Non-commercial losses and the Commissioner’s safe harbour
New guidance from the ATO may allow you to claim a business loss you would otherwise have had to defer. If your business has been directly affected by floods, bushfires or COVID-19 lockdowns, you may be eligible for a refund of tax paid.
Your super checklist for EOFY
The lead up to 30 June can be a good time to maximise tax benefits that may be available to you inside super.
Certain contributions, which we cover below, may have the ability to reduce your taxable income, or see you pay less on investment earnings.
Economic update and market overview
The likelihood of rising borrowing costs also appeared to spook equity markets, which performed poorly over the month. Central banks are essentially being forced to tighten policy settings to combat rampant inflation, but risk an economic slowdown or recession if borrowing costs are raised too substantially. Corporate earnings growth could slow in this environment.
New opportunities to grow your Super from 1 July 2022
From 1 July 2022, there will be some changes made to super to make it easier for people to grow their retirement savings. These changes will create opportunities for both older and younger Australians, as well as low-income earners, by removing some of the barriers that currently exist in the super system.
Investment Market Outlook: Volatility Rises, Value Emerges
With war in Eastern Europe, inflation surging and Covid lockdowns inhibiting industrial production in parts of China, investment markets faced a rising tide of volatility over the past quarter.
All about Wills and Probate
Probate is the legal process that occurs when dealing with a loved one's will after their death. It can be difficult to know what’s involved with the process and the questions to ask.
Super changes that could affect you from 1 July 2022
The government has announced a number of changes to the super system could create opportunities for Australians of all ages. Here’s a rundown of what you need to know.
Should you merge your finances with your partner?
The pandemic has changed many aspects of our daily lives, and romance is no exception. While lengthy separations have led some relationships to end, other couples are choosing to move in together more quickly than they might have expected.
If you’re planning on living together, you might be wondering whether to merge your finances. Combining money is a big step for any couple, and not something that has to be tackled all at once.
Should I invest my home deposit?
After another year of double digit growth, many first-time buyers have been left shaking their heads in disbelief. Even those looking to upgrade the family home are having to stretch their budgets further than ever.
For many would-be buyers, the speed of house price growth is far outpacing their ability to save. It’s also outstripping wage growth by a significant margin.
2022 - 2023 Federal Budget breakdown
In an economy emerging from the pandemic, the Treasurer has confirmed an unemployment rate of 4% and an expected budget deficit of $78 billion for 2022–23. As international uncertainties add pressure on the cost of living, key measures in the Budget provide cost of living relief in the form of an increased Low and Middle Income Tax Offset, a one off $250 payment for welfare recipients and pensioners and a 6-month fuel excise relief.
Why being responsible can be rewarding
The days when ‘green’ investors were the ones who cycled to see their adviser and carried home their investment brochures in a hemp bag are long gone (if they ever existed). Responsible Investing is now the preferred approach for a growing base of investors.
Here’s why you need to consolidate your super now / What is ‘stapled’ super?
New super rules introduced in November of 2021 mean employees are now ‘stapled’ to their existing superannuation fund, unless they choose otherwise. That’s why it’s more important than ever to consolidate your super and take control of your retirement savings. Here’s what you need to know about the super stapling rules.
Everything you need to know about medical examinations for life insurance
When you take out an insurance policy, the provider will determine how much you’ll be required to pay in premiums.
This process, called underwriting, assesses the insurance risk, and usually requests information about occupation, medical history, pursuits, hobbies and financial situation. Essentially, it means you’ll only be paying the premiums that are required for the amount of cover you need.
Budget smarter with the 50/20/30 rule
New to budgeting? You may know how much money you make and have a rough idea of how much you spend. But do you know what you’re actually spending it on, or if your spending patterns will benefit you in the long run? The good news is, you don’t need complicated spreadsheets and formulas to get your personal finances in check.
The escalation in Ukraine tensions: Implications for investors
The last few days have seen a sharp escalation in the situation between Russia and Ukraine, with Russia recognising the independence of two regions in the Donbas area of eastern Ukraine controlled by Russian separatists and ordering Russian “peacekeeping” troops into the regions.
What you should know about creating your will and estate plan
If you want to protect your family and assets, it’s worth documenting what you’d like to happen if you can’t make your own decisions later in life or if you pass away.
What happens to superannuation when you break up?
Depending on the situation, you might get some of your ex partner’s super, or they may get some of yours. See what you need to know.
Reducing financial stress
This October marks the second Mental Health Month since the start of the COVID-19 pandemic. With so much time spent living in uncertainty, it’s a great reminder to check in on our own mental health and identify areas of stress that may be having a negative impact on our overall wellbeing. One challenge that many people are experiencing right now is financial stress.
Make it a goal to grow your super this year
There are a number of ways you can contribute more to your super, to take advantage of time and the magic of compound interest.
These include salary sacrificing, and a range of tax-deductible, spouse and downsizer contributions, as well as government co-contributions.
5 minutes for 5 days - get your finances in order
New Year’s resolutions are such a drag, right? Whether it’s fitness, family or finances, the best laid plans rarely last beyond the first week of January. Life has a habit of getting in the way, especially these days with so many demands on your time.
Instead of making ambitious resolutions you don’t have the time or energy to keep, try our personal finance challenge.