How Plus 1 Group Can Help Grow Your Wealth

by | Jul 26, 2024 | Wealth Advice

How Plus 1 Group Can Help Grow Your Wealth

businessman sitting at the table with a laptop

Navigating the complex world of finances can be overwhelming, especially for businesses and individuals in Shepparton and across Victoria. That’s where Plus 1 Group comes in. As your local accountants in Shepparton, we are dedicated to providing comprehensive financial solutions tailored to your specific needs.

What Does Plus 1 Group Offer?

We play a crucial role in managing your financial health. Our services encompass a wide range of activities, including:

Taxation: Preparing and lodging tax returns for individuals, businesses, and partnerships. We stay up-to-date with tax laws to ensure you maximise deductions and minimise liabilities.
Accounting: Maintaining accurate financial records, preparing financial statements, and providing insights into your business’s financial performance.
Business advisory: Offering strategic advice on business planning, growth strategies, and financial management. We can help you make informed decisions to achieve your business goals.
Bookkeeping: Recording financial transactions, reconciling accounts, and managing payroll. We can streamline your bookkeeping processes and ensure accurate financial data.
Auditing: Examining financial records to verify their accuracy and compliance with accounting standards.
Financial planning: Developing strategies to achieve your financial goals, whether it’s saving for retirement, buying a home, or investing.

Why Choose Plus 1 Group in Shepparton?

At Plus 1 Group – your local accountants in Shepparton we understand the unique challenges faced by individuals and businesses throughout Victoria. Our team of experienced accountants is committed to providing personalised service and building long-term relationships with our clients.

Here’s why you should choose us:

Local expertise: We have in-depth knowledge of the Shepparton and Victorian business environment and can provide tailored advice.
Comprehensive services: Our wide range of services ensures all your financial needs are covered under one roof.
Client-focused approach: We prioritise your financial goals and work closely with you to achieve them.
Up-to-date knowledge: We stay informed about the latest tax laws and financial regulations to provide accurate and timely advice.
Technology-driven solutions: We leverage the latest accounting software to streamline processes and improve efficiency.

Whether you’re a small business owner, an individual seeking tax advice, or a growing enterprise, Plus 1 Group is here to support your financial success. As Shepparton’s trusted accountants we believe in building strong partnerships with our clients, providing proactive advice, and helping you make informed decisions.

Contact us today to schedule a consultation and discover how we can assist you. Email or call our friendly team at Plus 1 Group on (03) 5833 3000.

Need more help or information?

Click the link below to contact us at Plus 1.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Client Portal

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

The case for a growing income stream

by | Mar 7, 2024 | Wealth Advice

The case for a growing income stream

Businessman analyzes profitability of working companies with digital augmented reality graphics, positive indicators in 2024, businessman calculates financial data for long-term investments.

Sometimes it is easy to forget or not consider the TOTAL RETURN from an investment portfolio.

We may focus so much on the:

Rental income of an investment property
The dividends from our share portfolio
The coupon payments from a government bond
The income being paid on a pension or annuity
The interest being received on a term deposit

All important as the income invariably provides income for our living expense/lifestyle needs especially for retirees/part time workers or just those solely reliant on returns on their investments to live.

Obviously for investments such as property and shares we also have the growth of the investment occurring (hopefully). Of course at differing times we may need to draw on the growth by selling some of the investments especially with shares (gradual sales) whereas with property not so easy as all or nothing. A subject for another day.

The intention of this article is to focus on the need for A GROWING INCOME STREAM in the main. In other words if I had a say $100,000 share portfolio paying dividends on average of 4% per annum (exclude any tax or franking for this illustration) then that is $4,000 per annum. If the dividend is taken then that’s fine and you still have the $100,000 working for you.

What we do want however is that that dividend/income stream grows as well (or similarly with rental property the rent amount grows each year).

So say for instance the share price grew and the investment was say 5% higher a year later (in addition to the 4% dividend paid) then you would reasonably expect the second year dividend to be $100,000 times 4% times 1.05 being now $4,200.

Extrapolate that out say 10 years then with similar growth (for the purposes of this exercise) then after 10 years you would expect the dividend payment to be $6,205 as below. Based on the assumption that the companies within the portfolio continue to produce profits and distribution of these profits is consistently done.

So dividends were not just $10,000 (10 times $4,000) but $50,312.

The concept is the same for residential investment property where you would ideally want rents to keep pace with inflation or growth in the property – within reason.

