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
It seems like headlines these days keep announcing markets have hit yet another all-time high. And while it’s worth celebrating good days like this, not every day is going to be the same. When it comes to investing, the biggest elephant in the room is the word “uncertainty.” No one can say for certain what … Read more
Lenders use your credit score (or credit rating) to decide whether to give you credit or lend you money. Knowing this can help you negotiate better deals, or understand why a lender rejected you. Your credit score is based on personal and financial information about you that’s kept in your credit report. You can access … Read more
As a small business, you have access to a range of concessions that could help your cash flow. Here’s some news and details about available concessions for you to consider. Lower company tax rates have changed. If you’re a base rate entity, your company tax rate is 26% in the 2020–21 income year. The small … Read more
The target mix of your investment portfolio should be built on your goals, time horizon and risk tolerance. But goals can change, and market fluctuations can cause your asset allocation to shift, so it’s important to monitor your portfolio on a regular basis and make adjustments as needed to ensure you are not taking on more risk … Read more
An account-based pension offers regular, flexible and tax-effective income from your superannuation. You can get one when you reach ‘preservation age’ (between 55 and 60). It lasts as long as your super money does, but is not a guaranteed income for life. How an account-based pension works An account-based pension (or allocated pension) is a … Read more
1. Try a working bee What better excuse to have a barbecue than with a working bee? Get family, friends, neighbours and co-workers together to turn mundane jobs into an afternoon of fun (and toil). Get them painting bedrooms, polishing decks or hammering shelves—while you repay them with a drink and a BBQ. 2. Check … Read more
A transaction account is an account you use for day-to-day banking such as paying bills and getting your wages. Transaction accounts are often called ‘everyday accounts’. When you choose a transaction account, compare the account features and choose a no-fee or low-fee account. What to look for in a transaction account Most transaction accounts come … Read more