2022/23 Federal Budget analysis
Two Federal Budgets in one year – what a treat! Nearly a decade after Labor’s last Budget, Jim Chalmers delivered his first Budget with only a few new proposals that may impact the financial planning space. Most of the relevant…
Budget 2022: Winners and Losers
The October Federal Budget appeals to families, patients accessing medicines, renters and home buyers, and those in vocational training. An estimated $28.5 billion in revenue will be clawed back in this Budget through a variety of means, including tax compliance…
Time to improve your retirement budget
With inflation rising, low bank interest rates and volatile markets, here are a few tips to help you think about what you could do to boost your household’s bottom line. Recheck your eligibility for the Age Pension. If your assets or…
Rental property video series
The Australian Taxation Office (ATO) have created some helpful videos to assist you in understanding what your record-keeping obligations are if you own or are investing in a rental property. The videos include the following: An introduction to rental property…
Financial Planning and Budgeting are very different – this is what you need to know
Budgeting and financial planning are both processes designed to boost your financial wellbeing. And while there are striking similarities between the two, there are key differences in how the two work to help you achieve your financial goals. Budgeting As…
World Financial Planning Month
To demonstrate the difference between an Australian that has been financially advised to an unadvised, the Financial Planning Association (FPA) has released an inaugural Value of Advice (VoA) Index. Some of the key insights: Advised Australians are better off Australians…
What is financial planning?
Financial planning helps people identify and work towards achieving their financial and lifestyle goals. Essentially, it helps you be more in control of your income, expenses, and investments so you can make informed decisions about managing your money and achieving…
How long should I keep my tax records for?
What is a record Records are written evidence of your income or expenses that can either be in paper or electronic form. These records are important documents that are used for doing your tax during the income year. In most…
Managing your tax and superannuation on the go
To manage your tax and super on the go the Australian Taxation Office (ATO) have created an app that you can download and install on your mobile device. Download the ATO app The app is free to download and use…
Fiducian Economic August 2022 commentary
The global economy is continuing to face headwinds and growth has been slowing since early this year. In April, the International Monetary Fund (IMF) explained that ‘global economic prospects have worsened significantly’ and ‘the outlook has deteriorated largely because of Russia’s…