Each State runs their own Seniors Card program. The WA Seniors Card is a very hand card to have … Table of contents Eligibility Aged 65 or more An Australian citizen who resides in WA Not in full-time employment State Government Concessions Transperth Local Government Rates Driver’s Licence & Vehicle Registration Water Corporation…
Aged Pension Centrelink Aged Pension rules are confusing. This blog article attempts to explain the Centrelink rules, including the Assets and Income tests, in a simpler way than the bureaucrats can. It is accurate as at 11 March 2026 when last updated.
The need for cyber security has never been more important. Cyber attacks are becoming more frequent, more sophisticated and more damaging. There are simple steps everyone should be taking to safeguard their money and information.
The 2025 Federal Budget was handed down on 25 March 2025. The Budget was more about the upcoming election and less about any significant announcements or proposed changes. Click here for a pdf version. This Budget Summary is not designed to cover all aspects of the Federal Budget. It is solely focused on the key…
Carry forward concessional contributions (also called catch-up contributions) offer the ability to make extra tax-deductible contributions into super. In my experience, people are not aware of this fantastic opportunity to reduce tax, hence this blog article. What are concessional contributions? Concessional contributions are superannuation contributions which have been concessionally taxed. Concessional contributions include your employer…
The maximum amount we can contribute into superannuation is decided by the superannuation contribution ‘caps’. Super contribution caps change every few years, and it is important to know what the changes are.
Salary sacrifice is a tax effective way to increase your superannuation balance. In essence it involves voluntarily sacrificing some of your salary into your superannuation account. This article highlights important things to think about, including advantages and disadvantages, before you salary sacrifice. Please note, this blog post covers salary sacrifice into superannuation; it…
The 2024 Federal Budget, brought down on 14 May 2024. With an election likely later this year, or early 2025, this could be the last Budget for the Albanese Labor government. For the second year in a row, the Federal Government is on track to deliver a budget surplus. Helped by a stronger than expected…
If you have converted your superannuation accumulation account to a superannuation pension account then you must start making withdrawals from the pension account. This article details what the minimum pension payment rates are and how they differ depending on your age.
The 2023 Federal Budget, brought down on 9 May 2023, is the first full Budget for the Albanese Labor government. This Budget Summary is not designed to cover all aspects of the Federal Budget. It is solely focused on the key financial planning areas which relate to our clients – superannuation, taxation and social security.…
The 2022 Federal Budget , brought down on 29 March (6 weeks earlier than normal), is the last Budget before the next Federal Election is due to be held. This Budget Summary is not designed to cover all aspects of the Federal Budget. It is solely focused on the key financial planning areas which relate…
Before you hand over your money to a financial planner, make sure you are going to receive independent financial advice. Because if it’s not independent financial advice, then the financial planning advice can’t be considered unbiased or impartial.So what is independent financial advice, and how do you ensure that you receive conflict-free advice?
Sometimes you have a question about a financial matter and just want an answer; not a relationship. It is for this reason that Cornish Wealth Management offers one-off financial advice. One-off advice is also known as ‘situational advice’, ‘episodic advice’ or ‘event driven advice’. And we offer two types of one-off advice – ‘general advice’…
This is always a common question I get asked, and the answer is different for each client. How long you will live, what investment returns you will achieve and what lifestyle do you want in retirement? These are major factors in determining the answer to how much you need in retirement.
Identity theft is a fraud where someone pretends to be someone else and either steals money or gains some other benefit. It can have disastrous consequences but there are some simple steps which will lower the risk of you becoming a victim.
The 2021 Federal Budget, delivered on 11 May 2021, is likely to be the last Budget before the next Federal Election is held. As such, the Budget was designed to keep the electorate favourably disposed towards the incumbent government. Everyone is a ‘winner’.
As a Financial Planner there is one thing I consider to be the most important starting point for anyone wishing to plan for their future. It sounds exciting, but I’m afraid it’s not. It’s actually pretty boring, and tedious; which is perhaps why so few people actually do it… budgeting.
A lot of people google ‘financial consultant near me’. Why? …
Both concessional and non-concessional contributions are payments made to a superannuation fund, however they are taxed differently. There are also different contribution caps for each type.
Australia has a great superannuation system. In fact it is arguably the best in the world. Unfortunately many Australians do not know how good it is, so this article is going to highlight some of the benefits.
We take pride in the financial planning services we deliver, so are always pleased when our valued clients take the time to provide feedback to us in the way of a testimonial or review.
I sometimes get contacted from people seeking advice on their debt. They are at various levels of default with finance institutions. It’s heartbreaking to hear, but it’s not an area I provide advice on; plus I don’t want my fee to add to their financial difficulties. This blog article offers some pointers on debt management…
I thought it wise to share with you what financial planning is and what a financial planner actually does, because in my experience most people either have misconceptions or just don’t know. I’m also going to provide some guidance on the different types of financial planners and crucially, some important steps you need to take…
It is never too late to start a budget, and when you do it will be of financial benefit to you and your family. Start monitoring your expenses with our free budget planner.
