Insights

Career moves to help you get ahead financially

Career moves to help you get ahead financially

If you are trying to get ahead financially, whether you are coming up with a deposit for your first home, focussed on paying down a mortgage, or working towards any other financial goals, budgeting and being able to save is critical, but as well as minimising your spending, a great

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Are your adult children ready for the wealth transfer?

Are your adult children ready for the wealth transfer?

The inheritance wave is building but most people are unprepared for the ride Transfers of accumulated wealth from one generation to the next are part and parcel of everyday life. But the next 20 to 30 years will see the biggest intergenerational wealth handover in history. According to estimates made

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Records for rental properties and holiday homes

Records for rental properties and holiday homes

How long to keep rental records You need to keep records for 5 years. Depending on your situation, that is 5 years from the date: you lodge your tax return of your last claim for the decline in value of an asset it is certain that no capital gains tax event can

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Insurance payouts after a disaster

Insurance payouts after a disaster

When to include insurance payouts from disaster events in your tax return for businesses, or assets that produce income. When recovering from disaster events, check if you need to report and pay tax on insurance payouts: damaged or destroyed personal items or assets are not taxed businesses or income-producing assets

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Two ways to invest your mortgage rate cut

Two ways to invest your mortgage rate cut

Why investing extra money from a rate cut can be a better long-term option. Millions of Australians holding variable rate mortgages are about to receive a monthly household cash infusion, thanks to the Reserve Bank’s 0.25% cash rate cut on 20 May. Based on an outstanding mortgage balance of $600,000

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Getting EOFY ready as a property investor

Getting EOFY ready as a property investor

In the lead up to the end of the financial year (EOFY), it’s a great opportunity for property investors to pause, prepare their records, and make sure they’re making the most of what they can claim. Tax time might not be the most exciting part of investing, but a little

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Why it’s never too early to start teaching your children about money

Why it’s never too early to start teaching your children about money

Here’s how you can help your children build financial literacy Australia is one of the wealthiest countries in the world, yet many Australians struggle with financial literacy. Vanguard’s 2024 How Australia Retires report found that only one-third of Australians were very confident or extremely confident in making financial decisions. While

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Protecting your superannuation after death

Protecting your superannuation after death

You work hard to build your superannuation. It’s an income source in retirement, there to help fund the life you and your family want to live when you stop working. You need to tell your super fund who should receive your super and any life insurance when you die. Without

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How to financially ease into retirement

How to financially ease into retirement

Deciding when to retire is a big decision and even more difficult if you are concerned about your retirement income. The average age of Australia’s 4.2 million retirees is 56.9 years but many people leave it a little later to finish work with most intending to retire at just over

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What are family trusts?

What are family trusts?

Many of us associate trust funds with their depictions in popular culture – tools used by the mega-rich to distribute enormous family incomes among “trust-fund babies”. Recently, they even went viral as the centrepiece of a TikTok audio by user @girl_on_couch, who was famously “looking for a man in finance.

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Unauthorised and mistaken transactions

Unauthorised and mistaken transactions

If you find a transaction in your account that you don’t recognise, it could be unauthorised or mistaken. If you think something is wrong, contact your bank as soon as possible. Signs of unauthorised and mistaken transactions An unauthorised transaction is when someone transfers money from your account without your

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