There’s good news for first home buyers. The First Home Super Saver (FHSS) scheme which allows you to save for your deposit in your super account, is increasing its maximum release to $50,000. How it works is a little complicated, but we’re here to guide you through the steps. Here’s what you need to know. … Read more
Review your investments regularly to make sure you’re on track to reach your financial goals and you’re comfortable with the investment risks. Find out how to review your investments’ performance and what to do if you’re not getting the returns you expect. Monitor your investments regularly How often you review your investments will depend on: … Read more
A ‘transition to retirement’ (TTR) strategy lets you access some of your super and keep working. Setting this up can be complicated, so contact your super fund or financial adviser for advice. How transition to retirement works If you’ve reached your preservation age (between 55 and 60) and still working, you can use a TTR strategy … Read more
Find out how to save money every day and make a savings plan to stay on track. Separate and automate your savings An online savings account is a great way to grow your money faster. Unlike a transaction account, you can’t spend money directly from a savings account, so it’s harder to dip into your savings. Automate … Read more
Navigating the aged care system can be complex, so it’s best to plan ahead. Plan ahead for aged care Our ability to live independently can be suddenly compromised, especially as we get older. You never know when an accident or sudden illness could mean you or your partner require assistance to continue living at home, … Read more
What are interest rates? The interest rate is the amount a borrower pays for borrowing money from a lender, which is why it’s often referred to as the cost of borrowing. Conversely, the interest rate is also the amount earned on money deposited into a bank or financial institution, also known as the rate of … Read more
When purchasing an investment property, there are a number of factors that could increase or reduce your potential return on investment. In this case it’s not just location, location, location. ROI on an investment property When considering a property for investment purposes, the most important question to ask is ‘will be attractive to tenants?’. But … Read more
Australians are leaving capital cities in droves in a phenomenon being referred to as ‘The Great Relocation’. However, there’s a lot to consider beyond the obvious appeal of waking up to the laughter of kookaburras or enjoying a long walk on the beach. The terms ‘sea change’ or ‘tree change’ have been around for a … Read more
With the end of the financial year approaching, it’s a good time to review your personal balance sheet. If it’s not as healthy as you would like, perhaps it’s time to do a little budget repair of your own. Budgeting for success in 4 easy steps Just as governments need to set policy objectives and … Read more
The Australian Taxation Office (ATO) has today announced four key focus areas for Tax Time 2022. The ATO will be focusing on: record-keeping work-related expenses rental property income and deductions, and capital gains from crypto assets, property, and shares. These ATO priority areas will ensure that there is an appropriate level of scrutiny on correct … Read more
This time of year, people’s thoughts start turning to their tax return, but it can also be a good time to set things up so you don’t pay more tax than required next financial year. Simply talking to your employer about setting up an arrangement to “sacrifice” some of your pre-tax salary could potentially lower … Read more
It’s tempting to put price above everything else when choosing insurance for your property. However, whether you’ve just taken out a new mortgage or are hunting for a better deal, making sure you have enough of the right sort of cover is just as important. Here are the main insurance points to consider when comparing … Read more