A new financial year – a new start As we approach the start of the 2024/25 financial year on July 1, 2024, there are several important considerations for us as individuals. Let’s explore six key financial aspects to keep in mind: 1. Set clear financial goals Begin by defining your...
Show me the money!
Show me the money! The ASFA Retirement Standard [1] is released every quarter and benchmarks the living costs for Australians seeking either a modest or a comfortable retirement lifestyle. The Retirement Standard was first published back in 2004. Considering increases in living costs due to inflation, these quarterly results provide...
Extension of the temporary reduction in pension minimum drawdown rates
The Government has announced an extension of the temporary reduction in superannuation minimum drawdown rates for a further year to 30 June 2022. While not everyone will be in a position to do this, it may be helpful for retirees who want to conserve their assets and don’t require all of...
Rates remain on hold
The Reserve Bank of Australia kept official interest rates on hold at its September meeting this week. The cash rate remains at the historic low of 0.25%. RBA governor Philip Lowe said they had decided to increase the size of its funding facility and extend its availability until late June...
Employers granted one-off super amnesty
Employers who have underpaid their staff superannuation have been granted a one-off amnesty to make things right, but that doesn’t mean they’re completely ‘off the hook’. The Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019, which just passed federal parliament, encourages employers to come forward and pay any unpaid superannuation in...