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Australia's tax system is structured to accommodate both its citizens and foreign residents. Understanding how foreign resident tax works in Australia is crucial for anyone living in the country temporarily or investing from abroad. This article provides an overview of the key aspects of the tax obligations and benefits that apply to foreign residents in Australia.
Read MoreThe ASX has rebounded after a weak performance, recording 10 consecutive days of positive returns, pushing the ASX200 index above 8000 points. The IT sector led the surge, rising 15.65%, with significant gains from WiseTech, Xero, and NextDC. WiseTech's 34.5% rise was fueled by a strong earnings report, showing a 28% year-over-year revenue increase. In contrast, the Energy sector struggled due to falling oil prices, influenced by China's economic slowdown and geopolitical risks. Utilities also declined, mainly due to a large sell-off following Origin Energy's weak earnings and guidance. Internationally, U.S. markets are recovering, with the tech-heavy NASDAQ leading the gains. Investors anticipate a potential Federal Reserve rate cut, with more clarity expected after their meeting. In Europe, the DAX and STOXX Europe 600 saw gains, driven by expectations of a rate cut from the European Central Bank (ECB) following a decrease in wage growth. The Japanese Nikkei 225 continues its gradual recovery, nearing pre-August levels, with potential to reach new highs given favorable monetary conditions.
Read MoreIn today's interconnected world, many investors are starting to look beyond just financial returns. This shift in perspective has fuelled the growth of ethical investing – an approach that aligns financial goals with personal values and societal concerns. At its core, ethical investing involves choosing investments based on Environmental, Social, and Governance (ESG) factors. The aim is to build a portfolio that not only generates returns but also reflects your values and commitment to sustainable and responsible business practices.
Read MoreAmid rising living costs, renters are increasingly opting for larger homes to share with others, aiming to reduce individual rental expenses. This trend is impacting the rental market, with rents for homes with more bedrooms rising faster than smaller properties. Investors, drawn by rising property values, must consider tenant demand for multi-bedroom homes. However, they should also weigh the potential for higher maintenance costs and location factors when selecting investment properties to align with their financial goals.
Read MoreAchieving business success in FY25 hinges on setting clear, written goals and embracing accountability. This article delves into the transformative power of written objectives, the critical role of accountability, and offers practical steps to integrate these strategies. By adopting these practices, your business can achieve remarkable growth and efficiency, maximising its potential.
Read MoreGlobal markets faced significant turmoil recently, with fears of a US recession causing widespread losses, wiping off over $6.5 trillion USD. The ASX dropped 3.02% over the fortnight, with all sectors except utilities recording losses. The RBA maintained the cash rate at 4.35%, ruling out rate cuts until late 2025 due to persistent inflation. Internationally, the Japanese Nikkei saw a sharp drop but quickly rebounded. While markets are correcting, the global economic outlook remains volatile and unpredictable.
Read MoreIn Australia, the government offers substantial support for research and development (R&D) activities through tax incentives. These incentives aim to encourage businesses to invest in innovation, drive economic growth, and enhance global competitiveness. By providing financial relief, the government helps mitigate the risks and costs associated with R&D projects.
Read MorePut the party pies on ice and postpone those rate-cut celebrations for a while yet. The much-touted rate cuts we’ve been waiting for may not arrive until 2025. Here’s why rates could be staying higher for longer, and how to take action yourself.
Read MoreCharitable giving is becoming an increasingly popular component of estate planning, especially for individuals with substantial estates. For many Baby Boomers, the idea of leaving large inheritances to their children is not always appealing due to concerns that it might negatively impact their motivation and lifestyle. Instead, many choose to leave a moderate amount to their heirs and allocate the remaining assets to charitable causes. This approach not only supports meaningful initiatives but also establishes a lasting legacy.
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