Changes to super, the bringing forward of tax cuts, and two lump sum payments to those on the Age Pension are just some of the Government’s proposed measures from the big spending 2020-21 Budget – released by Treasurer Josh Frydenberg on Tuesday 6 October 2020. There’s no doubt that this …
Despite what Hollywood would have you believe, it is not possible to rule from the grave. However, in Australia, you can exercise a great deal of control through a properly drafted Will and the use of testamentary trusts. Here, we get the lowdown on these powerful estate-planning mechanisms from Tara …
Are you over 60 and selling your home? If you have owned it for over 10 years you may be eligible to contribute up to $300,000 (or $600,000 per couple) to superannuation with the proceeds, where the earnings could be tax exempt. Why is it good to have money in …
The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception. While the worst of the pandemic is (hopefully) behind us, trustees still have difficult questions to ponder as they focus on how best to position their SMSF in 2020-21, as well as meet their annual regulatory obligations …
The HomeBuilder program has been announced to help drive economic activity across the residential construction sector by providing grants of $25,000 to eligible owner-occupiers for new home construction and substantial renovations. Support to build or renovate your home If you’re looking to build a new home, complete a knock-down rebuild …
You, or someone you know, may have had a change in circumstances and may need support. We have put together some information to help you navigate these uncertain times and to answer some frequently asked questions. Q: What is JobKeeper? The JobKeeper payment is a $1,500 (gross) fortnightly payment per …
You, or someone you know, may have had a change in circumstances and may need support. We have put together some information to help you navigate these uncertain times and to answer some frequently asked questions. Q: I am already a social security recipient already. Will my payment increase? You …
Yesterday I was invited to speak on ABC Radio Show Drive With Jules Schiller about joint bank accounts. The topic was triggered by an article about the declining use of joint bank accounts within relationships: 3 out of 4 married baby-boomer couples have a joint bank account, but only half …
According to this headline, 650 000 Australians have already filed their tax returns. It’s a record number, possibly caused by the tax cuts that were passed last week. The advantage for these early birds is that they will probably receive their refunds before the end of July, and if they …
Even the best budget can unravel if the right tools are not in place. Here we talk about how to stick to your budget. Give me the main points Keeping to a budget means keeping a tight rein on expenditure. Budgets that work are usually ‘balanced’ budgets (not ‘baked beans’ …
