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Joe Salomone, CPA – Director

B.Bus, Grad.Dip. (FP)

 

Joe Salomone is the founding member of Salomone Accountants. After gaining a Business degree majoring in Accounting from the Queensland University of Technology, Joe went on to pursue a Graduate Diploma in Financial Planning at the Securities Institute of Australia. Since then he has become a qualified CPA, and has over 20 years experience working in business services and taxation.

 

Joe specialises in assisting Small Business clients in the areas of taxation, financial accounts, tax planning and restructuring. He also has vast experience in assisting clients who have investment and rental properties and share investments.

 

Professional and Administrative Staff

 

Salomone Accountants is a flexible workplace employer. This flexibility allows staff the opportunity to fulfill a work/life balance which creates a happy work environment.

 

Investment has been made in the professional development of all staff at Salomone Accountants and the experienced staff are able to offer clients a friendly and professional approach. All staff endeavour to provide professional and accurate advice to clients in a timely manner.

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News

Managing risk in your SMSF

October 12, 2018

SMSFs provide the trustee autonomy and an increased opportunity to maximise your retirement savings. However, an investment strategy must be accompanied by a risk management plan should some of your investments come up short.

Consider the following risk management strategies:

Diversification
Diversification reduces risk by investing in many different assets including property, annuities and equities. By spreading your earnings across several investments you minimise the risks to your retirement nest egg that can occur if one investment suffers a loss or a disappointing return. Organise your target returns according to your asset class and establish the accepted variation range from this target. This allows you to track your investment portfolio and whether it is setting you on the right financial path.

Liquidity
If you tie up your money in assets like property, then you may run short on cash. It is important that you have cash to cover the costs of running your SMSF and in the case of a member’s total and permanent disablement. If you’re also forced to sell an asset to get this cash the market conditions may not be ideal, and you could receive a disappointing return because you need cash in a rush.