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Jacqui Sherlock

November 21, 2024
Jacqui Sherlock
In Business, Latest Updates, Media

Andrew Sherlock in Barron’s Top 150 Financial Advisers 2024

Andrew Sherlock Named One of Australia’s Top 150 Financial Advisers

Financial investment publication Barron’s, in partnership with The Australian’s business magazine ‘The Deal’, has released its annual rankings of Australia’s Top 150 Financial Advisers. This prestigious list recognises the top practitioners in the industry, based on a comprehensive national survey that assesses client assets managed, fees and revenue generated, and the quality of the adviser’s business.

We’re thrilled to announce that our CEO and Head of Advice, Andrew Sherlock, has been named one of Australia’s Top 150 Financial Advisers for 2024. This recognition is a testament to Andrew’s exceptional leadership, expertise, and dedication to providing outstanding financial advice.

We congratulate Andrew and the entire team on this well-deserved honor. It’s a reflection of our commitment to delivering exceptional service to our clients.

To view the full list of Australia’s Top 150 Financial Advisers, please visit The Australian’s website.

November 5, 2024
Jacqui Sherlock
In Media

The 50 Most Influential Financial Advisers in Australia Named

Andrew Sherlock, Sherlock Wealth CEO and Owner, has been named one of the 50 most influential financial advisers in Australia by trade publication Financial Standard in the FS Power50 guide.

Now in its 11th year, the FS Power50 comprises the 50 financial advisers who are deemed to be best at promoting the value of the financial advice profession, while providing outstanding service to their clients and the wider community.

Each year the list is shaped by the readers of Financial Standard and FS Advice – The Australian Journal of Financial Planning.

“In the making of this list, we defined ‘influential’ as individuals who have been, or continue to be, instrumental in shaping the future of the financial advice industry,” said Jamie Williamson, managing editor of Financial Standard.

“It’s become clear in recent years just how seriously the advice community takes the Power50 – they want to see a list of advisers they can stand behind each year, one that is truly representative of the industry. A list by advisers, for advisers.”

To date, the Power50 has amassed 267 alumni, and the 2024 FS Power50 adds another 15 advisers to this list.

The FS Power50 process begun with an open nominations process, which was vetted down to a group of 114 advisers who proceeded to the voting phase.

From here readers of Financial Standard and FS Advice voted, which was then weighted prior to determining the final 50.

“I am honoured to have been recognised by the advice community, our clients and our peers for my contributions to the industry and hope to continue having a positive impact in the years to come,” said Andrew.

Read on to find Andrew’s FS Power50 bio, or download the full 2024 FS Power50 Guide below.

Andrew’s motto is to “inspire people to better their lives, to restore their confidence when they need it and to contribute to humanity while I’m there.”

This passion extends to the animal kingdom as he’s a fierce advocate for native animals, championing the works of non-profit Australian Wildlife Conservancy.

A regular presenter on the conference circuit, you’ll also find Andrew sharing his expertise on podcasts, television and publications like Forbes. A natural leader and mentor, Andrew if a Top of the Table MDRT lifetime member.

READ THE FS POWER50 GUIDE HERE
CLICK HERE
October 21, 2024
Jacqui Sherlock
In Family, Financial Advice, Latest Updates, Money

Recognising Financial Abuse: How to Spot the Signs in your Friends and Family

Financial advisers help Australians with a wide range of financial issues during their lifetime, from budgeting to estate planning and everything in between. They also help Australians to have a more positive outlook, to feel more prepared and secure and to consider reaching out to other wealth professionals if they have a need.

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October 16, 2024
Jacqui Sherlock
In Uncategorized

Maximise Your Savings with these Essential Tax Tips

Nobody wants to pay more tax than neccessary.

We’ve compiled a comprehensive list of practical tips and advice to help you avoid this common mistake.

Seek Advice

These tax tips and action points cater to everyone; whether you’re seeking tax advice for your small business, for investment purposes or for you and your family, we encourage you to keep reading to discover what you should consider well in advance before the tax year ends.

However, seeking expert tax planning advice from qualified and experienced tax accountants, and advisers, is the best way to ensure that you are taking advantage of every available opportunity for your specific circumstances.

While there are certain regulatory requirements and obligations that must be met by all businesses and income earners in Australia, there are also steps you can take to help legally minimise the amount of tax that you or your business are liable to pay.

Of course, this is not an exhaustive list of all the possible ways to legally minimise your tax and prepare for the end of the financial year. Rather, it is a general compilation of the most common items to be considered.

