The end of the financial year will likely bring the usual wave of tax scams. Here’s what to watch for. The Federal Budget is behind us, and amid the celebrations over tax cuts (around $500 annually for low to middle income earners), now is the time to be mindful of scammers pretending to be from […]
Want to help boost your retirement savings while potentially saving on tax? Here are five smart super strategies to consider before the end of the financial year. 1. Add to your super – and claim a tax deduction This financial year, there are new rules about who can claim a deduction for personal (after tax) contributions […]
Be in control of your personal debt Household and personal debt in Australia is high but more of us are taking a sensible approach to debt management. Nationally, our household debt ratio is nudging 200%. On paper it means we owe twice as much in debt as we bring home in our pay packets each year. […]
Changes aimed at improving housing affordability have passed through parliament under new legislation. Government proposals around improving housing affordability in Australia were passed through parliament on 7 December 2017. As part of the changes, first home buyers will be given a tax concession through the ability to save for a home deposit inside super, while Australians aged 65 and […]
Younger generations should arguably be in a better position to self-fund retirement at the current super guarantee rate of 9.5% which is set to rise to 12% by 2025. But the sooner they start planning their transition to retirement (TTR), the better. Overview of TTR With transition to retirement (TTR) you can keep working while […]
Everyone makes mistakes during their investment lifetime; the trick is to avoid them when you can and learn from the ones you can’t. HAVE A PLAN Failing to plan for retirement and build up savings is one of the most common mistakes. Having adequate retirement funds can be undermined by unrealistic expectations about future lifestyle […]
If you want to repay your mortgage quickly and still have easy access to your additional repayments, an offset account may be worth using. What’s an offset account? An offset account is a transaction account that is linked to your home loan and the money you deposit in it offsets the loan balance before interest […]
De-stress mortgage De-stress mortgage: “Don’t sail out farther than you can row back.” This Danish saying is sound advice for anyone thinking of borrowing to buy a home, particularly now that interest rates are low and house prices are generally rising. According to a paper for the Centre of Policy Development and University of Canberra, Australians […]
Money steps: Using the same approach to managing day-to-day money can be applied to long-term investments. It was Carrie Bradshaw, of Sex and the City fame, who said: ‘I like my money where I can see it – hanging in my closet.’ While that might sound trite, it’s not far from the truth for many […]
