Meet Leanne Rudd – CEO, The Money Edge
Welcome to The Money Edge
The Money Edge provides a variety of consulting services delivered by a proactive, experienced and knowledgeable team.
With such a range of services The Money Edge’s team of highly skilled and qualified staff can assist you to visualise how our services complement each other in order to help you make, save, manage, protect and grow your money to help you to achieve your desired lifestyle.
Our Latest Blogs
- Adjusting to a reduced income in retirement can be challenging. But luckily there are a wide range of support options avBeing faced with cancer can have a devastating impact on women and their families. That’s why it’s so important to reducSingle and fabulous? Make sure your finances are in top shape as well. Whether you’re single by choice, readjusting afteIf you are in the Building and Construction Industry, the ATO may be wanting to contact you! The ATO has released a notiThe Inland Revenue Authority of Singapore and the ATO have entered into an agreement on the automatic exchange of financThe Treasurer has ordered the sale of a further 16 Australian residential properties that have been held by foreign natiThe Department of Human Services (DHS) (which operates Centrelink) has launched its ‘Non Employment Income Data MaIn a recent case before the Administrative Appeals Tribunal (AAT), amended assessments issued to a taxpayer by the ATO,Goods imported into Australia – often by consumers using the internet – which cost less than $1,000 are currently GST-frEarlier in the year, we reported that an unknown source had leaked 11.5 million documents from the Panamanian law firm oFollowing further consultation, the government has announced the following ‘improvements’ to the superannuatThe official cut off thresholds have now been determined. In order to retain a part age pension and keep the concessionsSingle Touch Payroll (STP) has now passed through parliament. It applies to businesses with 20 or more employees and aFarm managers often contain and process a lot of data in their heads (extreme amounts), regarding weather patterns, soilMany newlyweds start married life struggling from heavy debts from their big day. But with a proper financial plan, a waRecent studies show that more than two in five Australians lack confidence when it comes to financial decision making1.Being your own boss can be rewarding, but it’s also incredibly challenging. That’s why it’s important to future-proof yoIt’s impossible to know what’s on the horizon, but with the right personal insurance, at least you can be financially prAs of 1 October 2016 the tax rates will change. Are you ready? In the May Budget the government announced changes to indAfter a brigade of changes to the unpopular $500,000 Lifetime Non-Concessional Cap first announced in the May budget, thAfter attending Xerocon in Brisbane last week, they made many announcements of improvements they are making to Xero. SoWith over eight million Australians claiming work-related expenses each year, the ATO is reminding people to make sure tThe ATO’s stance against phoenix activity has continued with multiple search warrants issued, and many business and resiThe ATO has also confirmed that the cost to a business taxpayer of a yearly airport lounge membership (e.g., Qantas ClubThe ATO has confirmed that a taxpayer carrying on business is generally entitled to a deduction for expenses incurred onIn the 2016/2017 Federal Budget, it was announced that, from 7:30pm (AEST) on 3 May 2016, there will be a lifetime cap oThe ATO has launched a new project called ‘Super Scheme Smart’, an initiative aimed at educating individualsWhen it comes to business, first impressions can make or break the relationship. But how can you make that first impressPayroll mistakes can be expensive to small business. Follow these tips to help you avoid making these mistakes that willGoing through a separation or divorce raises a lot of questions. One of these relates to money. Given you’re likely to hInstead of waiting for a partner, women are taking charge of their own financial future and buying property on their ownWhen you’re having a baby it’s normal to focus on the practical aspects of preparing for the arrival of a newborn. In faHow often do you speak with your Accountant? Surprisingly enough, the answer is usually not often enough. While thereThe Australian Tax Office have announced that they will be cross referencing Insurance Policies for Luxury Lifestyle AssThey say every great journey starts with a single step – and yours is just beginning. Here’s how to get on the path to fWhether you’re considering residential aged care for yourself, a family member or a friend, the options can seem overwheBe SMART. Make your goals Specific, Measurable, Achievable, Relevant and Time-based. Each goal should have a realistic dIf you haven’t figured out