Q. Securing an affordable and comfortable Aged Care facility for your elderly loved one’s needs

Q. My father is 86 and a widower, he recently had a fall and cannot care for himself. He needs to make the move to an Aged Care facility. The cost of various facilities varies markedly, our preferred option has a deposit of $500,000 and care fees of around $26,000 a year. My dad has […]

What is the difference between owning insurance inside and outside of Superannuation?

Q . I have read that I should always hold my life insurance inside Superannuation.  Why is this and what is the difference between owning insurance inside and outside of Super? I have Death and Total Permanent Disability insurance provided by my Employer via my Superannuation fund.  I am 38 single with no kids.  On […]

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; […]

Q. Can I claim my Financial Planning Advice cost as a tax deduction?

Q. When I engage my accountant to do my tax returns I am able to claim a tax deduction for the work provided.  I have been advised that the same is not true for Financial Planning advice.  Can you please explain what I can and cannot claim as a tax deduction in relation to receiving Financial […]

Federal Budget 2017 Key announcement

Federal Treasurer, Scott Morrison handed down the 2017/18 Budget last night In summary, from a Financial Planning perspective, the following key announcements were made: A person over age 65 will be able to make a contribution to Superannuation of up to $300,000 from the sale of their home owned for 10 years or more. This […]

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, […]

Super Trust Deed Changes

Q: The trust deed for my Self-Managed Superannuation Fund (SMSF) has not been updated since I opened the fund in March 2008. With the super changes coming into effect on 1 July 2017, do I need to update it? A: If you have not updated the Trust Deed (“the deed”) since the fund was established, […]

Are you better off in cancelling your Private Health Insurance?

Q. We have just been advised by our Private Health fund that our premiums are going up by more than $300 a year to around $6000 effective 1 April.  We are seriously considering cancelling the cover as we don’t see value in the ever increasing expense of cover.  We have two teenage children.  My wife […]

Reduction in Concessional Cap

Q:  Should I be worried about the reduction in the amount that I can put into super from 1 July 2017. I am currently age 44 and earning $140,000 per annum. I am currently focused on educating my children and repaying my mortgage. I expect to have the capacity to place funds into super in […]

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 […]