Super contribution caps 2023-24

Key takeaways: An understanding of the distinction between concessional (before-tax) and non-concessional (after-tax) super contributions, and the rules governing each. Tips to maximise your super contributions whilst remaining within the cap limits, such as spouse contributions and salary sacrificing. The government encourages us to contribute to our super by offering tax benefits. However, there are … Read more

How will you use your super?

We spend decades watching our super balances grow but for those thinking about retirement in the next few years, it can be confusing to work out how best to use your super. Here are some of the considerations for the popular options. Easing into retirement You can keep working and receive regular payments from your … Read more

Are you retirement ready? Six tips for retirement wellbeing

Key takeaways The key steps in planning early for retirement, such as maximising super, exploring alternative revenue streams, and budgeting. Why and how to prioritise health and wellness. Why having a daily schedule shouldn’t stop once you retire.  Retirement is one of the most significant milestones in our lives, representing the culmination of years of … Read more

Manage the cost of living

Here are some quick ways to reduce your living costs. Having a money plan helps you stay on top of your spending and bills. There’s also free support and services to go to if you’re feeling overwhelmed. If you’re in crisis and struggling to pay for essentials, there are services to help you with food, … Read more

Weighing up whether to renovate or sell

It’s easy to be inspired by the super-profitable renovations and dream rebuilds we see on TV. In real life, the picture can be a little different. The key to achieving your particular dream home is to arm yourself with the comparative costs for both selling and buying, and renovating, with a clear understanding of what’s … Read more

Helping your parents financially while saving for retirement

Key takeaways Having access to their financial information will give you a better understanding about their situation Healthcare costs are becoming increasingly onerous so it’s worth reviewing your parents’ private health insurance It’s an admirable thing to help your parents but be clear about what that help consists of. Many people are finding themselves in … Read more

2023 Year in Review

Australia’s economy stubbornly defied predictions during 2023, dashing any hopes that we might begin to return to some kind of normal. Some had expected an end to the Reserve Bank’s continued cash rate rises during the year. Instead, inflation has been a stubborn foe and we saw five rate rises, adding another 1.25%. But there … Read more

Are super contributions tax deductible?

Key takeaways Personal super contributions—those made from money you’ve already paid tax on such as savings or your take-home pay—may be tax deductible Making personal tax-deductible contributions may be a great way to offset capital gains you make on assets that are held outside super Generally, these contributions are capped at $27,500 per financial year. If … Read more

The upfront costs of buying a home

When saving for your first (or next) home, it’s common to focus on building up the deposit and servicing your upcoming home loan. However, there are other upfront costs when buying a home that you should be aware of from the get-go. With it being particularly challenging these days to get your foot onto the … Read more

How to increase your IQ for later in life

Key points: Dr Vincent Candrawinata founded Renovatio Bioscience in 2016 following antioxidant research at the University of Newcastle Dr Candrawinata is among many researchers who believe that a person’s intelligence quotient, commonly referred to as IQ, can be increased — instead of simply remaining static throughout life As a lauded expert in the field of … Read more