as I go through life I can better understand what people are talking about if they use a word (or words) which is completely or partially unfamiliar to me and gives me a fair chance of not misunderstanding their message. The desired result may not always be achieved, especially when two roots are pronounced the same but spelled differently - like “anti”, meaning against, and “ante” meaning before. There are a few basics that kids can learn before turning 5 and h

True Value

When a commercial deal has been transacted, money or something of value has been exchanged for another thing of value. “Value” in that case should result in both parties to the deal walking away with a smile on their respective faces. In legal terms, true value is achieved by setting a price that a willing but not anxious buyer pays to a willing but not anxious seller. Our entire society is set up in such a way that “bargains” are obtained either because buyer or seller is in fact anxious. It is sometimes forgotten that the daily reports which we receive from all the share markets in the world are telling us about sales that have actually taken place and that every single one of them feature

Hard Earned???

The description above has been used so boringly often that these two words are now (and have been so for a long time), a substitute for the word that follows – money! Cynics or jealous members of the “working class” might even suggest that the world of those who actually have some money is divided between those who earned it the hard way ( translates to holding down a poorly paid job and saving some of it ) and those who got it the easy way of a highly overpaid job or the magic of marriage or inheritance, or both. I have only had one client who won Gold Lotto and by the time he got to me he was flat broke. With “a little bit of help from his friends” he managed to blow over $1 million in les

Where’s the Money Coming From?

Complaining about tax is not simply a national sport in Australia, it's a phenomenon enjoyed across the globe. I first studied tax at a time when private companies – still the backbone of our free enterprise society – paid 50% of profits in tax, and were obliged to pay dividends (no franking credits in those days) to avoid the “undistributed profits tax”. This was designed to ensure that the shareholders received those taxable dividends - and then paid more tax. Billions of handout dollars are currently being doled out by the government to keep our population fed, housed and employed during this crisis because many employers are simply unable to carry on their business and therefore cannot p