All goes well why growth assets in a portfolio are a very important part so as supporting a:

GROWING INCOME STREAM

At Plus1, we are available at any time to discuss issues of this nature, with due regard to your investments or financial planning generally.

Need more help or information?

Click the link below to contact us at Plus 1.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Client Portal

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

Investment returns – some other considerations

by | Feb 5, 2024 | Wealth Advice

Investment returns – some other considerations

When we invest whether it be in Superannuation Funds or Pension Funds or just Ordinarily Taxed investments clearly we want to have a good return on our monies commensurate with the risk we are taking. CLEAR and SIMPLE.

In our chase for returns we can sometimes miss other side issues that can take the gloss off a good return or enhance a return. Remember that just a small increase in TOTAL RETURN of even 1% per annum can have significant impact on the end result. Simplistically something earning 7% per annum (income and growth) will take a bit over 10 years to double whereas something earning 9% per annum will only take 8 years to double in value.

We would always advocate in principal that your return on investment is the main goal.

The purpose of this article is to highlight a few other considerations when doing some financial planning/investing whether it be a lump sum amount or just regular monthly amounts like for instance our employer superannuation contributions and/or a regular bank account deductions for investment in a “savings plan/portfolio”.

Other considerations to assist in total return might be:

Do I want to invest with a view to having some franking credits involved. Can up to 1.50% to 2% return depending on circumstances.

Is the management fee over 1%. If so it might be a bit rich.

If the investment is earmarked specifically for retirement then super taxed at maximum of 15% might be best.

Am I approaching age 60 then Super then eventually Pensions might be the go as all tax free.

In light of fees charged are Exchange Trade Funds (ETF’s) a better option than Managed Funds.

I am a retiree – have I maximised my Centrelink – Age Pension with this choice of investments. For those around the mark you will be surprised what can be done. To highlight – every $10,000 less in assets that count means $780 per annum more age pension. A 7.80% return on your money.

Internet savings accounts far outweigh day to day bank accounts with almost all the same facilities. 5% versus 1% is common.

I am on a high marginal tax rate can I get the same or similar investment by way of an Investment Bond taxed at lower rates.

Should I consider a GEARED portfolio for some of my investments to have more monies working for me.

At Plus1, we are available at any time to discuss issues of this nature, with due regard to your investments or financial planning generally.

Need more help or information?

Click the link below to contact us at Plus 1.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Client Portal

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

It’s a New Year, Start 2024 with a Financial Plan & Start Growing Your Wealth

by | Jan 22, 2024 | Wealth Advice

It’s a New Year, Start 2024 with a Financial Plan & Start Growing Your Wealth

From fluctuating fuel prices to managing cash flow and planning for retirement, Plus 1 Group has helped countless truckies, couriers, and logistics professionals take control of their finances and drive towards a secure future.

Why Should You Invest in a Financial Plan in 2024?

A well-crafted financial plan is like a GPS for your finances, guiding you to your destination and helping you avoid costly detours. Here’s how having a plan with Plus 1 Group can benefit you in 2024:

Maximise Your Profits: We’ll analyse your expenses, identify areas for optimisation, and implement strategies to boost your bottom line. Think fuel cost savings, tax efficient structures, and smarter investment choices.

Grow Your Wealth: Forget just making ends meet; we’ll help you build a solid financial foundation with tailored investment plans, asset protection strategies, and retirement planning solutions.

Reduce Stress and Uncertainty: The transport industry is inherently unpredictable, but your finances don’t have to be. Our comprehensive plans provide clarity and peace of mind, allowing you to focus on what you do best – keeping the wheels turning.

Navigate Industry Changes: From new regulations to technological advancements, the transport industry is constantly evolving. We’ll keep you informed of relevant changes and help you adapt your financial plan accordingly.

Plus 1 Group: Your One-Stop Shop for Financial Planning in Shepparton & Beyond

We offer a comprehensive range of services tailored to the needs of the transport industry, including:

Business tax advisory: Minimise your tax burden and maximise your return with expert advice and strategic planning.

Personal financial planning: Build wealth, plan for retirement, and protect your loved ones with personalised financial solutions.

Superannuation advice: Make the most of your superannuation and ensure a comfortable retirement by choosing the right fund and maximising your contributions.

Estate planning: Safeguard your assets and ensure your wishes are carried out with comprehensive estate planning strategies.

Stop Waiting, Start Planning for Your Financial Future Today!

Don’t let another year pass you by without taking control of your finances. Let Plus 1 Group, your experienced financial planning and business adviser in Shepparton, be your reliable navigator on the journey to financial success.

