In this fortnight's market update, interest rate predictions remain a focal point amid mixed economic data. April CPI figures showed a rise in inflation to 3.6%, dampening hopes of a late-year cash rate cut. The ASX fell 2.38%, with only IT stocks, buoyed by NVIDIA's impressive earnings, showing gains. Consumer Discretionary and Communications sectors led the decline. Internationally, Hong Kong's Hang Seng Index dropped 6.77% after a strong month, influenced by rising U.S. treasury yields and China's property market concerns. As global markets react to economic signals, investor sentiment remains cautious.

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In today's fast-paced world, managing finances efficiently is crucial for both businesses and individuals. Xero, a cloud-based accounting software, has revolutionised the way we handle financial operations. Here are 10 key benefits of using Xero software.

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Who doesn’t love a tax cut? Most of us are now only weeks away from saving on our tax bills, with Stage 3 tax cuts to kick in from 1 July. But another key advantage is that the tax cuts could give your borrowing power a nice boost.

The upcoming Stage 3 tax cuts have received plenty of attention – some good, some bad – so we won’t focus on the politics of it today. But they are still expected to benefit about 13.6 million Australians, and how much tax you might save depends on your income. A person on the national average wage of around $73,000 will pocket a yearly tax saving of $1,504, says the federal government. If your income is, say, $100,000, you could expect to save $2,179 in tax each year. For households juggling a cost-of-living crunch, the tax cuts can’t come soon enough.

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As the end of the financial year approaches, it's crucial to maximise your tax deductions in order to ensure you keep more of your hard-earned money. By understanding and utilising the available deductions, you can significantly reduce your taxable income. Here's a comprehensive guide to some key deductions you should consider before 30 June 2024.

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In this fortnight's market update, interest rate predictions remain a focal point amid mixed economic data. April CPI figures showed a rise in inflation to 3.6%, dampening hopes of a late-year cash rate cut. The ASX fell 2.38%, with only IT stocks, buoyed by NVIDIA's impressive earnings, showing gains. Consumer Discretionary and Communications sectors led the decline. Internationally, Hong Kong's Hang Seng Index dropped 6.77% after a strong month, influenced by rising U.S. treasury yields and China's property market concerns. As global markets react to economic signals, investor sentiment remains cautious.

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As the end of the financial year (EOFY) approaches, it's essential to review your superannuation strategy to maximise your benefits and ensure compliance. This comprehensive guide will help you navigate key areas, including concessional and non-concessional contributions, co-contributions, spouse contributions, tax offsets, investment strategy, insurance with super, and compliance and documentation. Let's dive in.

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You’ve probably noticed that banks typically offer their new customers a more competitive rate, but don’t offer the better rate to existing customers unless you specifically ask for it.

What most people don't realise, is that mortgage brokers can request a rate reduction on your behalf (with most banks). Unfortunately, many brokers don't do this which means that when banks raise their rates with small out-of-cycle increases, you end up paying more for your mortgage than you should. In fact, the average difference in rates that banks offer new customers compared to existing ones is around 0.4%. Closing this gap could make a significant improvement to your cash flow and allow you to pay off your mortgage sooner.

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The ASX200 struggles to find traction, marked by fluctuations and modest gains offset by significant losses, staying flat. Shrinking due to hot inflation data, particularly in energy shares. Speculation surrounds the RBA's upcoming meeting amid rising inflation. Global markets rebound, notably the Hang Seng surges, influenced by reassessed US Fed policies.

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