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Category : Financial Planning

Kofkin is on a mission to empower all Australians to realise their financial potential.

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“As the beginning of the financial year fast approaches, there’s no better time to remind ourselves that we have the power to do something meaningful and, make something special happen in our lives and our world”, says Tony Kofkin, Managing Partner of Kofkin Bond & Co.

With the launch of Realise your Financial Potential, Kofkin Bond & Co is inspiring Australians to take a first step in pursuit of their chosen passion or purpose, and take small steps into a lifetime of happy memories.

“Realise your Financial Potential’ is a call to action, at a time when people truly believe in themselves to fuel change, and, whether big or small, an action that has the ability to make their world a better place. That movement is what we aim to unveil this financial year.

“Every day at Kofkin Bond & Co. we work to make a difference in the community. Whether it’s working with businesses to drive financial certainty to the bottom line, supporting Australians lessen their tax implications as a result of relocating or working side by side with those who have served, and continue to serve our nation, on a new wealth initiative to secure their financial future,” says Kofkin.

Australian expats could see a jump in tax liability on their home

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The Australian Government is considering new housing affordability laws which could indicate that Australian expats may see a jump in tax liability on the sale of their Australian homes.

Homeowners, who sell while they’re living overseas, could lose the capital gains tax exemption on a home which used to be their main residence in reforms targeted at foreign investors to safeguard the opportunity for Australian buyers to purchase.

The reforms announced as part of the 2017-18 Federal Budget in May. are a part of a host of changes to policy investment rules aimed at improving housing affordability,

Under current laws, Australian residents get a full exemption from capital gains tax on the sale of a home, that was their main residence, throughout the ownership period. Capital gains tax is a tax on the profits earned on an asset in the time that a person buys, then disposes of it. It’s not a separate tax but rather the capital gain is included in a person’s taxable income in the year when the sale was made, then calculated as part of income tax.

Australian residents also receive a partial exemption if the home was their main residence for only part of the ownership period. And they benefit from an “absence rule,” which allows them to treat a dwelling as their main residence for capital gains tax purposes for an unlimited period of time, as long as they keep it empty and don’t rent it out.

How Much Do You Need for Retirement?

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Lifestyle is a very personal thing – luxury living for one person is a modest existence for someone else. This article offers you some guidance on the amount of money you need for retirement to cover your basic living costs and support a hobby or active social life. For example, do you expect to take frequent holidays and are you planning to enjoy regular glasses of wine or beer?

Choosing a retirement lifestyle is simple — you live the life you can afford. If you want a more salubrious lifestyle, you save more, earn more, win the lottery or inherit lots of money from a rich relative. The same philosophy applies to your retirement lifestyle. If you want a comfortable life in retirement, then now is a good time to start thinking about what that type of life will look like.

So, the big question is: how much money is enough for your retirement? Or more specifically, have you worked out the amount of superannuation and other savings that you will need to finance your retirement?

Kofkin Bond & Co Wins Australia’s Top Performing Financial Planners Award

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Kofkin Bond & Co announced today, it has won the Australian Financial Planning Practice Development Award 2017,  at the Total Financial Solutions Australia (TFSA) awards evening in Adelaide.

The award is presented to extraordinary and visionary advisers and practices, recognising best practice financial planning, qualities in leadership, customer focus and improve Australia’s financial literacy.

Kofin Bond & Co Tony Kofkin said the Award is testament to our commitment to improve our client’s financial literacy so they can make informed decisions for their future and improve well being.