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Start the new financial year strong with this EOFY checklist

As the 2023-24 financial year draws to a close, we bring you a wrap up of important 1 July changes and some strategies to help put you in a strong position for the coming year.

Federal Budget 2024-25: What you need to know

The Labor Government’s 2024-25 Federal Budget was unveiled on 14 May. We look at how the Government plans to manage the cost of living crisis while also keeping inflation in check.

The tax implications of being made redundant

A redundancy payment can help lessen the sting of losing your job. These payments can sometimes be quite generous, so questions around tax are bound to come up.

The tax deduction not many people talk about

There’s been a lot of focus on the rejigged stage 3 tax cuts. But there’s another way to potentially reduce your taxes, and it receives comparatively little attention.

Tax time mistakes every investor should avoid

Markets have seen an influx of new investors over the last few years, but many Australians remain painfully unaware of some of the tax rules that apply.

The ins and outs of the Age Pension

The Age Pension is an important source of income for millions of Australian retirees. But there are plenty of rules you’ll need to be aware of before you apply.

Why investing in your child’s name can be a bad idea

If you’re looking to invest for your child, you should know there can be major drawbacks to doing so in their name.

The 1 July tax and super changes you should know about

A lot has changed in the tax and super space this new financial year. Here’s a rundown of some of the most important items you should know about.

Are you missing out on Age Pension payments?

We look at some of the reasons your pension payments might be falling short and what you can do about it.

5 ideas to save on tax before 30 June

Tax time is often stressful, but with a few smart strategies you may be able to minimise your tax burden and give yourself a nice little refund at the same time.

2023-24 Budget: A wrap up of the proposed measures

On Tuesday 9 May, Treasurer Jim Chalmers handed down the 2023-24 Federal Budget. Read about what the proposed measures could mean for you.

Q&A: The cost of retirement is going up, what can I do about it?

If you’re in the lead up to retirement, you may be wondering what you can do to help keep your retirement plans on track. Read on for some ideas.

2022-23 Budget: A wrap up of the proposed measures

On 25 October 2022, Treasurer Jim Chalmers handed down an updated 2022-23 Federal Budget. Read about what these proposed measures could mean for you.

7 tips on dealing with fluctuating income

Being self-employed can come with its challenges. If you have ‘lumpy’ income to deal with, here are a few tips on how to manage this income in good times, and bad.

A round up of 1 July changes and what they mean

Read about some of the key changes to super, tax, and social security measures as the new financial year gets underway.

5 important considerations for 2021-22 EOFY

EOFY is just around the corner. Learn 5 things that may help to reduce your personal income tax and/or provide for your retirement.

2022 Budget: The ‘Stronger Future For All Australians’ proposed measures

On 29 March 2022, Treasurer Josh Frydenberg delivered the 2022-23 Federal Budget. We provide an overview of key proposed policy measures that may be relevant to you and your personal finances.

High-income earners: Division 293 tax

When it comes to tax on concessional contributions, some high-income earners may have to pay an additional 15% tax (Division 293 tax). In this article, we provide a brief overview of Division 293 tax.

Tax deductions for the financial year ahead

When it comes to deductions, it’s vital to understand what you can (and can’t) claim and the appropriate evidence needed to claim. In this article, we explore deductions for the financial year ahead.

Personal finances: Taking stock & making changes

A new financial year can be an opportune time to take stock of your overall personal finances and make changes if needed. In this article, we provide a list of questions that may help you with this.

1 July 2021: New rates, thresholds, & legislation

The commencement of a new financial year can see rates and thresholds increase (or decrease) and legislation take effect. In this article, we provide important information on changes from 1 July 2021.

Financial wellbeing: Financial literacy quiz

When it comes to achieving financial wellbeing, financial literacy plays a key role. In this article, we have put together a quiz to test your knowledge across various areas of your personal finances.

EOFY planning for the 2020-21 financial year

With 30 June coming up, please consider putting aside time to review your personal finances—and take action, prior to this date, if appropriate. In this article, we provide EOFY planning tips.

2021 Budget: The ‘Securing Australia’s Recovery’ proposed measures

Treasurer Josh Frydenberg delivered the 2021-22 Federal Budget on 11 May 2021. We provide an overview of several key proposed policy measures that may be relevant to you.

Individual taxation: Tax offsets (or rebates)

The income you receive will often be assessable for income tax purposes. However, there will also be instances where the tax payable may be reduced. In this article, we discuss several tax offsets.

