Entries by synecticgroup

What Labor’s changes to the dividend imputation system mean

There has been much discussion about the dividend imputation system in recent weeks as the government and the opposition play political tennis with franking credits. On 13th March, Opposition Leader Bill Shorten announced Labor’s plan to change the dividend imputation system if they win the next federal election. The changes would make franking credits non-refundable […]

Are you taking data security seriously?

You’ve heard it all before: change your passwords, make them difficult to guess … blah, blah, blah. But it’s well past the time for us all to take data security seriously. Cyber criminals are targeting Tasmanians and their businesses of all types and sizes. If you’re not looking after your and your customers’ data you could […]

2017 Business Excellence Awards Finalists

We’re proud to be finalists in the Launceston Chamber of Commerce 2017 Business Excellence Awards, Professional Services category. A big “thank you” to all our staff and clients who continue to embrace our culture of innovation, best practices and meaningful advice.

Welcome Matthew McConnell, Senior Financial Adviser

We are thrilled to welcome another highly skilled adviser to our team! Matthew McConnell joins us as a Senior Financial Adviser. Based in our Devonport office, he will provide financial planning services to our clients throughout Tasmania. “I am looking forward to helping Synectic’s clients identify and achieve their personal, family and business goals. It’s important to me that […]

2017-18 Federal Budget: Economic outlook, infrastructure and development

The 2017-18 Federal Budget delivers an overall optimistic economic and fiscal outlook for Australia. After a 2016-17 budget deficit of $37.6bn, the deficit for 2017-18 is forecast to be down to $29.4 billion. Following that comes a projected surplus in 2020-21 of $7.4bn. The Budget also anticipates an economic rebound, with growth at 3.0% from […]

2017-18 Federal Budget: Superannuation

Despite no major new superannuation measures in the 2017-18 Federal Budget, the Government continues to tinker with Superannuation rules. In particular, the introduction of the $300K additional non-concessional contribution for older downsizers creates an exception to the recently-introduced Total Superannuation Balance $1.6m cap, and the concessions for first home-buyers to use super to save for […]

2017-18 Federal Budget: Businesses

Small and medium businesses were the big winners of last year’s budget. It is therefore no surprise that the 2017-18 Federal Budget announcements have been less stimulating. However, there are still tax and business planning opportunities coming out of the Budget which we look forward to assisting our clients with.

2017-18 Federal Budget: Housing affordability and supply

Housing affordability has been one of the major components of this year’s Federal Budget, which featured a comprehensive package of tax and superannuation measures aimed at increasing housing availability and improving affordability. The government has also reigned in tax breaks enjoyed by many residential property investors in the hope of providing Australians with confidence that […]

2017-18 Federal Budget: Personal Taxes and Medicare

Personal taxes The option of claiming a standard tax deduction for work expenses has long been talked about, in the hope of simplifying personal tax returns. It was speculated to be delivered in this year’s Federal Budget, however was not to be. The 2017-18 Budget also contained no changes to the personal income tax rates […]

Farm Management Deposit (FMD) scheme changes: What they mean for Tasmanian farmers

The Farm Management Deposit (FMD) scheme allows farmers to set aside primary production income in years of high income, to draw on in leaner years. The deposits are an excellent cash flow planning tool and an important strategy for primary producers to consider in their tax planning. They help farmers build up cash reserves while smoothing […]