Episode 50: How to protect the bank of Mum and Dad
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “How to protect the bank of Mum and Dad”
Our goal with 3 Minute Tech is to provide quick and to the point videos to explain sometimes technically challenging financial topics in simple and easy to understand language.
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “How to protect the bank of Mum and Dad”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “Downsizer Super Contributions”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “Dividend Reinvestment Plans (DRPs)”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “How much Super should you have?”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “Franking Credits”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “How can you save your children tax when inheriting your Super?”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “EOFY – What you need to know!”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “What are the tax consequences when inheriting Super?”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “What happens to your Super on death?”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “Your Questions Answered”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “What financial advice would you give your 18 year old self?”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “What would you do if you won Lotto?”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “Paid Parental Leave”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “Converting your Super into an income stream”
Making complicated concepts and terms, simple. In this episode, 3 Minute Tech covers the topic of “Your Questions Answered”
An overview paper written on a particular financial topic.
After sustained industry pushback, the Government has reshaped its Better Targeted Superannuation Concessions (BTSC) policy to remove the controversial tax on unrealised gains. From 1 July 2026, BTSC will apply only to realised earnings, introduce a two-tier framework for very large balances, and index the $3m and $10m thresholds to CPI (aligned with Transfer Balance…
After being frozen for five years, the Centrelink deeming rates recently rose on 20 September Deeming rates are used to work out income from financial assets, thereby providing administrative ease in the application of the income means test. The process assumes that certain financial assets earn a set rate of income, rather than considering what…
Concessional super contributions (also known as before-tax contributions) include employer super guarantee (SG), salary sacrifice amounts and personal tax-deductible contributions. Concessional contributions are presently subject to a limit of $30,000 per financial year, taxable to the super fund at 15%. Prior to July 2018, concessional contributions were subject to a ‘use it or lose it’…
A spouse contribution, when related to a contribution tax offset, is a way to boost a spouse’s super whilst managing tax. These contributions can also help address situations where one partner may have a lower super balance due to leave or reduced working hours.
The End of Financial Year (EOFY) is once again fast approaching – providing an opportunity to review your position ahead of the new year to come. Given the inevitable June end rush, as well as processing and cut-off times, we believe it prudent to consider important actions in advance of deadlines. The following is an…
The maximum balance a superannuation member can move into the tax-free retirement (pension) phase is presently $1.9 million. This is due to a limit introduced in 2017 known as the Transfer Balance Cap (TBC). Indexation of the general TBC to $2 million will occur on 1 July 2025. We explore some of the implications below.
A testamentary trust is a type of trust that is created through a person’s Will and takes effect upon death. Depending on your financial circumstances, this structure can provide the beneficiaries certain advantages in addition to an inheritance
Due to changes implemented in 2017 to limit the tax benefits of a transition to retirement pension, this strategy has received less attention in recent years. However, it remains a strategy that can assist those who have reached their ‘preservation age’ to have access to superannuation benefits without the requirement to leave a job or…
The Commonwealth Seniors Health Card (CSHC) is a federal government concession for self-funded retirees, allowing access to cheaper health care and other discounts. The card is income tested and valid for a 2 year period once granted.
Legislation enabling super to be paid on Commonwealth funded Paid Parental Leave has now passed. First announced earlier in the year (2024), the payment of superannuation aims to assist in reducing the impact of parental leave on retirement outcomes. This additional initiative expands on the improved Paid Parental Leave scheme and is summarised below.
Back in 2018 the government introduced the ‘Downsizer Contribution’ to enable home owners to contribute up to $300,000 into superannuation following the sale of their residence. This was originally subject to a minimum eligibility age of 65, however over time this condition has been reduced to age 55. Accordingly, given the opportunity available, according to…
The total value of the superannuation pool has been growing significantly. With this comes a typical question covered in financial advice circles; ‘How does my superannuation get paid in the event of death’. A common misconception is that a will automatically deals with an individual’s superannuation assets. So how can you ensure that your retirement…
High income earners will be familiar with the somewhat dreaded ‘Division 293 tax’. However, Division 293 tax does not only apply to those people who derive substantial income from employment or self-employment. The additional tax bill can crop up as a result of taxable income from other sources, including investment income, capital gains and other…
With 2023/24 done and dusted and the new financial year upon us, it is a great time to review and kick start some financials goals. The new financial year brings income tax cuts under the rollout of the revised Stage 3 plan. In addition, the concessional and non-concessional contribution caps have lifted. However, how can…
The 30th of June is fast approaching. However, as we have yet to reach the end of the financial year, it’s not too late to think about generating some additional tax deductions for the 2023/24 year. If you expect your marginal tax rate to reduce from July 2024 as a result of the stage 3…
This is our monthly newsletter providing a market and economic conditions update and other news.
