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Centric Wealth Blog

Welcome to the Centric Wealth Blog. We invite you to follow our blog, learn from our blog articles, view updates on our company and more.

Talking Tax: Travel Allowances 22 Feb 2018
A travel allowance is a payment made to an employee to cover expenses when he or she travels for work. When you receive a travel allowance there are two things you need to consider; whether the allowance is assessable income and if so, how much of a tax deduction can you claim against it.
Could Death, Injury or Illness Bring your Business to its Knees or Ruin your Retirement Plans? 22 Feb 2018
If you, your business partner or a key employee suffers one of these events then you may be at risk. Every business owner, partner or company director should review their insurance position with a licensed adviser.
Mandatory Notifiable Data Breaches Scheme Information 22 Feb 2018
While regulated entities have been legally obligated to take reasonable steps to maintain the security of personal information held, there was previously no obligation to notify individuals if their personal information was compromised. A lack of awareness around data breaches and the regulations around data reporting has hindered individuals from taking preventative action against crimes and identity theft by, for instance, cancelling credit cards or changing passwords.
Centric Wealth named one of Australia’s best 13 Feb 2018
Centric Wealth has been named as one of the top brokerages in Australia, securing a place in The Adviser’s Top 25 Brokerages ranking 2018.
At What Point Does a Hobby Become a Business?  26 Jan 2018
The pursuit of a hobby by an individual may be to supplement wages, create income after having lost a job, test the waters for a new commercial venture or simply follow a passion. The pursuit of a hobby is not the same as carrying on a business for taxation purposes, which means that money derived from a hobby is not income and therefore is not assessable. Conversely, hobby expenditure is not tax deductible.
Asset Management - Lessons from Norse Mythology 18 Jan 2018
In Norse mythology, the story of Idunn stands out as a tale of really bad asset-management by the gods. Some consider it never a good idea to store your most critical and valuable possessions in a single asset for too long. “Don’t keep all your eggs in the same basket” is a truism for a good reason.