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With the 2019 Budget week having concluded following the formal delivery of the 2019/20 Federal Budget by the Treasurer on 2 April 2019, and the Opposition response on 4 April 2019, it’s now “game on” in terms of policy positions as the electorate starts to consider where they will cast their vote in the upcoming election.
Read MoreSuperannuation is widely considered to be one of the most tax-effective investment structures available for wealth accumulators and retirees alike. As such, from a retirement planning standpoint, building wealth inside superannuation through contributions (and, compound investment returns) can be an important focus before reaching your retirement years. However, making voluntary contributions to your superannuation can prove more difficult the further you progress through life, especially when considering contribution eligibility rules for those aged 65 and over. With this in mind, the Government has sought to provide additional flexibility for those aged 65 to 74 via a one-year work test exemption (WTE) that takes effect from 1 July 2019. In our animation, we illustrate how this exemption works.
Read MoreIn our article, ‘Your 2019 financial health check’, we highlighted the importance of regularly taking stock of your personal circumstances (financial situation, goals and objectives).
Read MoreWhen it comes to refinancing your home loan, “refinancing” simply means taking out a new loan to pay out your current mortgage. There are a whole range of reasons why you may want to change loan providers some of which include: if your circumstances have changed, or you've had your home loan for a few years then refinancing could offer you the chance to take advantage of more flexible features.
Read MoreEstate planning is much more than having a will – it's about planning for what happens to your assets and affairs after you die, as well as who takes charge of your affairs in the event you lose capacity - your back-up plan. Sadly many Australians don't even have a will.
Read MoreThe tax laws that penalise uncommercial transactions between SMSFs and related parties are set to get tougher, with an SMSF’s expenses to come under the spotlight. Now more than ever, SMSF trustees should be aware of the potential for these penalties to apply and seek advice before entering any related party transactions.
Read MoreAssessing past financial performance, and predicting future performance is an important consideration for those wishing to run a successful, long-term business.
Read MoreOn 2 April 2019, the Government handed down the 2019-20 Federal Budget.
Read MoreThe government’s new measure to allow those with less than $500,000 in superannuation to “catch up” on missed superannuation contributions is a great opportunity for anyone who takes time out of work or otherwise has “lumpy” income that means they have a varying capacity to make contributions from year to year. Individuals who want to fully take advantage of this strategy by making contributions up to their concessional cap plus additional catch-up amounts may need to consider strategies for how to fund those catch-up contributions. Individuals with a total superannuation balance (TSB) below $500,000 are now able to “carry forward” their unused concessional contributions.
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