Here’s how to get started:

Book a free consultation: Discuss your financial goals and challenges with our friendly experts.

Remember, it’s never too late to take the wheel of your financial future. Contact Plus 1 Group today and let’s hit the road to your financial goals in 2024! Email or call our friendly team at Plus 1 Group on (03) 5833 3000 and we’d be happy to answer your questions and arrange a no obligation consultation.

Need more help or information?

Click the link below to contact us at Plus 1.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Client Portal

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

Key Insights into Australian Financial Planning for 2023

by | Dec 6, 2023 | News, Wealth Advice

Key Insights into Australian Financial Planning for 2023

Set out below are a few statements, figures, and facts which are not necessarily well known.

• 80% of Australians will at some stage of their lives be on a partial Centrelink Age Pension.

• Any Capital Gain from the sale of shares or property etc. is discounted by 50% when the investment/item is held for more than 12 months. This means, at the very most (depending on all else), that any capital gain income tax will never be more than 23.50% (half of the top marginal tax rate of 47%). Often, the tax is significantly less when employing other strategies.

• Low-income earners can receive a government co-contribution to their superannuation of up to $500 each year by contributing $1,000 of their after-tax income to their superannuation, subject to certain conditions.

• Superannuation pensions received from age 60 are tax-free, including any lump sums for retired persons.

• Certain pensioners/seniors can earn approximately $33,000 per annum and pay no personal income tax.

• Fully franked share dividends can add close to 2% per annum to your overall investment return, depending on the percentage of the share dividend.

• With Exchange Traded Funds (ETFs), investors can gain access to the shares/companies of the World for as little as $1,000 and can add small amounts monthly by regular debit to their bank account.

• Term Deposits are now paying interest of up to 5%, depending on the term and amount. Internet Savings accounts are paying similar interest.

• For risk-averse investors, their Superannuation and/or Pensions can be invested solely in Cash and Term Deposits.

• The Age Pension full amount available is now $41,000 (couple) and $27,000 (single person), subject to the usual Assets and Income Tests. Receiving this full amount equates to approximately 60% of the average living expenses.

At Plus1, we are always available to discuss matters related to your investments or financial planning.

Need more help or information?

Click the link below to contact us at Plus 1.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Client Portal

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

Investing for the grandkids – Something different

by | Oct 30, 2023 | News, Wealth Advice

Investing for the grandkids – Something different

Invariably grandparents want to assist their grandchildren with their general wealth creation knowledge and experience as well as where possible and affordable to do so then assist with some actual dollar investing for their future.

The following come quickly to mind:

Setting up a special bank account investment account (internet style hopefully) – earmarked for the new born grandchild when they are age18/21/25. Medium/Long term stuff.

Investing a lump sum and/or regular amount at say age 18 for assistance in next 10 years for a home deposit etc. Typically a growth type portfolio invested in Managed Funds or ETF’s. Medium/Long term options.

Now here is something a bit different.

Say the grandchild leaves school at age 18 and is going to university for 4+ years, if you really want to do something very long term (they will be forever thankful when they are retiring) then why not take advantage of some very early superannuation contributions for them.

Assuming they are doing some part time work while at university then perhaps invest $1,000 each of the 4 years into superannuation for them. These are referred to as Non Concessional Superannuation Contributions and therefore the grandparent can do the amounts on the child’s behalf. Of course provided the grandparent has the availability of the cash and a willingness to do.

Importantly for the $1,000 the Government will match this amount with a $500 amount what is called a Government Co Contribution. That represents a 50% return on the investment even before it is invested by the Super Fund. Not bad!

A couple of pieces of criteria for eligibility are:

The child must be doing some part time work and has employment (self or employee) type income of at least 10% of total taxable income in each of the say 4 years.

Grandchild must complete a tax return even if there will be a nil outcome.

Total Taxable income for any year must be below $43,445 (indexed annually)

We would recommend a 100% Growth Portfolio as the monies are preserved until at least age 60.

Now the good bit – with the power of compound interest and an average return of say 9% per annum that $6,000 (4 years at $1,000 plus 4 lots of $500) would be worth $159,000 in 40 years. Then of course the grandchild will have their own superannuation as well when fully into the work force after university.

Something to think about. They will thank you in 40 years – trouble is the grandparent most probably won’t be around to get the big hug – sadly.

We are available at any time to discuss issues of this nature with due regard to your investments or financial planning generally.

Need more help or information?

Click the link below to contact us at Plus 1.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Client Portal

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

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