Watch out for tax scams

Watch out for tax scams The end of the financial year will likely bring the usual wave of scams. Here’s what to watch for. The Federal Budget is behind us, and amid the celebrations over tax cuts (around $500 annually for low to middle income earners), now is the time to be mindful of scammers pretending to be from government bodies – especially the Tax Office. In some cases, scam victims have lost close to …

Should I buy or rent? (Video)

Should I buy or rent? (Video)  Louise Lakomy CFP® Louise has a wide range of experience and depth of knowledge in all facets of financial planning providing advice over 15 years specialising in retirement strategies. As part of the Financial Planning Association’s Ask a Planner video series, Louise Lakomy CFP® answers the commonly asked question, “Should I buy my own home, or continue to rent and put my money towards other investments?” If you …

Are you entitled to a tax deduction on personal super contributions?

Are you entitled to a tax deduction on personal super contributions? This financial year is the first time that employees can claim a tax deduction for their personal super contributions. Personal super contributions made during the 2017-18 financial year can now be claimed as a tax deduction by most Australian workers. This follows changes made by the government which came into effect on 1 July 2017. Previously, only the self-employed, unemployed, retirees, or those who …

Putting the global “debt bomb” in perspective – seven reasons to be alert but not alarmed

Putting the global “debt bomb” in perspective – seven reasons to be alert but not alarmed Key Points Global debt levels have reached new records. Countries with very high gross debt to GDP include Japan, Belgium, Canada, Portugal and Greece. The main areas of rising debt since the Global Financial Crisis (GFC) have been public debt in developed countries (with more to come in the US) and private debt in emerging countries (and of course …

What it means to retire and live the dream

What it means to retire and live the dream When you’re no longer working and chasing dollars, you may have a different perspective on what you value most about your life.  Take a look at how our current generation of retirees measure their success and what “living the dream” means to them. “Living the dream” in retirement? How likely are retirees to be “living the dream” Just 22% of boomers are living the dream compared with 27% of …

Weekly Market Update 15 June 2018

Weekly Market Update 15 June 2018 Investment markets and key developments over the past week The past week saw most share markets gain as strong US data more than offset worries about a more hawkish Fed and tariffs, the ECB remained dovish, Italian risks receded a bit and the US-North Korean summit was seen as successful. Chinese shares were not helped by soft economic data but gains in global shares generally and lower bond yields helped …

The many risks of gearing

The many risks of gearing If you are you borrowing money to invest, or considering it, it’s important to ensure you aware of the many risks involved. Gearing, or borrowing money to invest, can be a great way to grow your wealth, but it isn’t for everyone. The aim is to borrow money at a lower rate of interest than the return you will earn by investing that borrowed money – to make a profit. …

5 things you should know about Bitcoin

5 things you should know about Bitcoin If you have the technology needed to read this article, you’ve probably heard a lot about Bitcoin. Perhaps you think you’ve missed out on an easy way to build your wealth. We bring you a quick introduction to Bitcoin and share five important things you should know before deciding whether to invest. Although the media has been having a Bitcoin frenzy in recent months, the first and best-known …

What can I do in my 30s to prepare for the future? (Video)

What can I do in my 30s to prepare for the future? (Video)  Louise Lakomy CFP® Louise has a wide range of experience and depth of knowledge in all facets of financial planning providing advice over 15 years specialising in retirement strategies. As part of the Financial Planning Association’s Ask a Planner video series, Louise Lakomy CFP® answers the commonly asked question, “What can I do in my 30s to better prepare for the …

Time for your next pay rise?

Time for your next pay rise? It’s important to get paid what you’re worth, for your self-esteem and your bank balance too. Find out what’s going on with wages and jobs in Australia and whether you should ask for a raise. Haven’t had a decent pay rise in a while? If you work in Australia, chances are you’ve seen very little change in your basic wage in the last few years, regardless of what industry …