How will your redundancy entitlements be taxed?

Being made redundant can be one of the most stressful events in a person’s life. A large payout figure may look good at first glance but the effects of taxation can have a significant impact on the final amount received – adding even more stress. The first action is to always seek financial advice to ensure you get the most of a redundancy payment. Components of a payment There are se...
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6 smart ways to build savings

The word “thrifty” is rarely thought of in a positive sense but that’s not fair because if we continually spend more than we earn, our debts will eventually catch up and other words such as “default” or “bankrupt” might become more familiar. Being thrifty doesn’t mean doing without – quite the opposite. Here are six simple tips to build up your savings. Create a budget and...
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Do you want growth or income or both?

If you own an investment property you will be aware that the return from the investment comes from two sources: income in the form of rent paid by the tenant and growth in the form of an increase in the value of the property while you own it. Likewise from a share investment, an investor can receive dividends (income) and capital gain (growth). Many investors who buy shares and property focus o...
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Control your debt before it controls you

Debt can be a wonderful slave but an unforgiving master. Australians have an extraordinarily high level of consumer debt. It fuels our lives. For example, there were more than 204,000 credit card transactions just in the month of November 2015 – valued at more than $26 million! ($8.11 million of this was in cash advances). The scariest part of this equation is accruing interest on outstanding...
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How’s your budget – surplus or deficit?

Each year in early May, the Treasurer delivers the Federal Budget and many people across Australia listen intently. The Budget tells us how the government plans to spend its revenue in the coming year, whether it can afford to give us tax cuts, and whether it expects to spend more (creating a deficit) or less (creating a surplus) than it receives. Budgets are also important on a personal level,...
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Access your super and keep working

Superannuation is meant to fund your retirement, however if you are over age 55 you may be able to access your super without having to fully retire. Pre-retirees can start a “non-commutable income stream” from their super prior to retirement. This means you can draw an income from your super while you are still working (but you are not allowed to cash out lump sums). So, how does this wo...
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