The much-debated tax on superannuation balances over $3 million is inching closer and those who may be affected should ensure they have considered the implications. Although it is not yet law, the Division 296 tax should be taken into account when it comes to investment strategy and planning, particularly in relation to any end-of-financial-year contributions...

Overview If your relationship with your spouse ends, you should be aware of what can happen to the super entitlements of you both. The Family Court and super-splitting laws generally enable super interests (accounts in super funds) or super payments (pensions or annuities) to be split by agreement or court order if a relationship breaks...

Understanding financial health Financial health is an important part of our lives. When we take care of our financial health we can better manage financial stress and achieve our financial goals.   Financial health is made up of three components:  When we maintain good financial health we’re in a better position to handle life’s ups and...

Managing risk is an essential part of investment strategy to reduce the potential for losses. Risk is not just associated with investing though – life can throw a curve ball or two and insurance is one way to manage risk in a broader context. It’s a matter of weighing up your risks and thinking about...

Cashflow planning is important when moving into aged care, but plans can be thrown into chaos if your first invoice shows much higher fees than expected. This article sheds light on interim fees.  The first statement you receive when you move into residential aged care can be a shock, as fees might be far higher...

The rules around making some types of super contributions have been relaxed in recent years, so it’s worth exploring the different opportunities available to you before making a large contribution.i What are contribution caps? Given the tax-effective environment of Australia’s super system, there are annual limits on how much you can contribute each financial year....

Investing successfully and improving your investment portfolio can be as much about minimising mistakes as trying to pick the ‘next big thing’. It’s all about taking a calm and considered approach and not blindly following trends or hot tips. Let’s delve into some of the most prevalent investment mistakes and look at the principles that...

Prime Minister Anthony Albanese has announced proposed changes to address ongoing cost of living pressures with all 13.6 million Australian taxpayers receiving a tax cut from 1 July 2024, compared to the tax they paid in 2023-24.i Now is the time to assess what it means to your hip pocket and what implications it may...

We spend decades watching our super balances grow but for those thinking about retirement in the next few years, it can be confusing to work out how best to use your super. Here are some of the considerations for the popular options. Easing into retirement You can keep working and receive regular payments from your...