In this “Monthly Musings” for the month of November we will provide a Market and Economic Conditions Update, release a brand new episode of our short video series 3 Minute Tech titled “Dividend Reinvestment Plans (DRPs)”, look back at an important insight in our Focal Point section on “Testamentary Trusts”, and showcase a brand new episode of our “Finding the Front”…
In this “Monthly Musings” for the month of October we will provide a Market and Economic Conditions Update, release a brand new episode of our short video series 3 Minute Tech titled “How much Super should you have?”, present an overview in our Focal Point section on “Better Targeted Super Concessions (Div. 296 Tax) Update”,…
In this “Monthly Musings” for the month of September we will provide a Market and Economic Conditions Update, release a brand new episode of our short video series 3 Minute Tech titled “Franking Credits”, present an overview in our Focal Point section on “Deeming Rate Changes”, and showcase two flashback episodes of our “Finding the Front” podcast. The first featuring Elizabeth Gaines, Non-Executive Director and Global Ambassador of Fortescue…
In this “Monthly Musings” for the month of August we will provide a Market & Economic Conditions Update, release a brand new episode of our short video series 3 Minute Tech titled “How can you save your children tax when inheriting your Super?”, look back at an important insight in our Focal Point section on “Advance Health Directive &…
In this “Monthly Musings” for the month of July we will provide a Market & Economic Conditions Update, re-visit the popular episode 36 of our short video series 3 Minute Tech titled “Your Questions Answered”, present an overview in our Focal Point section on “Using Carry Forward Concessional Contributions”, and showcase a brand new episode of our “Finding the Front” podcast with…
In this “Monthly Musings” for the month of June we will provide a Market & Economic Conditions Update, release a brand new episode of our short video series 3 Minute Tech titled “What are the tax consequences when inheriting Super?”, look back at an important insight in our Focal Point section on “Binding Death Benefit…
In this “Monthly Musings” for the month of May we will provide a Market & Economic Conditions Update, showcase our “Commission for a Cause” day happening today, release a brand new episode of our short video series 3 Minute Tech titled “EOFY-What you need to know!”, provide an important insight in our Focal Point section on “Spouse Contributions”, and…
In this “Monthly Musings” for the month of April we will provide a Market & Economic Conditions Update, release a brand new episode of our short video series 3 Minute Tech titled “What happens to your super on death?”, with June 30 approaching, provide an important insight in our Focal Point section with an “End of Financial Year Checklist”,…
In this “Monthly Musings” for the month of March we will provide a Market & Economic Conditions Update, re-visit the popular Episode 27 of our short video series 3 Minute Tech titled “Capital Gains Tax”, look back at our important overview in our Focal Point section on “Enduring Power of Attorney”, and showcase three brand new, exciting episodes of our “Finding…
In this “Monthly Musings” for the month of February we will provide a Market & Economic Conditions Update, re-visit the popular Episode 28 of our short video series 3 Minute Tech titled “Small Business Capital Gains Tax Concessions”, present an overview in our Focal Point section on “General Transfer Balance Cap”, and showcase two flashback episodes of our “Finding the Front” podcast. The…
In this “Monthly Musings” for the month of December we will provide a brief Market Update for the month, introduce a brand new episode of our short video series 3 Minute Tech titled “Your Questions Answered”, present an overview in our Focal Point section on “Transition to Retirement Income Streams (TRIS)”, and release two fantastic…
In this “Monthly Musings” for the month of November we will provide our Market and Economic Conditions Update for the month, introduce a brand new episode of our short video series 3 Minute Tech titled “What Financial Advice would you give your 18 year old self?”, present an overview in our Focal Point section on “Commonwealth Seniors…
In this “Monthly Musings” for the month of October we will provide our Market and Economic Conditions Update for the month, introduce a brand new episode of our short video series 3 Minute Tech titled “What would you do if you won Lotto?”, present an overview in our Focal Point section on “Super on Paid Parental Leave”,…
On 15 October 2024, the Australian Securities and Investment Commission (ASIC) released the following article. We believe it is important that all of our clients understand the increased risk of scams and fraud and the potential impact.
In this “Monthly Musings” for the month of September we will provide our Market and Economic Conditions Update for the month, introduce a brand new episode of our short video series 3 Minute Tech titled “Paid Parental Leave”, present an overview in our Focal Point section on “Downsizer Contributions”, and, feature a brand new episode of our “Finding the…