Financial advice just got cheaper

  • 25 October 2024
  • by BG Private
  • 1-minute read

There has been an important ruling that could lower the fees associated with seeking financial advice – including for clients of BG Private.

According to the new rules, the ATO allows clients to claim part of their initial financial advice fees as tax-deductible.

Although not all advice fees qualify for this deduction, fees associated with tax-related advice—like investment strategies and tax obligations—can now be deducted. This change could lead to significant savings, particularly for those pursuing comprehensive financial planning.

To help you understand your potential savings, your Financial Advisor will break down their total fee across the different components of your financial strategy.

If you have any questions or need further clarification, don’t hesitate to reach out to us.

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