Is it time to rethink cash?

Is it time to rethink cash?

Another rate rise – Is it time to rethink cash? Last Tuesday the Reserve Bank Governor Philip Lowe announced a 50-basis point increase in the official cash rate, raising it from 0.85% to 1.35%. This increase is the third in three months, following those of 0.25%...
Three retirement mistakes to avoid

Three retirement mistakes to avoid

The start of a new financial year is a great time to review strategies and settings in order to maximise your retirement income This week we look at three ‘big dollar’ decisions – and why knowing the detail and/or seeking advice can save you more in the long run. Some...
Negative superannuation returns

Negative superannuation returns

Fifth downturn in 30 years The numbers are in and ‘its not pretty’ said one super fund chief. This is all too true, with Chant West reporting an expected 3.5% drop in super fund balances over the past 12 months. This amount is still an estimate as it takes some funds...
Work bonus update

Work bonus update

How much can you earn? Allowing retirees to earn more, whilst retaining their Age Pension eligibility, is a move that’s gaining momentum. A doubling of the current work bonus, from $7800 per annum to $15,600 without financial penalty has a lot of support. The proposed...
End of Year tax rules for retirees

End of Year tax rules for retirees

Tax rules for retirees Thursday marks the end of financial year 2022. Or the EOFY as it’s now commonly known. Many people assume – incorrectly – that retirees who don’t earn income don’t need to file anything. This is not true. There are two points to make here....
July 1 rule changes

July 1 rule changes

Eight ways your finances could change This year there are a flurry of financial changes  coming through on 1 July. Some may dramatically affect your retirement income possibilities. At the very least, they should encourage you to review your current settings and...
Age Pension thresholds have increased

Age Pension thresholds have increased

As we reported last week, the qualifying limits for the Age Pension will change on 1 July. These changes are significant and therefore are likely to have a major impact upon your pension eligibility, as well as the amount of your fortnightly entitlements. The good...
The upside of the downside

The upside of the downside

Sliding assets and rising rates deliver a bonus You’ve seen the headlines.  Share markets around the world and here in Australia have been taking a tumble.  In mid-June, the US share market is down just over 20% since the beginning of calendar year 2022.  The...
Centrelink Rules Explained

Centrelink Rules Explained

Seven rules explained If it’s true that a picture is worth 1000 words when it comes to understanding, then our plain English answers to our member’s Centrelink questions also comes very close. In the past few weeks the very knowledgeable Steven Sadler (who heads up...