COVID, finances, your financial planning What to look for when choosing a financial planner Based on an ABC report, almost 50% of Australian adults have unmet financial advice needs. More Australians need financial planning assistance but they are unsure how to select a prudent financial planner, particularly after the finding of the recent Bank Royal […]
Superannuation and personal insurance changes – Review your super Buying insurance through super has many advantages, but you need to make sure you are getting the right type of cover for your individual needs. Also, in some cases, you may be paying for nothing. Most super funds offer life insurance and total and permanent disability […]
When it comes time to investigate residential aged care for yourself, your partner, a parent or parents, or a relative, the search for a facility and how to pay for it can be quite daunting. The aged care system is complex, and decisions are often made in the midst of a health crisis. Factors such […]
August provided mixed economic news, with central banks, businesses and consumers remaining cautious. In a widely-reported speech, US Federal Reserve chair, Jerome Powell said there remained “much ground to cover” before he would consider lifting interest rates, sending stocks higher and bond yields lower. In Australia, shares and shareholders were boosted by a positive company […]
With the major banks offering 6 months term deposit rates of as little as 0.5% per annum, it is no wonder that many self-funded retirees are looking to derive dividend income from financially secure Australian public companies. Not only do investors historically receive a greater rate of return over the medium to long term but […]
There is no doubt that education costs in Australia increase exponentially year on year. The total estimated cost of education for a child starting school this year is, National Average (metropolitan areas) (1) Government 81,823 Catholic 140,433 Independent 340,882 However, if you look at our capital cities Sydney is most expensive followed closely by Melbourne. […]
In 2019 we advised that the amount of money in unclaimed superannuation exceeded $20 Billion. Pleasingly, this amount is down to $3.6 Billion. Whilst this reduction in the unclaimed balance is a massive improvement it still represents a significant amount of money that is not being managed in the best interest of the owner, the […]
Did you know that the maximum number of members of a Self Managed Superannuation Fund can have increased from 4 to 6 on 1 July 2021? Regularly I am asked the question “Should we as a family pool our superannuation resources and establish a Self Managed Superannuation Fund (SMSF)”? An SMSF commonly has two members, […]
Here is what is available COVID-19 Disaster PaymentThe COVID-19 disaster payment is available to eligible workers who can’t attend work or who have lost income because of a lockdown and don’t have access to appropriate paid leave entitlements. And, it only applies from the eighth day of lockdown. That is, there is nothing you can […]
In a recent tax case, the taxpayer claimed 100% of his home internet expense for the financial year but failed to keep contemporaneous records. The deduction was reduced to $50 by the ATO. The case went to the Administrative Appeals Tribunal (AAT). During the course of the dispute, the taxpayer provided a record of the […]