Your Super – who to nominate as your beneficiary?
Nominating your super beneficiary is something you have most likely been asked to do if you have asuperannuation fund.But, super fund trustees can only pay your super death benefit to eligible dependants1 or to your legal personal representative (LPR) who is generally the executor of your Will. If you haven’t elected a valid beneficiary the…
Read MoreMarket Volatility – June 2022
Falling stock and bond markets, along with the rising volatility which has gripped global markets since the start of the year, has intensified in recent days. Last week’s announcement of annual US inflation of 8.6%, the highest in 40 years, was the primary cause.Energy, food, and services have all contributed to the rise in US…
Read MoreFederal Election 2022 – what could this mean for you?
A number of changes were proposed by the Government during the election campaign, and support was also announced for a number of proposals made by the previous Government. So where do things stand, what’s next, and how could these proposals impact you? Below is a summary of some of the key announcements to date, and…
Read MoreSuper Contribution Changes
1 July 2022 and superannuation contribution changes Several key super changes which may impact your ability to contribute to your SMSF, are set to take effect from 1 July 2022. These changes create opportunities for all SMSF members, young and old, to grow their retirement savings. What are the changes? Originally announced in the 2021…
Read MoreTax tips and tax return checklist 2021/2022
To help you complete your tax return, including if you’ve been working from home, this checklist outlines income and expenses you need to disclose to the Australian Taxation Office (ATO) when lodging your return. We’ve also provided an overview of the types of tax offsets and deductions you may be entitled to claim plus other…
Read MoreOpportunities await – Super changes from 1 July 2022
Changes to super contribution rules from 1 July may create a great opportunity to revisit yoursavings and super contribution strategies. The changes may create new or enhanced optionsto build your savings. Outlined below is a brief explanation of some of the key changes andhow you could benefit. Super changes aheadNow is a great time to…
Read MoreFirst Home Super Saver scheme – how does it work?
From 1 July 2022, if you’re a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home. Under the scheme, voluntary concessional and non concessional contributions made on or after 1 July 2017 may be released from super to help you purchase…
Read MoreFederal Budget Video Update 2022
2022 Federal Budget Analysis
This year’s Federal Budget covers a range of measures aiming to reduce the pressure from increased costs of living and help people into homes. Note: These changes are proposals only and may or may not be made law. Summary Personal taxation Cost of living tax offset: The Low and Middle Income Tax Offset (LMITO) will…
Read MoreInflation: what does it mean for me and my money?
Inflation is a hot topic at the moment. But what exactly is it, and how does it affect you and your money?Inflation is making news daily through wage inflation, energy inflation, food inflation, fuel inflation… and not just in Australia, but in many other countries too. In simple terms, inflation means that the prices of…
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