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Liam Shorte

Director, SMSF Specialist Advisor & Financial Planner at Verante Financial Planning & The SMSF Coach

Member Since June 2013

Castle Hill, NSW, 2154

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Financial Planner, SMSF Specialist Advisor and Small Business Advisor who enjoys working with people to have the same control of their finances that they have in their business. I believe when people understand and have control of their savings they are more likely to be active, successful investors. Writes a regular blog as The SMSF Coach. Also contributes to EViser, MYOB's The Pulse, Humble Investors website. I am also the NSW State Chapter Chair for the SMSF Association.

Qualified skills

Insurance
Superannuation
Financial Planning
Insurance-life
Investment Services
Retirement Planning & Or Advisory Services
Stock & Share Brokers
Superannuation Fund Advisors

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Reputation

Liam Shorte answered this question

How to choose the best business loan for your business?

Phil, it is important to use a bank that has experience in your sector as often loans products are adjusted to suit certain sectors like retail, trades, professional services. The problem with applying for a general business loan is that your business cash flow or seasonal changes in running costs may not fit a standard valuation or repayment model. You just take control and not act like you are willing to accept what is offered.

So check the lender has experience in your industry and even ask for references. 

Ask others in your industry what are the important features they have needed in a loan. don't be afraid to ask as most small business owners will be happy to discuss this issue. Make your own list of "must haves" and "negotiable" features.

Talk to your accountant, advisor and lawyer before signing anything and don't be afraid to use a use a broker if you need support but again seek out someone who knows you industry.

 

Superannuation

Questions to ask before you consider buying property in a SMSF

I have had a lot of enquiries lately for advice on SMSF loans for property investment and we have run regular educational seminars on the issue for clients and the public. My main observation from the enquiries I have received is that people are jumping on the band wagon without checking if they really need to take on the additional risk and costs involved. Here are some simple questions to con...

Finance and Accounting

What are the benefits of a Self Managed Superannuation Fund - SMSF

More and more Australians are looking to take greater control and be involved in their superannuation. With over 1/3 of the total superannuation pool of funds in this sector the Self Managed Super Fund (   SMSF) appears to be becoming the retirement vehicle of choice for many Australians. There are now more than 478,000 funds in existence covering 913,000 members, with the value of assets res...

Liam Shorte answered this question

Apurv Bhalla CPA
Apurv Bhalla CPA, Accountant at Success Tax Professionals

Information Technology

What expenses can I claim as IT professional in tax return?

Here is a link to the ATO's page specifically for IT professionals. http://www.ato.gov.au/individuals/content.aspx?doc=/content/00322817.htm

 

Liam Shorte answered this question

Jeffrey Joel
Jeffrey Joel, MD at Auspac Trading NSW PL

Superannuation

What is the maximum amount one can contribute to super?


Self Employed or small company owners can double dip on the concesssional contribution limit?
The taxpayer could have $25,000 concessional contributions made during the year, then make an additional $25,000 in June, enabling a $50k tax deduction.  $25k is allocated to the member in the current financial year, with the $25k in June taxed within the fund, but the allocation not occurring until the following financial year (before 28 July).  you need to be aware amounts to be held over for the 2013/14 year means you cannot make a further contribution next year unless you engage the same strategy. 
Talk to. SMSF Specialist about this strategy as they will have work wih your tax agent ad ATO's system not up to speed and tax agent will need to follow a procedure.
 

Superannuation

Questions to ask before you consider buying property in a SMSF

I have had a lot of enquiries lately for advice on SMSF loans for property investment and we have run regular educational seminars on the issue for clients and the public. My main observation from the enquiries I have received is that people are jumping on the band wagon without checking if they really need to take on the additional risk and costs involved. Here are some simple questions to con...

Finance and Accounting

What are the benefits of a Self Managed Superannuation Fund - SMSF

More and more Australians are looking to take greater control and be involved in their superannuation. With over 1/3 of the total superannuation pool of funds in this sector the Self Managed Super Fund (   SMSF) appears to be becoming the retirement vehicle of choice for many Australians. There are now more than 478,000 funds in existence covering 913,000 members, with the value of assets res...

Liam Shorte answered this question

How to choose the best business loan for your business?

Phil, it is important to use a bank that has experience in your sector as often loans products are adjusted to suit certain sectors like retail, trades, professional services. The problem with applying for a general business loan is that your business cash flow or seasonal changes in running costs may not fit a standard valuation or repayment model. You just take control and not act like you are willing to accept what is offered.

So check the lender has experience in your industry and even ask for references. 

Ask others in your industry what are the important features they have needed in a loan. don't be afraid to ask as most small business owners will be happy to discuss this issue. Make your own list of "must haves" and "negotiable" features.

Talk to your accountant, advisor and lawyer before signing anything and don't be afraid to use a use a broker if you need support but again seek out someone who knows you industry.

 

Liam Shorte answered this question

Apurv Bhalla CPA
Apurv Bhalla CPA, Accountant at Success Tax Professionals

Information Technology

What expenses can I claim as IT professional in tax return?

Here is a link to the ATO's page specifically for IT professionals. http://www.ato.gov.au/individuals/content.aspx?doc=/content/00322817.htm

 

Liam Shorte answered this question

Jeffrey Joel
Jeffrey Joel, MD at Auspac Trading NSW PL

Superannuation

What is the maximum amount one can contribute to super?


Self Employed or small company owners can double dip on the concesssional contribution limit?
The taxpayer could have $25,000 concessional contributions made during the year, then make an additional $25,000 in June, enabling a $50k tax deduction.  $25k is allocated to the member in the current financial year, with the $25k in June taxed within the fund, but the allocation not occurring until the following financial year (before 28 July).  you need to be aware amounts to be held over for the 2013/14 year means you cannot make a further contribution next year unless you engage the same strategy. 
Talk to. SMSF Specialist about this strategy as they will have work wih your tax agent ad ATO's system not up to speed and tax agent will need to follow a procedure.
 

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