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Stephen McCarthy's Blog
19/06/2013
There is no doubt that investing in property can bring significant rewards. But with rewards come responsibilities – to your property, to your tenants and to the taxman.As a property owner the law requires you to file a tax return if you earn rental income from your investment. “Income” is not necessarily the same as “profit”, however. Many items of expenditure can be offset against your rental earnings to minimise your tax liability, especially with the help of a knowledgeable specialist accountant.There is a... click to read more
05/06/2013
How would you like up to $500 tax free from the government paid into your superannuation fund?You may well have missed the government’s rather low key announcement about co-contributing up to $500 tax free into superannuation funds.So, let me give you an overview on this offer. The $500 co-contribution won’t be going into everyone’s super fund. Just into those of people who earn less than $46,920 per year. Maybe that means you miss out. But there may well be someone in your family who does qualify, for... click to read more
22/05/2013
The good news about the 2013 budget announced last week was that there was no big earth-shattering news. Unless you’ve been living under a rock and you haven’t heard that the government is spending more than it’s earning and it’s time to try to balance the books.There are however a few things you should be aware of and if you download our McCarthy Group list of tax tips you’ll find out more. No point in paying any more tax than you have to!For those about to retire and who are looking to downsize their... click to read more
16/05/2013
This blog is for all those people who don’t have a family budget.It’s for all those people who really don’t like the idea of having to create a budget. I want you to think of working out your budget as the first speed bump on the road to financial success.The government has just done theirs – now it’s your turn. And while Mr Swan has spent weeks, and used a large government department to help him, yours won’t take long and you’ll have the help of our budget calculator (see below).It doesn... click to read more
07/05/2013
What’s one of the most expensive days to buy flowers? Mother’s Day, of course--when everybody is buying flowers.So, what’s the most expensive (and therefore least profitable) time to buy real estate? Answer: When everybody else is.At McCarthy Group, one of the most difficult things to get across to those just starting out on their property portfolio building journey, is how to avoid the herd mentality – doing what everybody else is doing at the same time as everybody else is doing it.I like this quote from Warren Buffet... click to read more
01/05/2013
I read in the Australian Financial Review recently that Barry O’Farrell, Premier of NSW, described the effort required to address the housing shortage in Sydney as being “Herculean.”The numbers suggest they may need more than just a bit of assistance from a Greek god. For instance, 545,000 new houses and apartments are planned to accommodate the 1.3 million extra people who will live in Sydney in the next 20 years.While 27,250 dwellings per year are part of Mr. O’Farrell’s plan, according to the article (nearly... click to read more
09/04/2013
INTEREST RATESAs expected the Reserve Bank Board left the cash rate unchanged at 3.00% in April.There was nothing new in the press release from the RBA and their summary was almost identical to that in March when rates were also unchanged.“The Board's view is that with inflation likely to be consistent with the target, and with growth likely to be a little below trend over the coming year, an accommodative stance of monetary policy is appropriate. The inflation outlook, as assessed at present, would afford scope to ease policy... click to read more
27/03/2013
This week McCarthy Group has launched ournew website. We are really humbled by the generosity of our clients, and I’m sure you too will be inspired by their stories. Take a look at our client interviews, and learn about their journey of building their investment property portfolios.Over the past fourteen years, McCarthy Group has been committed to helping people create and build a property portfolio. Hearing their positive feedback about how their lives have changed is what drives me and my team. Making a difference,and seeing... click to read more
19/03/2013
The government ends up with millions of dollars’ worth of ‘lost’ money every year. Does some of it belong to you?If you’re like me, always trying to make every dollar count, it’s hard to imagine how money ends up lost-- or simply forgotten about. But that’s exactly what happens. Millions and millions of dollars’ worth of ‘unclaimed’ and neglected money ends up in government coffers every year. Governments are obviously very grateful for these generous gifts, and recent legislative changes... click to read more
12/03/2013
For a lot of people, the recent global economic crisis brought the challenges of providing our families with financial security sharply into focus. But thinking about wealth strategies and our plans for retirement is still something that never seems to be given enough thought. Why is this? What is holding people back from truly living the life that they desire? I’ve helped a lot of people make those difficult first steps towards developing a real plan and sticking to it. But once they’ve overcome those first steps, they... click to read more
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