An essential part of every financial plan is having personal insurance. But it’s also important to make sure you buy it in a tax-effective way. Benefit from up-front tax concessions If you buy personal insurances such as Life and Total and Permanent Disability through a super fund, you may be able to take advantage of…
Make a will. A will allows you to distribute your estate according to your wishes. You can also avoid the additional costs and delays that may result if you die without a valid will. Choose your executor wisely. Your executor is responsible for ensuring the administration of your estate is dealt with in a timely…
If you’re an empty nester or retiree who owns their own home, chances are you’ve considered whether it makes sense to downsize your home. While there can be financial — and other — benefits in selling up, it’s important to consider whether it’s the right move for you. The pros Downsizing your home can be…
From 1 January 2015 the way account-based pensions will be assessed under the income test for Centrelink purposes is changing. Any account-based pension commenced on or after 1 January 2015 will be treated as a financial asset and deemed under the income test. Account-based pensions commenced prior to 1 January 2015 where the pensioner is…