FIVE Important Financial Matters Expatriates Need to Consider.
In this video, James Marshall, Financial Adviser explores FIVE important financial matters expatriates need to consider.
We help executives, professionals and business owners in the mining and resources business sectors to plan and take control of their financial life so they may be personally and professionally successful.
We deliver carefully considered and complete strategies for creating, protecting and growing wealth so you can focus on your personal or professional priorities.
To align with your goals and ideal outcomes, we consider your existing financial position, lifestyle goals, tax efficiencies, investment timeframes, risk tolerance and need for access to investments.
We have specialised knowledge of Executive Share Scheme (ESS).
Through Brett Cribb and James Marshall, who are both highly qualified financial planners, Stratus Financial Group is uniquely positioned to deliver specialised services to the mining and resources industry.
Brett Cribb is a qualified financial planner and a qualified mining engineer with 30-years’ experience, including over a decade working as an underground mine manager for Mount Isa Mines (now Glencore). Brett remains active in mining and resources circles and as founder of Resources Unearthed, established an information hub for mining and resources personnel in Australia and around the world.
For the better part of his career, James Marshall’s focus has been advising mining and resources industry clients. He interprets often-complex financial matters to develop and implement financial plans that directly align with the needs and character of the mining and resources industries.
In this video, James Marshall, Financial Adviser explores FIVE important financial matters expatriates need to consider.
Prior to our involvement with his affairs and following his unexpected death, our client had inadvertently created a devastating financial legacy that would take years to sort out and cost his estate hundreds of thousands of dollars to resolve. The situation had arisen in part because he received poor advice concerning a very large contribution…
Prepared for mining and resources executives and employees who have an Executive Share Scheme (ESS) as part of their salary package, this document provides an insight into the nature of ESS. We aim to create an awareness of the inherent complexity involved in managing an ESS, the requirement for constant review and the high probability…
For recipients of a past, current or future executive share scheme living in Australia or overseas, this video summarises key considerations as well as why you need specialist advice to make the most of your ESS: Vesting and the crucial decision about what you should do with newly vested shares; The implications of multiple tax…
Most executives in industries that include mining and resources would agree that the opportunity to live and work overseas – whether permanently or temporarily – is an exciting part of their career. Many may not be aware, however, of the implications for their executive share scheme (ESS) of living in different tax jurisdictions. Multi-jurisdictional taxation,…
Executives who hold a large proportion of their overall wealth in an executive share scheme (ESS) need to be aware of the potential disadvantages of being in a ‘top heavy’ financial position. For executives whose ESS may account for the majority of their wealth, it is important to understand the risks and implications associated with…
The share market is nothing short of a roller coaster ride and investors are holding on tight. When it comes to mining and resources companies some share prices are holding their own so far, but others are well down. So, what does this mean for Executive Share Schemes (ESS)? How would your personal wealth and…
The Australian Prudential Regulatory Authority (APRA) recently announced a range of measures to income protection that aims to sustain this important insurance. Here I summarise why these changes are SO important, and why high-income earners and self-employed business owners in industries that include mining and resources need to act NOW to benefit from favourable definitions that will soon be removed.…
In this series of articles written for Resources Unearthed, we explore key issues that business owners in mining and resources need to consider when they want out, and importantly, why they’ll need a professional advice team to handle what are typically highly complex and diverse issues across legal, tax, accounting and personal financial planning priorities.…
Failing to keep accurate records of your executive share scheme (ESS) shares could see you paying way too much tax. It is important to understand that as a recipient of shares or options under an executive/employee share scheme, you are responsible for understanding and properly managing the tax implications. Failure to do so can result…
Establishing your tax residency status should be a top priority if you are planning to live and work in the United States.Tax processes in the USA (and other overseas) jurisdictions are highly complex and there will be major financial consequences if you get your tax residency wrong, so you will need specialised advice. Over and…
We know that mining and resources business owners work long hours, often in complex environments, to build successful businesses. As a consequence, it is common for them to overlook important business issues that can have significant implications on both the business and their own personal wealth.
Building wealth effectively within superannuation is an important consideration for mining and resources personnel, particularly when a change in super legislation may be of benefit. 2018/19 is the first financial year you may be able to boost your superannuation balance by carrying forward unused superannuation concessional contributions cap amounts.
Your life as a mining and resources professional will always be busy but as the end of financial year (EoFY) approaches, it could be highly beneficial for you to stop and take stock of your financial situation, goals and objectives, and do any necessary fine-tuning before June 30. My EoFY planning tips for mining and resources…
If you are a business owner or are planning to transition from employee to employer in mining and resources, then this article is for you.
For absent property investors living overseas and investing in property back home in Australia, there is significant risk of paying too much for properties that can fail to live up to their purchase price or longer-term return on investment.
Are you currently living and working in another country or could your job take you overseas in the near future? If you are an executive, professional or business owner in mining and resources who is spending 12 months or more living an expatriate life, this series of articles is for you. Over the next four weeks,…
Whether you’re just starting out as a professional in mining and resources, or have been well established over the last decade, even the slightest surplus income can make a difference to your overall financial position.
How to understand the after-tax value of executive share scheme holdings is a common challenge for the mining and resources executives I meet.
Executive Share Schemes can be extremely complex, but effective management by an experienced professional can help you make the most of this wealth creation opportunity.
Executive share schemes (ESS) can be an effective way to accumulate wealth, however each vesting period gives rise to a number of considerations, each with different consequences. In Australia and in other countries, the shares awarded under an executive share scheme have a taxing point at the time of vesting to an employee. Regardless of…
For many mining and resources professionals, relocation is often a consequence of progressing your career path. Purchasing a property in your new town or city may form part of your personal wealth accumulation strategy.
Many mining and resources executives in executive share schemes (ESS) feel they are paying too much tax, and sometimes they are.
Not only did we see significant falling commodity prices in 2015, but a World Bank analysis expected 37 out of 46 commodities to drop further in price in 2016 1 . Prices did rise during 2016, but if they slump again, the value of the shares in your Executive Share Scheme (ESS) may drop dramatically. Over the…