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Australia’s “secret” inheritance tax
By Peter Kelly on 14 September 2022 Did you know? By 1895 each Australian State had introduced its own inheritance (estate) tax. This tax was also often referred to as “death duties”. Federal estate tax was introduced in 1914 but was abolished 65 years later, in 1979. The States have also abolished their inheritance taxes, starting with Queensland […]
Business Update – 7 September 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Property values experience biggest drop in nearly 40 years In August, Australian property values suffered their biggest monthly drop since 1983 as the market’s downturn accelerated. Every capital city apart from Darwin is now […]
Can I claim a tax deduction for my personal super contributions?
By Peter Kelly on 7 September 2022 Firstly, a very quick history lesson. If we go back in time to before 1 July 2017, the only people that could generally claim a tax deduction for their personal superannuation contributions were those that were primarily self-employed. That is, they were sole traders or partners in […]
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What is the…..Jobseeker Payment?
What is the…Jobseeker Payment? By Peter Kelly on 17 August 2022 Over recent weeks I have received a number of enquiries from advisers with clients wanting to “retire early” in order to spend time with their older partner who is already receiving an age pension. The questions I have been receiving are around the […]
Business Update – 23 August 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Sellers still making massive profits despite interest rate rises New data from PropTrack has revealed the suburbs where sellers are still making a lot of money off of selling their homes. As interest rates […]
Realise Your Dream
Is your house your home? By Peter Kelly on 24 November 2021 As many people approach or enter retirement, their thoughts often turn to retirement housing options. Often, family members enter the conversation, either by invitation, or they simply gate-crash the discussion and present their own views on the subject. For many, staying in their current home, at […]
More Australian borders open by Christmas
Andrew Brown and Matt Coughlan (Australian Associated Press) Australia is expected to allow quarantine-free travel for fully vaccinated international arrivals into at least four states before Christmas. South Australia will scrap isolation requirements for overseas and domestic travellers with two coronavirus jabs when the state reaches 90 per cent immunisation coverage. Premier Steven Marshall […]
Australians fret over inflation outlook
Colin Brinsden, AAP Economics and Business Correspondent (Australian Associated Press) Australians are worrying about cost of living pressures, fuelled by a jump in petrol prices to record highs, which may curb their future spending habits. The weekly ANZ-Roy Morgan consumer survey found inflation expectations for the next two years jumped 0.3 percentage points to […]
Should you merge your finances with your partner?
Money and Life (Financial Planning Association of Australia) If you’re in a relationship, it can be tricky to work out when to start sharing income and expenses. Here are a few ways to successfully merge money as a couple. The COVID-19 pandemic has changed many aspects of our daily lives, and romance is no […]
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Social media crackdown to protect children
Matt Coughlan (Australian Associated Press) Children aged under 16 would need their parents’ consent to use social media platforms under a proposed online crackdown. Attorney-General Michaelia Cash on Monday released an exposure draft of new legislation to create a binding privacy code for social media services, data brokers and other large online operators. All […]