Legislative update: Taxation & social security

The Parliament recently debated many important pieces of proposed legislation. In this article, we provide a summary of the main aspects of these now legislated taxation and social security Bills.

Super re-contribution strategy explained

Super benefits may comprise of two components: a tax-free and taxable (taxed element) component. In this article, we discuss a re-contribution strategy—one way to increase the tax-free component.

Taxation update: Personal Income Tax Plan

In the 2020-21 Federal Budget, proposed changes to individual taxation were announced. In this article, we provide an overview of these now legislated changes and what they may mean for you.

2020 Budget: The ‘COVID-19 Recovery' proposed measures

Treasurer Josh Frydenberg delivered the 2020-21 Federal Budget on 6 October 2020. We provide you with an overview of the main proposed measures that may be relevant to you and your personal finances.

Deductions & work-related home office expenses

According to ATO data, for the 2017-18 financial year, 8,950,205 individuals claimed $2,424 on average in work-related expenses. In this article, we discuss work-related home office expenses.

Super engaged & well-informed: Annual statements

The receipt and review of your annual super statement can assist you to stay actively engaged with, and well-informed on, your super. In this article, we provide a review checklist to help with this.

2020 ‘mini-budget’: An economic & fiscal update

The Treasurer delivered a ‘mini-budget’ on 23 July 2020—an economic and fiscal update. In this article, we provide a summary of the update, inclusive of the main personal finance-related points.

1 July 2020: Change in the new financial year

A new financial year can mean change—thresholds and rates can increase (or decrease), and legislation can take effect. In this article, we provide information on change occurring from 1 July 2020.

EOFY planning tips: Give your finances a boost

With the end of financial year on the horizon, it’s important to review areas of our personal finances, and take action if required, before 30 June. In this article, we discuss EOFY planning tips.

COVID-19 economic response: Businesses

Economic and financial issues continue to emerge from the COVID-19 pandemic. In this article, we provide information on the Government’s support of businesses in this difficult time.

Retirement and the transfer balance cap (TBC)

A limit applies to the amount of super benefits you can transfer from accumulation phase to retirement phase to support an account-based pension. In this article, we discuss the transfer balance cap.

New Year’s resolutions: Habit formation & change

A resolution is a firm decision to do or not to do something. In this article, we discuss New Year’s resolutions, and why it can be challenging to keep these resolutions (and resolutions generally).

Past, present, future: Legislative changes (Part 2)

Change is inevitable. In this article, we cover legislative changes to the Higher Education Loan Program, the Farm Household Allowance, the Paid Parental Leave Scheme, and overseas welfare recipients.

Past, present, future: Legislative changes (Part 1)

Change is inevitable. In this article, we cover legislative changes to the PBS, redundancy payments, salary sacrificing arrangements, and self-managed super funds (NALI and LRBAs).

Tax refunds: Low and middle income tax offset (LMITO)

With a recently legislated Bill, many of us may have seen or are expecting to see a larger tax refund or smaller debt regarding our 2018-19 tax return. In this article, we explore LMITO, and tax refunds.

1 July 2019: New financial year, new state of play

When it ticks over to a new financial year, often existing rates and thresholds increase, and new legislative instruments take effect. In this article, we discuss the state of play from 1 July 2019.

Legislative update (Acts): To be, or not to be… (Part 2)

Many Bills managed to become Acts before the dissolution of parliament. In this article, we look at several of these pertaining to social security, superannuation and taxation.

Legislative update (Bills): To be, or not to be… (Part 1)

Many Bills lapsed following the dissolution of parliament ahead of the federal election. In this article, we look at several of these pertaining to employment, social security and superannuation.

EOFY planning tips: Fine-tuning your personal finances

As we approach the end of financial year (EOFY), this can be an opportune time to do some fine-tuning in areas of your personal finances. In this article, we provide EOFY planning tips.

2019 Budget: The ‘Back in Black, Pre-Election’ Proposed Measures

Treasurer Josh Frydenberg delivered the 2019-20 Federal Budget on 2 April 2019. We provide you with a summary of the main proposed measures that may be relevant to you and your personal finances.

Household finances: Personal financial statements

Proper, ongoing management accounting is crucial for running a successful, long-term business. This is the same for your personal accounting. In this article, we explore personal financial statements.

Update: Recent legislative changes

Several proposals regarding small and medium businesses, primary producers and farmers, consumers, aged care and education have recently been legislated. In this article, we unpack these for you.

