Some people say this to themselves on 1 July every year, then 12 months down the track, nothing much has changed. Why? It could be a variety of reasons: too hard, it's boring, it takes up too much time, someone else will sort this out for me. These are just some of the reasons that we hear all the time."I will be better organised this financial year..."
In 2018 we decided to partner with one of Australia's best Wealth Portal platform, MyProsperity. You can read more about it on our dedicated page here.
Some of the features that allow you to be better-organised include:
- The ability to automatically flag transactions that are either taxable income or expenses across ALL your bank accounts including deductible interest payments across your investment loans.
- You can also store your receipts that relate to tax-deductible expenses by taking a photo on your phone or tablet.
- Property management reports for all your investment properties are loaded by your property manager so you can always easily track the rental income, council rates, strata, management fees. This along with the live data feeds from CoreLogic and your investment loan account will help you determine: "How much equity do we have?"; "How has the suburb performed?"; "What is the real net yield on this property?"
- Yes, there are still people that use excel to manage their household budgets! You can set real budgets that spread across all your accounts through the platform and not just limited to each bank account.
- Once all the transactions are flagged properly you can then generate a comprehensive report with attached receipts to your accountant.
- Being able to upload documents to the cloud means less need to store paper in archive boxes.
The Wealth Portal allows you to do this and so much more. Speak to us today about how we can help you turn those new year's statements into a reality.
If you would like to know more, talk to Michael Sik at FinPeak Advisers on 0404 446 766 or 02 8003 6865.
Important information and disclaimer
The information provided in this document is general information only and does not constitute personal advice. It has been prepared without taking into account any of your individual objectives, financial solutions or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide. If you no longer want to receive this information please contact our office to opt out.
FinPeak Advisers ABN 20 412 206 738 is a Corporate Authorised Representative No. 1249766 of Aura Wealth Pty Ltd ABN 34 122 486 935 AFSL No. 458254