New rules for credit cards: what do they mean for you?

By admin • August 3rd, 2020
The name John Biggins may not sound familiar, but the banking industry has much to thank him for. Mr Biggins, a Brooklyn banker, was the brains behind the very first credit card in 1946. Known as the Charg-It card, it led to Diners Club membership cards and store cards, revolutionising the way everyday people shopped. […]

Room to rent? Read this first

By admin • August 3rd, 2020
Renting out a spare room can be a great way to earn some extra cash, particularly with the help of Airbnb and similar online services. However, it’s easy to overlook the fact that the rent you charge, even on short-term stays, is taxable income. It must be declared on your annual tax return and, depending […]

The relationship between interest rates and housing affordability

By admin • August 3rd, 2020
It goes without saying that homebuyers love low interest rates. The lower the interest rate the less the mortgage repayments on a particular house, right? Well, maybe. Lower interest rates also mean borrowers can service a bigger loan. In a competitive housing market that can push up prices, as we have witnessed this past decade. […]

Is your Will still relevant?

By admin • July 22nd, 2020
Many of our best laid plans rarely follow through exactly as we might have hoped. However, it’s another  story when it comes to planning for what happens after we’ve left this planet. Our ideas about who will benefit from our estate could potentially change often during our lifetime. Estate planning ensures that when we die, […]

COVID -19 early release super – integrity and compliance

By admin • July 22nd, 2020
The Australian Taxation Office (ATO) is available to help and assist those who are doing the right thing. They will make it as simple as possible for eligible people in the community who need to access their super early to deal with the adverse economic impact of COVID-19. Compliance remains one of their priorities to […]

Superannuation… it’s not a case of “set and forget”

By admin • July 1st, 2020
The government regularly reminds us that each Australian must take responsibility for funding their  future. Regardless of when you will be able to access your super, or when you choose to stop working, you need to be aware of how your superannuation is being managed and if the final balance will be  sufficient when you’re […]

A different way to help the grandkids

By admin • July 1st, 2020
Many grandparents want to give their grandchildren a head start in life, and a common way to do so is to  help by paying some (or all) of their school fees. This can, of course, simply be done by making a contribution at the time the fees are payable. However, it’s not unusual for grandparents […]

How the family home can affect aged care fees

By admin • April 28th, 2020
Residential aged care is playing an increasing role in helping many older Australians enjoy comfortable and carefree lives. However, one of the tasks for anyone assisting an elderly relative with the move into aged care is to investigate the various fees and charges, some of which are subject to both assets and income means tests. […]