Originally scheduled for release on the 12th of May 2020, Treasurer Josh Frydenberg released the Federal Government’s 2020-21 Federal Budget on the 6th of October 2020. In what should always be very welcome news for retirees, there are no significant changes to the superannuation system. And in what should always be welcome news for workers, there are…
Officially we are in a bull market again as there has been a 20% gain from the March lows. You could be forgiven for thinking the worst of COVID-19 is over, at least in regards to the sharemarket. However I don’t think this is a prudent position to take.
I conduct a ‘risk profile’ with every client and this helps guide the overall asset allocation for their portfolio. One of my questions is on inflation, and it is always met with indifference. This is because inflation hasn’t really been a problem in Australia for decades. Inflation may soon become a problem though.
The 2020 Federal Budget is a little unique in that it has been brought forward to the beginning of April, instead of being delivered in May. This is to accommodate a Federal Election that is expected to be held in mid-May 2019. This analysis looks at a number of key areas including the state of…
This would have to be one of the most absurd ideas a government can come up with; especially one which is meant to have at least a modicum of fiscal conservatism. The government is about to use taxpayers money to go where banks fear to tread.
The Hon Scott Morrison MP handed down his third Federal Budget on the 8th of May 2018. Pleasingly, superannuation has again largely been left alone.
Shock horror. Whilst talk of the biggest ever fall on the Dow Jones makes for good headlines, a 4.6% is a big one day drop, but it is far from a ‘crash’.
I congratulate the CBA for coming out and announcing the cancellation of the $2 ATM fee by non-CBA users. It was a rip-off; no question. Withdraw $100 and the banks clip 2% from you. Fortunately, most other banks followed CBA’s lead within the day. But there is a downside, and the main one is that…
The Hon Scott Morrison MP handed down the 2017-18 Federal Budget on the 9th of May 2017. Pleasingly, and unlike last year, in the 2018 Federal Budget superannuation has largely been left alone. The main changes involve allowing people aged 65 and over to downsize their home and gain exemptions from the superannuation caps, and…
The Hon Scott Morrison MP handed down his first Federal Budget on the 3rd of May 2016. The 2016-17 Federal Budget contained modest changes to income tax rates and Centrelink rules but significant, and largely negative, changes to superannuation. Of most concern is that a number of the superannuation changes are retrospective and hence impact…
Before you part with your money, it pays to look into the financial details; or have someone do it for you. Platinum Asset Management (PTM) is a widely respected fund manager and is listed on the ASX. It has recently been announced that they are starting a Listed Investment Company (LIC) called Platinum Asia Investments.…
Lowering portfolio costs is an obvious focus for investors, and ETF’s are becoming an increasingly popular investment vehicle to achieve this. Unfortunately the true cost of ETF’s is often more than most investors are led to believe.
The Hon Joe Hockey MP handed down his first Federal Budget on the 13th May 2014. There are few winners but plenty of losers. Fortunately the superannuation system has not been overly tinkered with. And, with the exception of a temporary 2% budget deficit levy on high income earners, tax has also largely been left…
I am sure you have heard of Warren Buffett, who is generally considered to be the most successful living investor. He is CEO, chairman and president of the US listed investment company Berkshire Hathaway; which as of last night had a share price of US$187,750. Due to Buffett’s phenomenal investing success, (over the last 49…
I don’t mind that the additional tax on tobacco will take a packet of cigarettes past $25, after all smoking imposes a cost on society. However the reverse is true when people save their money, which is why a tax on savings would have to be one of the more bizarre concepts thought up –…
From 31 May 2013, if you notice your bank account has been closed and the money has disappeared, you may want to check with ASIC to see if they have taken it under new ‘unclaimed money’ laws. It’s not ASIC’s fault, the blame should firmly be placed with the Federal Government. In December 2012 new…
In our 2013-14 Federal Budget snapshot we summarise the key features announced last night. As in every other year, the Budget will have a positive or a negative impact on different individuals or households in Australia.
Conventional wisdom dictates that your portfolio should be diversified, but as this article suggests, a ‘Diversified Fund’ may not be the best way for you to achieve diversification.
Financial Planning is a heavily Government (ASIC) regulated business providing individually personalised advice to clients including protecting and growing their wealth. As a financial planner it appears extremely inequitable to see far bigger transactions occur with far fewer compliance hurdles or disclosures such as direct property investing. A real estate agent does not have to…
Below is a review of the 2011-12 Federal Budget that relate to financial planning; namely superannuation, taxation and social security.
It is clear that managed funds offer greater diversification than most people can achieve through direct share investing. Whilst there are many thousands of managed funds they can essentially be broken down to two groups, “active” and “passive”. Active managed funds attempt to outperform the benchmark index through wise stock selection whilst ‘passive’ managed funds…