How much tax you pay on your super contributions and withdrawals depends on: If you inherit someone’s super after they die, the person’s super fund pays you a super death benefit. You may have to pay tax on some of this benefit. Because everyone’s situation is different, it’s always best to get advice about tax...

The ranks of Australians receiving the Age Pension are increasing. It’s important to understand who is eligible and its role in retirement planning. Just days before the 2023 Federal Budget was handed down on 9 May, the Australian Bureau of Statistics released a new report including data on the number of Australians receiving the Age...

If you’re over 55 and looking to boost your retirement savings, you may be eligible to make a super contribution of up to $300,000 from the sale proceeds of your primary residence. On 1 January 2023, the age when eligible Australians qualify to make downsizer contributions was reduced from 60 to 55. For those who...

When will you be ready to retire?  There are two important ages you need to consider when thinking about retirement – the preservation age when you are eligible to start drawing on your super and the Age Pension age when you are eligible to receive the Age Pension.  Age Pension age This is the age...

The statistics on elder abuse are alarming, with almost 15% of older Australians estimated to be suffering elder abuse each year. The actual numbers are probably higher, as it is likely that not all cases are reported. This abuse often involves the misuse of an older person’s finances and assets by family members – often...

The start of a new financial year is the perfect time to get your financial affairs in order. Whether it’s tidying up your paperwork, assessing your portfolio or dealing with outstanding issues, there are plenty of practical actions you can take. Here are some strategies for starting the new financial year on the right foot....

The thought of retirement is an enticing one for many of us. Imagine throwing off the shackles of the workforce and being able to do whatever you want, whenever you want. But why wait until you are retired to do the things you love?  Retirement is a time where we finally have the space to...

If you have an SMSF, it’s essential to get your fund is in good shape and ready for June 30 and the annual audit. It’s particularly important this year, because the ATO is focussed on fixing a number of issues when it comes to SMSFs. These include high rates of non-lodgment and problematic related party loans by...

The rising cost of living is grabbing all the attention right now as people struggle to pay the increasing prices. But in the meantime, our collective wealth has been growing steadily and is being transferred to the next generation at increasing rates. In fact, the value of inheritances as well as gifts to family and...