It’s been a year of change like no other and that extends to tax and superannuation. As the end of the financial year approaches, now is a good time to check some new and not so new ways to reduce tax and boost your savings. With so many of us confined to our homes over […]
As anyone who has joined the weekend crowd at Bunnings knows, Australians love DIY. And that same can-do spirit helps explain why 1.1 million Aussies choose to take control of their retirement savings with a self-managed superannuation fund (SMSF). As well as control, investment choice is a key reason for having an SMSF. As an […]
After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax. With the Reserve Bank reducing interest rates to record lows and not anticipating a rise until 2024, it’s more […]
Tax cuts proposed in the recent Federal Budget were passed in parliament on Friday 9 October, and you might see some of the benefits before Christmas. The government has brought forward tax cuts originally planned for 1 July 2022 and backdated them to 1 July 2020. Plus, low and middle-income earners are still able […]
The COVID-19 pandemic has had a profound impact on Australia’s health system, community and economy. The Government has provided $257 billion in support to cushion the economic impact of COVID-19. In doing so, the Treasurer had the unenviable task of revealing the Budget deficit will increase to $213.7 billion this year. The focus […]
Whether you breeze through tax time or dread the extra admin, receiving a tax refund makes the effort worthwhile. For many of us, getting a financial boost will be even more welcome this year, and you might be looking around for the best ways to use it. These simple actions can help you figure out […]
Ok we get it, knowing where to turn to for financial advice can be confusing sometimes! Financial planners and financial counsellors are both types of financial experts, so which one is right for you? To answer this question, start by considering why you’re seeking financial advice. Is it to improve your financial wellbeing? Plan for retirement? Manage […]
Financial year 2019-20 is now behind us and there’s nothing like closing a chapter to inspire thoughts of a fresh start. But global challenges persist: Australia is officially in a recession while also bracing for a post-Job Keeper economy in September. While it’s impossible to anticipate future changes to the global economy, there’s plenty you […]
The end of financial year on 30 June is a good time to take stock and get your finances in order. Being prepared, reviewing your super contributions and submitting your return on time are good policies every year, but the shadow of COVID-19 (coronavirus) means many of us face unexpected pressures in a changing […]
It may not be something you think about much. It may even make you uncomfortable to examine the way you manage money and think about whether you’d be able to cope if you suffer a significant financial setback. But your financial wellbeing can impact every area of your life, so it’s worth taking the time […]