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Testimonials

VANCAN

“The team at Salomone Accounts have always gone above and beyond. They make everything easy to understand, in a clear and concise way. They are a proactive team and always have time to answer my questions, however basic. Yes, you heard right…an accountant that is actually easy to speak to, and takes the worry out of managing our numbers. So we can focus on what we do best.”

 

Tara-Jay Rimmer
Director -The Van that Can Pty Ltd
www.thevanthatcan.com.au

Gordon Country Enterprises

“Joe has been amazing guiding us through the process of a start up business and then helping us strategise with the most tax effective way of amalgamating with a parent company. His communication and thoroughness is always on point and his personal touches, such as coming out and doing a personal inspection of the property just go to demonstrate his professionalism, dedication and warmth towards his clients. Whether you are a start up, individual or large commercial venture, we would have no hesitation in recommending Salomone Accountants.”

 

Sarah Gordon
Director – Gordon Country Enterprises Pty Ltd
www.gordoncountry.com.au

Ascent Wealth Management

“Joe and the team at Salomone Accountants have been a great support to my advice practice.  In the nine years we have worked together, Joe’s knowledge coupled with a very efficient process has ensured we have had good outcomes in the processing and lodgement of our returns.  We have also benefited by establishing a number of business structures with Joe’s assistance.  Each time we have needed something, Joe’s assistance has been professional and the process to implement has been seamless.  I have no hesitation in recommending Joe and his team to small business and individuals alike.”

 

Steve Nielsen
Director – Ascent Wealth Management Pty Ltd
www.ascentwm.com.au

“I find Joe a thorough and practical accountant, I have used Joe for my investment accounting & business advice requirement for the past 10years. Joe is prompt, easy to communicate with and always takes the time to listen & understand any requirements. I recommend Joe for both Personal & Business accounting services.”

 

Colin Smith
General Manager – SSS Australia

“Salomone Accountants were integral in the commencement of our business, 8 years ago, and have been working with us ever since, as our business grew.  Joe and the team have always been attentive to our needs and provide a highly professional service, allowing us to focus on the growth of the business”

 

Jonathan Crooke
Director – Seventh Circle Studio Pty Ltd

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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.