If you’ve ever changed your name, address or job, you may have lost track of some of your super. Finding your lost super and bringing it all together saves on fees and makes it easier to manage. Find your super Your lost super may be held by your super fund or by the Australian Taxation … Read more
There’s a change coming soon that means to comply with ‘choice of fund’ rules you might need to do something extra when a new employee starts to work for you. Currently, if a new employee doesn’t choose their own super fund, you can pay super contributions for them to your default fund. From 1 November, if … Read more
Paying off your education is no reason to put off buying property. You can remember it now: sitting in a chair at the back of the lecture theatre, chatting to your friends and ignoring the debt that each day at university was plunging you into. But now you’re older and wiser, and reality has set … Read more
It’s easy to make a mistake when preparing your BAS. The key is to be aware of common pitfalls so you can avoid them. Thankfully, with online accounting software, preparing your own Business Activity Statement (BAS*) is easier. Even so, the ATO has identified a number of mistakes commonly made in the BAS reporting form. Here are … Read more
There’s a bit to sort out once your auction has wrapped up. We’re here to guide you through the key financial to-do’s after your auction – whether you’ve sold or getting ready for round two after passing in. What happens with the buyer’s deposit? How it’s paid As the seller, how the deposit gets paid is your call – … Read more
What comes to mind when you think of fitness? For many of us, it’s treadmills, weights, or maybe even those dreaded burpees – things that keep our bodies moving and strong. But fitness also applies to our minds, jobs, families, communities, and finances, all of which play important roles in our overall health and well-being. … Read more
You may be able to take your superannuation as a lump sum payment when you retire. This is usually tax-free from age 60. How a superannuation lump sum works Depending on your fund’s rules, you may be able to withdraw some or all of your superannuation (super) as a lump sum. If so, you can … Read more
By Tony Kaye, Senior Personal Finance Writer, Vanguard Australia After strong gains over most of this year, September proved to be a rocky month for global stock markets. The broader Australian market fell more than 2 per cent over the month, while the United States market suffered a fall of almost 5 per cent. That … Read more
Generally, you make a tax loss when your business expenses are more than your income. Or more specifically, when your total deductions are more than your total assessable and net exempt income for an income year. If you make a tax loss, you may be able to: claim it in the current year carry it … Read more
A redraw facility allows you to make overpayments on your home loan. It also gives you peace of mind knowing that, if you’re faced with an unexpected expense, you can redraw the extra payments. How a redraw works You can make extra deposits by increasing the amount of your regular payments. You can also deposit the occasional lump … Read more
By Tony Kaye, Senior Personal Finance Writer, Vanguard Australia Australian interest rates aren’t likely to be rising in the near future. That was the continued message from the Reserve Bank of Australia this month when it announced it was keeping the official cash rate at a record low 0.1 per cent for the tenth month … Read more
We often don’t like to think of our mortality, but it’s a fact of life. The best way to take care of your business, family and loved ones in the event that you are no longer here is by putting in place a solid plan, writes Melisa Sloan, author of Legacy, and an Estate Planning Lawyer. … Read more