Blog

Understanding Insurance in Your Self-Managed Superannuation Fund (SMSF)

When setting up a Self-Managed Superannuation Fund (SMSF), many are advised to consider how best to handle their insurance needs. While some opt to retain their previous retail or industry super fund accounts primarily for insurance purposes, others explore the potential of integrating insurance directly into their SMSF. In this article, we discuss why and how you can efficiently manage insurance through your SMSF.

Newsletter – April 2024

This month’s update zooms in on the Australian share market's stance amidst global market jitters, notes the dip in major US tech shares, and tracks the steady ascent of property values. We also break down the latest on inflation and interest rates to keep you informed on these important economic signals.

6 Practical Tips for Optimising Your Life Insurance (Death Cover)

Discussing death is challenging, but it's an unavoidable aspect of life. Taking the initiative to secure life insurance early on plays a crucial role in guaranteeing your family's financial well-being. It's important to tackle this process carefully. To assist you with that, we've put together six practical tips which cover everything from accurately assessing your coverage needs to the importance of regular policy reviews. Together, these six tips form a solid foundation for choosing life insurance that best serves you and your family.

5 Rules to Keep Your Business and Personal Money Healthy

In this article, we delve into the essential strategies for maintaining a healthy balance between your business and personal finances. From setting up robust budgeting practices to understanding the importance of separate emergency funds, and navigating the complexities of insurance coverage including health, life, and disability insurances, this guide is designed to safeguard both your personal well-being and business success. By illustrating practical steps and real-life scenarios, we aim to empower entrepreneurs with the knowledge to make informed financial decisions, ensuring a stable and prosperous journey in both their personal lives and business ventures.

Superannuation Contributions in 2024 and Beyond

Superannuation is more than just a pot of money for retirement. It is your lifeline when you transition from working life to retirement and a powerful tool for building wealth. Investments in super are concessionally taxed at 15% making it a smart choice for tax planning. As you approach retirement, having a Self-Managed Superfund (SMSF) and an investment strategy that involves franking credits become even more compelling as your superfund becomes tax free at retirement.

What’s a Super Retirement Bonus?

Understanding retirement bonuses from super funds can help you get more money for your retirement. These bonuses are a way for super funds to thank you for keeping your money with them as you move from working to retiring. Not all super funds offer these bonuses, and they can vary a lot, so it's important to check how they fit into your overall money plan.

Evolving Role of the Bank of Mum and Dad

Buying an affordable house in Australia is becoming increasingly difficult, and we have noticed more parents are helping their kids get into their own first homes. If you are in the fortunate position to help your children out and you are planning to do so, there are certain implications that you need to think about before proceeding.

Plan Ahead of the Stage 3 Tax Cuts

With the Stage 3 Tax Cuts just around the corner, now's the time to start thinking about what these changes mean for you. Whether you're running your own business or managing your household budget, understanding these tax adjustments could make a big difference to your finances. From paying less tax to finding new ways to save and invest, these changes are designed to make things a bit easier for many of us. Let's dive into how you can prepare and make the most of the opportunities these tax cuts are bringing to the table.

What’s all this about Stage 3 Tax Changes?

Unless you have been hiding somewhere, you will have seen and heard a lot about the changes to the ‘stage 3 tax cuts’ that the Commonwealth recently announced. Two thirds of people support the changes. So, what are they?

Annual Financial Planning Checklist 2024

Building a personal financial plan means closely looking at your money situation. This includes checking your income, savings, and any money you owe, like loans and credit card debts. You also need to think about your regular bills and how they fit with your future money goals, such as saving for retirement or investing wisely. Having a yearly checklist helps you keep track of it all, making sure you're on track to meet your goals and keep your finances in good shape.

Think About Business Coaching

Business coaching is a valuable tool for business owners seeking to enhance their performance, overcome challenges, and achieve sustainable financial and personal success. Here are ten major benefits of effective business coaching.

A 20-Something’s Quick Guide to Super

Retirement can seem a long way off for people in their 20s and 30s. But super is also compulsory, so it makes sense to ensure that you have the right settings for yours, no matter how far away retirement might seem. Here’s five key things to think about when it comes to your super.