Tax offset v tax deduction: What’s the difference?
This year’s Federal Budget was full of talk about one-off support for households in the form of tax offsets, but most people are a bit hazy on the difference between a tax offset and a tax deduction.
The road ahead for shares
Trying to time investment markets is difficult if not impossible at the best of times, let alone now. The war in Ukraine, rising inflation and interest rates and an upcoming federal election have all added to market uncertainty and volatility.
Going guarantor on a loan
If you guarantee a loan for a family member or friend, you're known as the guarantor. You are responsible for paying back the entire loan if the borrower can't.
If a lender doesn't want to lend money to someone on their own, the lender can ask for a guarantee.
Before you agree to be a guarantor, think carefully about your own finances. Make sure you understand the loan contract and know the risks.
If you're feeling pressured or unsure about a financial decision, speak to a financial counsellor. It's free and confidential.
Your key priorities when winding down your mortgage
Many of us make paying off our mortgage a priority. It’s the new Australian dream. But before making that last home loan repayment, use our checklist to make sure you’re prepared.
Sharing super a win-win for couples
Australia’s superannuation system is based on individual accounts, with men and women treated equally. But that’s where equality ends. It’s a simple fact that women generally retire with much less super than men.
A great time to reassess your career
The pandemic has ushered in broad-ranging societal change including fuelling a trend that has become known as ‘The Great Resignation’ or ‘The Big Quit’, where employees are reviewing what they value and are looking for in a job and in some cases, leaving in search of greener pastures.
How to calm those market jitters
It’s been a rocky start to the year on world markets but that doesn’t mean you should hit the panic button. Staying the course is generally the best course, but that’s easier said than done when there’s a big market fall.
Easing into retirement
As the nation drifts back to work after the summer break, it’s often a time to start putting your New Year’s resolutions into practice. For some, an extended holiday may have convinced you that you are ready for more of the good life and that it’s time to retire.
In the past, that would have meant leaving work for good. These days, retirement is far more fluid.
You might simply want to wind back your working hours. Or you may want to leave your full-time job but keep your career ticking over with part-time or consulting work. Others may dream of leaving the nine to five to run a B&B or buy a hobby farm.
SMSFs and property: What are the rules?
With the property market hitting all-time highs in 2021, interest in investing in direct property through your SMSF has never been higher.
In the September 2021 quarter, Australia’s SMSFs had almost $88 billion invested in non-residential real property, with another $47 billion in residential real property.
But before you add property investments to your SMSF, there are rules you need to be aware of.
Tax deductions for your home-based business
Using your home as the base for your business is increasingly popular, particularly due to COVID-19, with many of Australia’s 2.1 million enterprises with four or less employees now based at home.