Weighing up costs and benefits of an SMSF
For many people, the idea of managing and investing your own retirement savings is very appealing.
But there is ongoing debate over whether running your own self-managed super fund (SMSF) is cost effective. So, what are the arguments for and against having your own fund?
Contractor or employee: Which are you?
With COVID-19 having a significant impact on traditional employment, many people are working as a contractor for the first time either by choice or necessity. It’s not just a lifestyle decision; from the tax and superannuation perspective, there are important differences between being an employee and a contractor.
Turning redundancy into opportunity
As the economy starts to recover from COVID-19 shutdowns, some sectors may take longer than others to return to their normal operating capacity and some companies may never fully recover. That means there is still the chance that some employees could be made redundant.
Watching our online and social spending
The changes to our daily lives of late have caused us to reframe our views on ‘screen time’, an activity that now more than ever takes up a significant proportion of our day.
Cash is king in a crisis
Most of us understand the importance of saving for a rainy day, but sometimes it takes a crisis like the current pandemic to make us act on it.
New financial year - new perspective
The start of the financial year is always an excellent time to take stock of your current situation and visualise where you’d like to be in the future.
It’s fair to say this year hasn’t been ‘business as usual’! While no-one could have predicted the first six months of 2020, nor want to repeat them, it’s likely there have been lessons learned. So as you review and set new goals, consider any takeaways from lockdown and how they have influenced your goals and path for the future.
Could your business do with a cash flow boost?
The two cash flow boosts provided by the federal government to help businesses deal with the COVID-19 emergency have largely been overshadowed by the JobKeeper program, but they could provide valuable financial support to organisations that qualify.
Time to reassess your financial priorities
t a time of uncertainty about the economy, not to mention unexpected social isolation, people are rethinking their personal and financial priorities.
Whether you are spending less by necessity or because you are living more simply at home, this could be a good time to reassess your spending and review your household budget.
How to achieve focus in a world of distractions
Feel like you’re running on a hamster wheel, beholden to the constant pinging of your phone, busier than ever? You’re not alone, with the trap of always being ‘on’ a curse of the modern day world.
Covid -19 safety net expanded: What does it mean for you?
What does it mean for you?
In a rapidly evolving response to the spread of COVID-19, the Federal Government’s second support package announced over the weekend has flicked the switch to more income support for retirees and workers.
Between the first $17.6 billion package announced on March 12, and this latest $66.1 billion package, the emphasis has shifted from stimulus aimed at keeping businesses up and running, to support for individuals to get them through the crisis.