Month: December 2023

Chances are, buying a home will be the biggest, most expensive and most exciting purchase you’ll make during your life. Saving a healthy deposit is a good start, but if you’re like most Australians, you’ll need to take out a home loan to help fund your purchase. Here, we explain how different home loans work … Read more

Catch up on your super If you’ve had an irregular or interrupted income in the past, you might’ve missed out on opportunities to contribute to super. If you don’t fully utilise your concessional cap, and you’re eligible, you may be able to make ‘catch up’ on concessional contributions. What is a ‘catch-up’ concessional contribution? It used … Read more

Have a savings goal and budget It’s much easier to be a good saver if you have a goal in mind. It might be a holiday, a house deposit, or just a rainy day fund. To work out the amount you’ll need, be realistic about what you can afford to save each week, fortnight or … Read more

Managing your money doesn’t have to be stressful. By breaking down your goals and establishing good habits you can work towards financial wellbeing. With one in four Australians reporting more financial stress after COVID1, it’s no surprise many of us are concerned about the future. Between mounting bills, unexpected expenses and a lack of understanding … Read more

Most Australians want to share their wealth with the next generation but are unsure how to transfer that wealth and need help to plan for an effective transfer. Financial advisers are well-placed to meet those needs, according to the findings of a new report from Fidelity International and independent research firm, MYMAVINS. To help financial … Read more

Many people assume there is no tax payable on super benefits received after someone passes away, but that’s not always the case. Whether or not tax is paid on a super death benefit depends on the beneficiary’s relationship with the deceased. Although some beneficiaries receive their money tax-free, others can find themselves paying significant amounts … Read more

Could you cope if you needed instant access to money during an emergency? Learn simple ways to create savings for times when life throws you a curve ball. Many expenses and changes in life can be planned, like buying a house, going on holiday, picking up groceries or having a baby. But there can be … Read more

How much tax you pay on retirement income depends on your age and the type of income stream. For most people, an income stream from superannuation will be tax-free from age 60. How super income streams are taxed Types of super income streams Income from super can be an: account-based pension — a series of regular … Read more

Borrowing to invest, also known as gearing or leverage, is a risky business. While you get bigger returns when markets go up, it leads to larger losses when markets fall. You still have to repay the investment loan and interest, even if your investment falls in value. Borrowing to invest is a high-risk strategy for … Read more

If your partner is a low-income earner, working part-time, or currently unemployed, adding to their super could benefit you both financially. Your partner might be accumulating little or no super at all to fund their retirement if they’re not a big-income earner, or they’re out of work or working less hours. If you’d like to … Read more

Withdrawing part of your superannuation fund balance then paying it back into the account, known as a recontribution strategy, may sound a little strange but it could deliver a number of benefits including reducing tax and helping to manage super balances between you and your spouse. Your super is made up of tax-free and taxable … Read more

Christmas is a time for giving and it’s so easy to get caught up in the joys of the festive season and lose track of how much you are spending. Fortunately, there are a few tried and true strategies to manage your money to see you through the silly season into the New Year and … Read more