your lifestyle goals for the future your financial strategy is like a journey without a destiWorking part-time can give you the freedom to make the most out of both your professional and personal life – but you neThe CGT improvement threshold is $145,401 for the 2016/17 income year, up from $143,392 for 2015/16.The benchmark interest rate for 2016/17, for the purposes of the deemed dividend provisions of Div.7A, is 5.40% (down frThe reasonable amount for overtime meal allowance expenses for 2016/17, where an allowance is paid under an award, orderThe ATO has determined that the rate at which work-related motor vehicle expense deductions may be calculated using theThe ATO has released the latest benchmarks for small business based on the data from 2014 income tax returns and businesThe ATO is concerned that those earning money from the ‘sharing economy’ may not realise they have to declarThe ATO is reminding Australians to be on the lookout for tax-related scams during tax time, as scammers are particularlNow that the government has been re-elected, it seems they are committed to proceeding with their superannuation policy,Online payments have grown to become the preferred method for individuals and businesses alike over the past 10 years, wIn attempt to simplify and streamline rules surrounding superannuation contributions, the recent Federal Budget has propAustralians families are changing and so are their financial needs. It’s no secret that Australia’s population is growinAs the Baby Boomers continue to move into retirement, a national discussion about the economic challenges of our ageingEthical investing has gone from backwater to mainstream over the past decade, as Australians discover they can make theAre your invoices being paid on time? If not, this can play havoc on your cashflow and cause major flow on effects to yoAs a woman who’d like to grow your wealth and save for the future, do you sometimes feel that it’s impossible to get aheWith only days to go until the 30 June SuperStream deadline, the ATO noted that, while many small businesses had implemeThe ATO is reminding taxpayers who earn income through the sharing economy that they have tax obligations they should coThe ATO is allowing SMSF trustees additional time until 31 January 2017 to ensure that any limited recourse borrowing arThe ATO has provided an update of the amounts it will accept for 2015/16 as estimates of the value of goods taken from tThe car limit is $57,581 for the 2016/17 (up from $57,466 for the previous year). This amount provides a limit on depreThe ATO has published the 2016 September quarter rates for the General Interest Charge (GIC) and the Shortfall InterestWith Tax Time 2016 just around the corner, the ATO has stated it will be paying close attention to excessive interest exWhat next? Against the run of the opinion polls and the betting markets in the final few days before the vote, the peoplWith the end of financial year fast approaching now is a good time to focus on making sure you have everything ready forSmartphones and apps have made it easier than ever to help us track our financial progress and make informed decisions oDo you store your receipts in a shoebox for your Bookkeeper or Accountant? Why not scan all your dockets and receipts anAre you a keyboard pressing ninja and prefer to navigate around in just a couple of buttons? MYOB Accountright live canThe ATO is reminding the public to be alert to scammers impersonating the ATO demanding iTunes gift cards as a form of tWith the 30 June 2016 deadline looming, the ATO strongly encourages small businesses to get on board with SuperStream asThe ATO has been working on ways to deliver a simpler business activity statement (BAS) to simplify account set-up, recoIn recent years, the ATO has focused on trusts developing and selling properties as part of their normal business. WhenFrom 1 July 2011, SMSF investments in collectables and personal-use assets have been subject to stricter rules than SMSFThe government handed down the 2016/17 Federal Budget on Tuesday 3rd May. It included (among many changes) proposed persAccounting is done best when one file contains all necessary transactions for a financial year; 1 July to 30 June. WhenDespite protest from the agricultural industry, the backpacker tax rate has been increased in the federal budget to a flAre you thinking of selling a property? Before you do, you need to know if there are any Capital Gains Tax (or CGT) implWe plan ahead for annual holidays and even public holidays but often we don’t consider how we can plan ahead to reduce oThe ATO has advised that it is continuing its Contractor payments data matching program. It will acquire data from businFrom 1 July 2016, new rules will apply to sales of taxable Australian property (e.g., real estate) with a market value oThe ATO has advised that it has identified some