Tax Tips for Businesses

  • Review Your Expenses: Ensure that all business-related expenses are documented and claimed. This includes utilities, rent, travel, and office supplies. Keeping thorough records can help you maximise your deductions. 
  • Invest in Depreciable Assets: Consider purchasing assets such as equipment or vehicles that can be depreciated over time. The immediate asset write-off threshold may apply, allowing you to claim a deduction for the cost of the asset. 
  • Prepay Expenses: Prepay some expenses, such as rent, insurance, and subscriptions, to bring forward deductions into the current financial year. 
  • Write Off Bad Debts: If you have any unrecoverable debts, write them off before the financial year ends. This can be claimed as a deduction and reduce your taxable income. 
  • Review Stock Valuation: Conduct a stocktake and write off any obsolete or damaged stock. This can reduce your taxable income by lowering your closing stock value. 
  • Pay Superannuation Early: Ensure all employee superannuation contributions are paid by the end of the financial year to claim a tax deduction. Early payments can also avoid penalties. 
  • Consider Small Business Concessions: Take advantage of small business tax concessions, including simplified depreciation rules and immediate deductions for certain start-up costs. 
  • Defer Income: If possible, defer income to the next financial year to reduce your taxable income for the current year. This can be particularly useful if you expect to be in a lower tax bracket next year. 
  • Review Your Business Structure: Evaluate whether your current business structure is the most tax-effective. Sometimes restructuring can provide tax benefits. 
  • Seek Professional Advice: Engage a tax professional to ensure you are not missing any deductions or opportunities for tax savings. They can provide tailored advice specific to your business circumstances. 

Tax Tips for Individuals and Families

  • Claim Work-Related Deductions: Ensure you claim all eligible work-related expenses, such as uniforms, tools, and professional development costs. Keep receipts and documentation to support your claims. 
  • Review Investment Deductions: Claim deductions for expenses related to investment properties, including interest on loans, maintenance, and property management fees. 
  • Prepay Interest on Investment Loans: Prepaying interest on investment loans can bring forward a tax deduction, helping to reduce your taxable income for the current year. 
  • Maximise Super Contributions: Consider making additional voluntary contributions to your superannuation. This can reduce your taxable income while boosting your retirement savings. 
  • Take Advantage of Government Rebates: Be aware of any government rebates and offsets available to you, such as the low-income tax offset or the private health insurance rebate. 
  • Charitable Donations: Donations to registered charities are tax-deductible. Ensure you keep receipts for any donations made. 
  • Keep Track of Medical Expenses: Although the medical expenses tax offset is being phased out, certain medical expenses may still be deductible. Check if any of your expenses qualify. 
  • Review Your Private Health Insurance: Avoid the Medicare levy surcharge by maintaining an appropriate level of private health insurance cover. 
  • Income Splitting: If possible, consider income splitting with your spouse to take advantage of lower tax brackets. This can be done through various legal means, such as family trusts. 
  • Seek Professional Advice: Engaging a tax professional can help you navigate complex tax laws and ensure you are not missing out on any deductions or opportunities to reduce your tax liability. 

There are many ways in which you can legally reduce the amount of tax you are liable to pay throughout the financial year. Reach out to our experienced financial advice team here to discuss how we can help you. 

This information does not take into account the objectives, financial situation or needs of any person. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation or needs. 

 

(Feedsy Exclusive) 

Disclaimer

The information provided in this communication has been issued by Sherlock Wealth Advisory Pty Ltd (AFSL 558532).

The information provided is general advice only and has not considered your financial circumstances, needs or objectives. This publication should be viewed as an additional resource, not as your sole source of information. Where you are considering the acquisition, or possible acquisition, of a particular financial product, you should obtain a Product Disclosure for the relevant product before you make any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. It is imperative that you seek advice from a registered professional financial adviser before making any investment decisions.

Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Sherlock Wealth Advisory Services Pty Ltd nor its related entities, guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution.

In a world full of choices,
this is why our clients chose us:

Over the years, we have come to rely on Sherlock Wealth to take care of all our financial affairs and to see Andrew as

Dr. Bruce Walker

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I have been a client of the Sherlocks for more than 40 years. The sound advice I have received from Andrew in relation to building wealth

Mark Worrall

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We wanted to express our enormous thanks to you and your team. First of all for your sage advice in terms of the

Trauma Claim

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Since becoming a Sherlock Wealth client, my wife Jacinta and I have never felt more than in control of our

Rob and Jacinta Jones

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Having busy lives, we truly value the advice and care that Andrew and the team at Sherlock Wealth provide with

Rachel and Brett Lunn

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I would say to anyone that you have to prioritise your financial affairs as an important part of your life

Jo Masters

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