How to max your tax refund

How to max your tax refund Expecting a refund from your 2017/18 tax return? 77 out of 100 Aussies are likely to get one and many could already have plans to spend it. If you’re one of them, find out how to treat yourself right with your windfall and be better off for good. For most of us, tax refunds rarely come as a complete surprise. In fact, sometimes we might even be using the …

Investment bonds – a possible alternative to superannuation

Investment bonds – a possible alternative to superannuation Because many people can no longer put as much money into super, an investment bond may provide another way to save for retirement. On 1 July last year, the amount of money many Australians could put into superannuation was reduced as a result of the introduction of more restrictive contribution caps. Consequently, some people were left asking the question – I have money or I expect to …

What are “returns”?

What are “returns”?  You’ve heard people brag about the great “returns” they may be earning, but there is more than meets the eye when it comes to talking about returns. Just as the word suggests, returns are what comes back to you from your investments or savings. So if you’ve put money in the bank, your returns will include the interest you’ve earned over and above the money you invested. Total returns If you have successfully …

Why it pays to contribute to your partner’s super

Why it pays to contribute to your partner’s super If your other half is a stay-at-home parent, working part-time or out of work, adding to their super could benefit you both financially. If your spouse (husband, wife, de facto or same-sex partner) is a low-income earner or not working at the moment, chances are they’re accumulating little or no super at all to fund their retirement. The good news is, if you want to help …

Investing for kids – ways to save for their future

Investing for kids – ways to save for their future Whether you’re thinking about childcare, education or beyond, saving even a bit now could make a big difference later. It’s natural to want the best for the children in your life, whether you’re their parent, step-parent, carer, aunty, uncle, grandparent or even godparent. And, while money won’t be the be all and end all when it comes to raising happy little humans, you’d probably agree …

The pros and cons of investment bonds

The pros and cons of investment bonds Also called insurance or growth bonds, investment bonds can be a tax-effective way to save for something big. If you’re saving for a particular goal, looking for an alternative to super, or want to ensure those who matter most are taken care of after you’re gone, investment bonds (also known as insurance or growth bonds) may have benefits while potentially reducing what you pay in tax. If you’re wondering how …

Millions but not all to benefit from 2017 super changes

Millions but not all to benefit from 2017 super changes With changes to super now in effect, numerous Australians will get a leg up, many being low-income earners. According to the Association of Superannuation Funds of Australia (ASFA), more than four million Australians will benefit from the super changes that came into effect on 1 July 2017.i The industry body said while many would be impacted by new rules and restrictions, millions would benefit from …

Watch out for tax scams

Watch out for tax scams Tax time is approaching and that means a juicy refund may be just around the corner. It’s a busy time for scammers too, and last year alone 48,000 Australians fell prey to tax scams between July and October. Already this year, the Tax Office has registered over 17,067 scam reports with victims collectively losing $1.5 million to fraudsters. That makes it worth knowing what to watch out for to keep …