instances where lifestyle assets, such as artworks and collectables, areEach year, the ATO identifies industries that they believe are at risk of not meeting their super guarantee obligationsWith the SuperStream deadline of 30 June rapidly approaching, ATO Deputy Commissioner James O’Halloran says now is the tAs part of an ongoing, Australia-wide program, the ATO has advised that it will be visiting restaurants, cafés and take-Clients may have recently heard something about an unknown source who has leaked 11.5 million documents from the PanamanWhen giving a payslip to a casual employee, the base rate of pay and the casual loading amounts need to be listed separaSalary sacrifice arrangements – it might be better to claim the deduction personally. Those with higher account baWhat You Need To Know Last night, Federal Treasurer Scott Morrison handed down the Federal Budget for the 2016-17 financWhile the prospect of retirement is exciting for most, the changes it brings can be a shock. In the previous edition ofAs Australians brace for a federal election, all eyes will be on the polls – and the economy. A slump in the resources sSince 2007 in certain circumstance Self-Managed Superannuation Funds (SMSF) have been able to borrow money from relatedWith the June 30 deadline fast approaching there are several tools that will enable you to be compliant and be able to lThe short answer is yes, but the rules have become more strict. New rules regarding storage and insurance for collectablThere has been some media speculation in the lead up to the Federal Budget about potential changes to superannuation rulThe ATO says that the 2013/14 data is now available for the ‘Small business benchmarks’. The ATO uses theseBasically, the ‘backpacker tax’, as announced, would see backpackers who work in the agricultural industry dThe ATO is warning trustees of SMSFs who hold investments in collectables* or personal-use assets*, acquired before 1 JuThe ATO has issued a timely reminder before the end of the financial year on the changes announced in last year’sIn 2012 a new law passed which established a new national register which has become the final authority for securities cThe Australian Taxation Office (ATO) has increased their scrutiny of all businesses and therefore we have seen a recordDon’t stress, there is still time to get your FBT sorted before you the ATO decides to conduct and audit! We are alwaysYou are one year out from retirement. Here are five steps to take now to ensure you’re ready. The last 12 months beforeWith International Women’s Day celebrated on March 8th, this month we focus in on the successes and learnings of a femalThe ATO has advised that they will begin cancelling the ABNs of approximately 220,000 trusts, where there is evidence thFor decades Australians have expected that they will live a better life than the generation before them but that might aAnybody interested in growing and protecting retirement wealth can learn important lessons from the investment strategyIn a recent case, a taxpayer undertook significant trades on the stock exchange and made losses, but was still found toAn employer cannot claim an input tax credit where it pays an expense on behalf of a superannuation fund, as the supplyParliament recently passed legislation amending the taxation law to impose withholding obligations on the purchasers ofThe ATO has advised that it will collect information from the Department of Human Services (DHS) for the following benefOn 1 January every year I wake up with this amazing feeling in my belly, some may call it butterflies, but really it’s tLast week some of our team members went to the Xero Roadshow. These are some of the new features that our Xero users canThe ATO has advised that foreigners who own land in Australia now have until 29 February 2016 to come forward and registThe ATO has published the 2016 March quarter rates for the General Interest Charge (GIC) and the Shortfall Interest CharA taxpayer’s claim that a related trust was entitled to the small business 15-year exemption* was rejected becauseThe ATO has reminded taxpayers that, in relation to claiming car expenses, the one-third of actual expenses method and 1The ATO has advised that, for people affected by the recent Victorian and Western Australian bushfires, refunds will beThe ATO has just announced that it is starting a new “asset” data matching protocol, and extending another CTo be able to claim deductions for the expenses of having a rental property it needs to be made available in the eyes ofWhen you own a rental property you can claim deductions for certain expenses.These expenses can only are only deductibleIn recent weeks we have discussed whether you can claim your car and ways in which you can claim your business related tNow we asked a few weeks ago… “Can I claim my car?” If you answered yes there are certain ways that th