Q. How does the First Home Super Saver Scheme (FHSSS) work and how to take advantage of the incentive?

Q.  My partner and I are saving to buy our first home in the next few years.  Can you please explain how the First Home Super Saver Scheme (FHSSS) announced in the 2017 Federal Budget will work and what we need to do to take advantage of the incentive? From 1 July 2018, first home […]

Q. What’s the difference between Active Portfolio Management and Passive Portfolio Management?

Q. I am considering investing into shares either through Managed Funds or Exchange Traded Funds.  Can you please explain the difference between active portfolio management and passive portfolio management?  There appears to be a huge difference in costs for each approach to investing into these funds. A.  Active portfolio management focuses on outperforming the market compared to a […]

Q. With the new financial year, my husband and I would like to take stock and focus on planning for the financial year ahead. How should we approach this?

Q. With the new financial year, my husband and I would like to take stock and focus on planning for the financial year ahead.  He is 52 and I am 50.  His income is $170,000.  I have returned to work 3 days a week and my part time income is $36,000.  We have two children; […]

Congratulations Damian Hearn – SMSF Specialist Adviser

As a practice, we believe in developing areas of specialisation as we feel that this gives our clients access to the best possible advice and services in a range of financial services.  With this in mind, we are very proud to advise that Damian Hearn has recently been accredited by the SMSF Association as a SMSF […]

Q. What is the latest date I am able to lodge my return? What are the rules around this?

Q. I am aware that June 30 is the last day of the financial year. What is the latest date I am able to lodge my return?  What are the rules around this? I hear different dates mentioned. A. Tax return due dates depends upon a range of criteria.  If you are an individual lodging your […]

Super Reforms – Fact Sheets

As you are most certainly aware, there are some Superannuation reforms which take effect on 1 July.  Depending upon your circumstances, employment status, Super balance and age you may be affected. The most important thing is that you seek advice and take action before the 30 June 2017 deadline.  There are some significant opportunities available, […]

Can I contribute into my Super the proceeds of selling a property I inherited from my mother?

Q. I am about to inherit a unit that was bought pre 1985 and was thinking of selling it and putting a one-off payment of $540,000 into super before 30 June 2017. Would I have to pay capital gains tax if the property was bought by my mother and it is transferred to my name […]

Can a member of a couple have a pension account of more than $1.6 million as long as their total combined superannuation does not exceed $3.2 million?

Q. I read that a couple can have a combined Superannuation balance of up to $3.2 million after 1 July 2017.  If one member of a couple has a pension account of say, $1 million and the other has a pension account of $2.2 million, does it therefore follow that the member with the larger […]

Should I abandon my Transition to Retirement Strategy due to Super Changes from 1 July 2017?

Q: I am age 59 and have a transition to retirement (TTR) income swap strategy in place. Will the Superannuation changes from 1 July 2017 mean the strategy becomes irrelevant and should it be abandoned? A:  A TTR strategy involves transferring your Superannuation balance into a non-commutable Account Based Pension.  Payments from this pension can […]

Have a Will and peace of mind: So what’s next?

Q: I recently updated my Will and other important legal documents. However it made me realise my financial affairs are complicated, and as my Power of Attorney, or Executors of my estate, my children may struggle to understand my whole situation. What can I do to make it easier for them? A: This is a […]