Your 2019 financial health check

With 2019 here, it’s time to kick-start your personal finances for the year ahead. In this article, we provide you with a financial checklist to help you take stock of your personal circumstances.

Tax refunds and investing in yourself

The most important investment you can make is in yourself.” (Warren Buffett). In this article, we explore this quote within the context of helpful spending suggestions for making the most of your tax refund this year; however, it also has broader application regarding how you may wish to approach life in general.

Deductions and work-related self-education expenses

Each year, the ATO releases guidance on what they will be closely monitoring when tax returns are lodged. Claiming deductions for work-related self-education expenses is a regular area of focus for the ATO – this year is no exception. As such, we discuss the ins and outs of this type of work-related expense.

2018-19 financial year: Top 10 legislative updates

We are now into the 2018-19 financial year; there are several finalised (as well as pending) legislative updates that are due to take effect either from 1 July or later in the year. In this article, we briefly touch on the top 10 that may be relevant to your financial situation, goals and objectives.

EOFY planning tips: 3, 2, 1... Lift-off!

The end of the financial year is nearly upon us. Where has the year gone? In this article, we discuss several end of financial year planning tips that you may wish to consider prior to 30 June – they may help in terms of minimising your tax liabilities and making the most of the money you earn.

2018 Budget: Unwrapping the ‘Christmas in May’ proposed measures

Treasurer Scott Morrison delivered the 2018-19 Federal Budget on 8 May 2018. We provide you with a summary of the main proposed measures that may be relevant to you and your personal finances.

Residential investment properties: Income-generation considerations

Residential investment properties are assets purchased to achieve an investment objective, and their acquisition is based on financial benefit. Income-generation is an important part of the rate of return equation. As such, we explore some considerations regarding attraction and retention of tenants.

Update: 2017 Budget ‘housing affordability’ proposed measures

The 2017 Budget introduced many proposed measures aimed at addressing the issue of housing affordability and several of these are now law. We will review the new laws and how they relate to a residential property investor, retirees wishing to downsize or a prospective first homebuyer.

Tax time and deductions: Work-related expenses

Whether you prepare your tax return yourself, or use a registered tax agent, it’s important to get your deductions right. In this article, we discuss several of the most common work-related expenses that you may be eligible to claim.

1 July 2017 – New financial year, new rules

The new financial year has ushered in many legislative changes when it comes to personal finances. These are most noticeable in superannuation, but also impact other areas. Read more about these changes and how they may affect you.

EOFY planning: Tax and superannuation strategies

The end of financial year is close. In this article, we look at end of financial year planning strategies that may be worth considering, when it comes to tax and superannuation.

2017 Budget: Fairness, opportunity and security

The 2017-18 Federal Budget delivered on the 9 May 2017 was packed with several already anticipated moves, whilst also delivering a few surprises. In this article, we provide a summary of the main announcements that may affect you.

Small business CGT concessions

If you are considering selling a small business or the assets it uses, you may be eligible for a range of CGT concessions to help reduce the capital gains tax associated with the sale. We discuss the several concessions that may be available to you.

Your guide to becoming a Philanthropist

There is a common misconception that in order to give you need to be wealthy, and that the only thing you can give is money. But the truth is that there are many different financial and non-financial ways that you can give to others. See how you can bring philanthropy into your life and make a real difference.

2016 Federal Budget Overview - How it affects your family and your wallet.

The 2016 Federal Budget may impact you more than you think, mainly because your tax dollars go towards making it happen, but also because changes were announced that affect nearly every Australian.

Get a head start - 5 things you can do now to plan for financial year end

Tax time can be a breeze for some and a nightmare for others. As we are just a few months away from the end of financial year, now is the perfect time to organise your financial affairs with our end of financial year planning tips!

Top 10 Financial To-Dos

It’s nearly time to sign off from work and start the holidays. Give yourself a stress-free vacation knowing that your finances are taken care of by ticking off these financial ‘to-dos’. 

Don’t take a gamble: put a plan in place.

With so many decisions to make in life, we often forget to plan. But certain events are too important to gamble with - have you planned for the things that matter? 

Smart Things To Do With Your Tax Refund

Have you spent your tax refund yet or are you planning to? There can be a number of worthwhile options when it comes to spending or investing your tax refund. You might utilise a couple of different ideas. We explore a few.

Parents Returning to Work

There are many things to consider when returning to work after caring for young ones. There are both financial and non-financial considerations. This article explores the important things that need to be considered.

What You Need to Know About Salary Sacrifice

You may have heard of the term salary sacrifice before but are not sure what it means or how it works? In this article we take a look at salary sacrifice in more detail as it relates to superannuation.

