Specialist Services

TAX Strategies

At Hodson Financial we have a good understanding of the various tax laws and how they can be used legally and effectively to give you financial benefits.

This could be in the areas of superannuation, investment strategies, business structures, estate planning, property ownership, loans, etc.

As an example, there are a number of tax deductions and rebates that can be gained from different types of super contributions, which can include a non-working spouse.

Also, many people do not take advantage of income splitting, whether it is employment income or investment income.

Do to the first $18,200 of income that is non-taxable, a household’s income can be greatly enhanced by a legitimate reduction in tax payable.

We work carefully with other professional tax advisers to achieve a suitable outcome for you in your overall financial plan.

Contact Mark or Fiona for Advice

Estate Planning

Surprisingly many people do not address the area of wills and powers of attorney.

This can have devastating results to a family’s accumulated wealth, particularly where someone dies intestate, meaning without a will.

This is a critical area that we focus on in your overall plan to ensure your wishes can be carried out without impediment or financial loss.

We liaise closely with legal advisers to ensure that this area is adequately addressed.

In addition, ownership of assets and business structures should be carefully looked at, particularly where a business could create a risk of personal assets being exposed to litigation.

Centrelink Assistance

Quite often there is some careful planning required when people become eligible for government benefits, e.g., age pension, disability pension, etc.

Age differences between spouses is a particular area that can be exploited for maximum benefits.

For example, superannuation assets held by anyone underage pension age are not counted towards the income or asset test, when determining eligibility for these benefits.

So sometimes a transfer of some super between spouses can give a much higher entitlement.

We are able to deal directly with Centrelink on your behalf at no extra cost, and also construct your finances appropriately for the maximum allowable benefits.