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In this month's market snapshot, we take a glimpse at what the market has been up to and what the key developments were for July 2021.
While every financial crisis is different, some investment rules are timeless. So, what are the lessons of the last 18 months?
Making additional personal contributions to superannuation is a great way to boost your retirement savings in a tax-effective way. But there are strict caps or limits on the amount you can contribute each year and stiff tax penalties for exceeding the limits.
As the new financial year gets underway, there are some big changes to superannuation that could add up to a welcome lift in your retirement savings.
In this month's market snapshot, we take a glimpse at what the market has been up to and what the key developments were for June 2021.
Fears of a resurgence in inflation has been the big topic of conversation among bond and sharemarket commentators lately, which may come as a surprise to many given that our rate of inflation is just 1.1 per cent.
Self-managed super funds (SMSFs) have emerged from a difficult year stronger than ever. Not only have balances been repaired after the initial market shock in the early days of COVID-19, but more young people and women are taking control of their retirement savings.
In this month's market snapshot, we take a glimpse at what the market has been up to and what the key developments were for May 2021.
The Federal Government recently announced an extension of the temporary reduction in superannuation minimum drawdown rates for a further year to 30 June 2022.
If you’ve owned an individual income protection or salary continuance policy in recent years, you may have seen your premiums increase as insurers struggled to cover their large losses on these products.
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.
Here’s a roundup of some of the key developments when it comes to tax.
In this month's market snapshot, we take a glimpse at what the market has been up to and what the key developments were for April 2021.
The ATO has recently released its annual statistical overview for self managed superannuation funds (SMSFs) the 2018/2019 financial year, providing key statistics and analysis of the SMSF sector.
Support for Australia’s businesses and our personal finances was at the heart of this year’s Federal Budget as the Morrison Government continues its attempts to strengthen the post-lockdown economy.
In his third and possibly last Budget before the next federal election, Treasurer Josh Frydenberg is counting on a new wave of spending to ensure Australia’s economic recovery maintains its momentum.
The ACNC has published a new best-practice guide for charities reporting on government revenue they receive.
Separation and divorce can be a challenging time, often made all the more difficult when you have to divide your assets. So how do you go about decoupling your superannuation?
For many people, the idea of managing and investing your own retirement savings is very appealing. But there is ongoing debate over whether running your own self-managed super fund (SMSF) is cost effective. So, what are the arguments for and against having your own fund?
In this month's market snapshot, we take a glimpse at what the market has been up to and what the key developments were for March 2021.
The recent sharp rise in bond rates may not be a big topic of conversation around the Sunday barbecue, but it has set pulses racing on financial markets amid talk of inflation and what that might mean for investors.
As we approach tax time, we also head into the season where scammers increase their activity – that is, looking to hoodwink small business and individuals alike. Scammers are becoming increasingly sophisticated, so it pays to be aware of what is real and what is fake.
As the Australian Taxation Office (ATO) turns its attention to businesses and individuals who have used COVID-related support programs, many taxpayers are likely to find themselves on the tax man’s radar.
From 1 July 2021, the concessional and non-concessional caps are scheduled to increase.
After spending their working life building retirement savings, many retirees are often reluctant to eat into their “nest egg” too quickly. This is understandable, given that we are living longer than previous generations and may need to pay for aged care and health costs later in life. But this cautious approach also means many retirees are living more frugally than they need to.
Given that money has the potential to be a source of conflict in relationships, it’s a now a good time to get in sync to ensure you are on track to achieving financial harmony.
In this month's market snapshot, we take a glimpse at what the market has been up to and what the key developments were for February 2021.
As the economy begins to get back on its feet, it’s time to get your business back on track and start preparing for this year’s tax time.
Like trees losing their leaves in autumn, why not take a leaf out of their book and choose this time of year to shed some of your own financial baggage.
Individuals and small business owners who have taken advantage of the government’s COVID-19 support programs will find themselves increasingly under the tax man’s microscope in coming months. This is just one of the key developments occurring in the world of tax at the moment.
In this month's market snapshot, we take a glimpse at what the market has been up to and what the key developments were for January 2021.
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 the economy starts to recover from COVID-19 shutdowns, some sectors may take longer than others to return to their normal operating capacity and some companies may never fully recover. That means there is still the chance that some employees could be made redundant.