‘Bob The Builder’ Budget – What’s in it for you?

The 2015 Federal Budget was relatively tame, with a big focus on creating jobs and stimulating economic growth. Our article looks at what’s in it for you. From the changes for the young and unemployed, for families, business owners, to the over 50's and the already retired.

Tax time basics – time to get sorted pre 30 June!

The end of another financial year is fast approaching and now is a great time to think about the ways you can build and protect your wealth. Here are some great ideas in the lead up to 30 June.

Receiving a Redundancy?

The restructure of a business may lead to a reduction in staff numbers with certain positions being made redundant. Most people whose position is made redundant find it a very difficult time to deal with.

The Art of Giving

The Christmas season - a time for giving, is fast approaching. Donating to charity is a wonderful way to support the wider community and those in need. This article takes a look at the ins and outs of donating to charity.

Are you due a $500 Super Refund?

If you’re earning less than $37,000pa and you or your employer make concessional (before-tax) contributions to your superannuation fund then you may be eligible for a refund of up to $500pa. Our article explains how.

Ownership - Joint Tenants Vs Tenants in Common

There are fundamental differences between Joint Tenants VS Tenants in Common, we review the importance of getting it right when purchasing assets with other people.

Franking Credits – An IOU From The Tax Office

In this article we explore the concept of imputation credits, also known as franking credits and how they can benefit Australian investors.

Jargon Buster – Federal Budget Edition

You don’t need to be an economic whiz to understand the Federal Budget, just take a quick look at our “Jargon Buster – Federal Budget Edition” for explanation of key terminology used by politicians, economists and the media when talking about the budget.

Australian Federal Budget 2014

The Treasurer Joe Hockey announced the toughest Federal Budget since 1996 with the tightening of the nation’s belt and a focus on cost cutting to lower the nation’s $49.9 billion deficit. The budget measures announced propose a reduction in the deficit next year to $29.8 billion and a gradual decrease over the next 3 years following to an estimated $2.8 billion in 2017/18.

Stop Horsing around - Tax Time Tips

As it has been said, there are two certainties in life – Death and Taxes. Death can be a little out of our control, however taxes can be something that we can proactively make a difference with. Kerry Packer was clear on tax minimisation...

The Australian Federal Budget Explained

The Australia Federal Budget is a hot topic at the moment and this article is a timely discussion explaining why the Australian Government has a federal budget, what it is designed to do and how it is implemented.

Tax Time Checklist

With the end of the financial year having just passed, it means it's now time to get ready to lodge your 2012/13 tax return! This article provides our top tips to help you prepare and get the most from your 2012/13 tax return.

EOFY Planning

If you feel like you’ve run out of time to get your affairs in order, the good news is there’s a few considerations which can help minimise your tax, and make the most of the money you earn.

The 2013 Federal Budget

This year’s Federal Budget has been quoted as the Treasuer’s Swan Song. This article will briefly review the main points within the Budget.

From Proposal to Law

This article takes a brief look into what is actually involved in the Federal Parliamentary Process and the steps that need to be taken to make a proposal into law.

Changes to First Home Owners Grant

As of the 30th September 2012 the first home owner grant for established properties will end. This will be replaced by the New Homes Scheme from 1 October 2012.

Financial assistance for parents

Becoming a parent leads to a range of new financial commitments and challenges. Spending patterns will change, as will your financial objectives.

Tax Planning

With the end of the financial year approaching, it’s worth revisiting whether there is anything else you can do to proactively minimise your tax liabilities.

The 2012 Robin Hood Federal Budget

If you missed the Budget, we have a summary for you, it has been described as taking from the rich and giving to the poor.

Why bother planning money?

If you do have future financial goals, such as, retirement, buying a house, paying off your mortgage or buying a car or boat, then planning can certainly help achieve such goals in a timely and effective way.

Hi Mum and Dad - Can I have some money?

Although some parents are dead against it, many like the idea of giving their kids a bit of assistance to get started into adulthood. Regardless of what you look at, the earlier you start, the easier it will be.

An insane payrise

Before you ask for your next payrise, or receive your next payrise, ask yourself “is this going to be just another insane payrise?” So what makes for an “insane payrise”?

Will Henry, or the Budget, Change Your Financial Future? Probably not

The Henry Report into the tax system is out, as well as the Government delivered their Budget for 2010. Taking a step back from the detail, one thing is guaranteed – our financial system will keep changing.

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