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Transferring death benefits and the tax implications
November 23, 2020Estate Planning
Transferring a super benefit from one fund to another requires the rollover of the required amount from a member’s accumulation or pension account to the new fund. Generally, if a pension is fully rolled over between funds, it is required to come to a stop with the amount being added to the member’s accumulation account...Read More
How life insurance works
November 16, 2020Insurance
Life insurance can help protect you and your loved ones financially if something unexpected happens. What life insurance covers Different life insurance products are designed to protect you from different events that can occur: life cover — pays a lump sum when you die total and permanent disability (TPD) insurance — pays a lump sum...Read More
5 things to consider when saving for a house deposit
November 16, 2020
Before you can step onto the property ladder and buy your first home, you’ll likely have to do some serious saving to build up a deposit. Here are some things to consider that can help get you started, and on the road to home ownership sooner. Work out your current situation It might sound obvious,...Read More
Diversification: Spread your investments and lower your risk
November 9, 2020
Diversification is an investment strategy that lowers your portfolio's risk and helps you get more stable returns. You diversify by investing your money across different asset classes such as shares, property, bonds and private equity. Then you diversify across the different options within each asset class. For example, if you buy shares, you buy across...Read More
Salary sacrificing and superannuation
November 9, 2020
Salary sacrificing, which is also called salary packaging, allows an employee to forgo some of their future entitlement to salary and wages in return for a benefit of a similar value, such as superannuation contributions, a car or other expenses. From 1 January 2020, the law was amended to stop employers from offsetting an employee’s...Read More
A program to enhance super transparency
November 2, 2020
Superannuation fund members have experienced a rollercoaster ride this year as extreme volatility on financial markets has seen investment returns rise and fall, often quite acutely, on an ongoing basis. The sharp falls on markets in the first quarter of 2020 eroded the gains made by many super fund members over the preceding nine months,...Read More
Now you own your data: the new world of ‘open banking’ explained
November 2, 2020
The promise of open banking is big; a new, simpler way to share your personal financial data between banks, lenders and financial companies. It started on July 1. Here’s how it works and what it means to take back control of your data to get the best rates and offers. Switching banks has long been...Read More
Three considerations for the post-coronavirus property market
October 26, 2020
COVID-19 has impacted many of the big, fundamental drivers of property markets in Australia. There is potential for this to have a lasting impact, which could be good news for the chronic affordability issues in the residential market. A history of housing affordability in Australia For years Australia has suffered from poor housing affordability. According...Read More
How to budget for your social life in retirement
October 26, 2020
Have you considered what's on the agenda, such as how often you see yourself eating out and whether you want to travel domestically or afar? If you're in or approaching retirement, you may be prioritising things such as living costs, utility bills, health care and even potentially helping the kids out with their future financial...Read More
A beginner’s investment guide to long-term wealth
October 19, 2020Wealth Creation
It's often said that starting out early on one's investing journey will deliver good long-term results. But in light of recent volatility on investment markets, you may be thinking, is this the right time to start off? Taking your first step is often daunting, but the reality is that investment markets have shown consistent growth...Read More