Income – not always what it appears to be

A person’s age pension entitlement is based on several factors. Their age this is the obvious factor. Are they single or a member of a couple? Do they own their home or are they are renting? However, the overriding consideration in determining a person’s correct entitlement is the application of the assets ...

When modest doesn’t cut it

Regular readers of our blog will be familiar with the work that the Association of Superannuation Funds of Australia (ASFA) does in producing quarterly estimates of just how much it cost to live in retirement. Tealey and I usually sit glued to our computer screens following the end of each quarter, ...

I wish my husband never retired

This is a true story. Only the personal details have been redacted for privacy reasons. Jack and Diane have been married for forty-three years. Jack is seventy-one and Diane sixty-eight. They have three children and seven grandchildren. Diane works four days a week in a local business - just because she enjoys ...

Planning on making super contributions this financial year?

As we move into the start of the fourth quarter of the financial year, it is timely that we turn our mind to tax planning and the things we need to be considering as 30 June looms ahead. Firstly, you need to be very mindful of the correct timing of superannuation ...

Scared of losing your marbles… or just your super?

We have previously written on a number of occasions about the risks of internet-driven identity theft and perhaps, more importantly, the theft of our hard-earned savings. But did you know that thousands of Australians have indirectly ‘given’ billions of dollars of their super to the Australian Taxation Office (ATO)? This is not ...

Dividend imputation – what does Labor’s announcement mean?

In the past week, there has been an enormous kerfuffle about Mr Shorten’s plans to abolish the refunding of excess franking credits. On the surface, this might look like a topic that is best ignored, however, there has been so much media commentary both in favour of and against the proposal, ...

 

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