With COVID-19 having a significant impact on traditional employment, many people are working as a contractor for the first time either by choice or necessity. It’s not just a lifestyle decision; from the tax and superannuation perspective, there are important differences between being an employee and a contractor.
At a time when many people have been focused on their family’s health and livelihood, having adequate life insurance has never been more important. Yet the gap between what we need and what we have, has been growing.
The ACNC has urged charities to take steps to prevent fraud and cybercrime.
The ACNC is urging charities with deductible-gift-recipient endorsement to check their registration details.
The Australian Institute of Company Directors annual NFP Governance and Performance Study reveals that many organisations’ future was under threat even before the challenges of COVID-19.
A common misconception about estate planning is that you should only worry about it when you are old. However, estate planning is one of the most important things you can do to protect yourself, your assets and your loved ones.
It was a year most of us would like to forget. And yet, some of the toughest lessons of 2020 had a silver lining.
We take a glimpse at what the market has been up to and what the key developments were for December 2020.
For many business owners, fear of incurring a Fringe Benefits Tax (FBT) bill has kept them from retraining and re-skilling their employees to perform different roles or activities within the business.
Just as we were recovering from the long drought and the worst bushfires on record, the global coronavirus pandemic took hold and changed everything.
Although individuals and small business owners are now enjoying welcome tax relief in the wake of some valuable tax changes, there is more on the horizon as the government seeks to reboot the Australian economy.
In summary The US election appears resolved despite Trump’s protests and avoidance of administration handover. Whilst this outcome was not unexpected, it didn’t result in the expected increased equity market volatility.
The traditional festive holiday season is likely to be a little different this year, but one thing is likely to remain the same – the temptation to spend and the post-Christmas budget hangover.
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.
Legislation was introduced into the Senate in September 2020 to expand the maximum number of members of a self-managed superannuation fund (SMSF) from 4 to 6. The intention is to allow greater flexibility for SMSFs, particularly for family groups.
In summary The US election appears resolved despite Trump’s protests and avoidance of administration handover. Whilst this outcome was not unexpected, it didn’t result in the expected increased equity market volatility.
Most Australians are only vaguely aware – or completely unaware – of the fact that credit-reporting agencies monitor their financial transactions. While most Australians don’t give much thought to what’s on their credit report, the credit score that’s based on the
With tax cuts and stimulus payments on the way, Treasurer Josh Frydenberg is urging us to open our wallets and spend to kick start the national economy. But if your personal balance sheet could do with a kick along, then saving and investing what you can also makes...
Adding a granny flat to your property sounds like a great idea. A property to rent out to generate some welcome extra income, or a home for adult children or mum and dad in their later years. But there are important tax and personal considerations to think about...
The COVID-19 pandemic is raising some interesting questions for small business employers in relation to their Fringe Benefit Tax (FBT) liabilities. With many employees working from home, common employee benefits are often not being supplied, while some employers are...
The Australian Institute of Company Directors and the Governance Institute of Australia have released a new report on the impact of COVID-19 on board practices. The report reveals insights into governance challenges in the current climate. Governance through a crisis:...
The Australian Securities & Investments Commission has issued an FAQ on accounting implications of clarified casual-employment rules. ASIC urged companies to consider whether they should provide for additional employee entitlements (including annual leave,...
The Australian Securities & Investments Commission has issued an FAQ on accounting implications of clarified casual-employment rules. ASIC urged companies to consider whether they should provide for additional employee entitlements (including annual leave,...
In summary September saw a break in the rally in global equity markets. Several factors contributed to this, including signs that the global recovery, while proceeding, is nevertheless slowing down. Growing concerns about prospects for fiscal stimulus in the US added...
This year has exposed investors to the end of a bull market and the start of a global recession, all caused by a totally unexpected global pandemic. The outlook for the global economy and investment markets remains uncertain until an effective vaccine is available....
Living through COVID-19 has brought many challenges and shifting priorities as we deal with the financial impacts of the pandemic, and that includes the issue of life insurance. On the one hand, the pandemic has highlighted the importance of life cover. On the other,...
Investing in property is a popular option for self managed superannuation funds (SMSF). Unlike retail funds, the members of an SMSF are the trustees, and make all the investment decisions. This can include investing in residential or commercial property. In deciding...