Whether setting up a Self-Managed Super Fund (SMSF) is worthwhile depends on several factors, including your financial situation, investment goals, and ability to manage the fund effectively. Here are some key points to consider:Advantages of Setting Up an SMSFInvestment Control and Flexibility:SMSFs offer a wide range of investment options, including direct property, international shares, and … Continued
As a tradie, you likely started your business as a sole trader—simple, cost-effective, and easy to manage. But as your business grows, so do your responsibilities, risks, and opportunities. The structure that once served you well might now be limiting your growth, exposing you to unnecessary risks, or costing you more than it should.So, how … Continued
Finally! Some Relief: What the Latest Interest Rate Cut Means for YouThe Reserve Bank of Australia (RBA) has just announced a 0.25% reduction in the official cash rate, bringing it down to 4.10%. This move comes as inflation eases into the RBA’s target range of 2-3%, offering potential relief for borrowers and a boost to … Continued
Tax planning is essential to ensuring that your business minimises its tax liabilities and maximises the benefits that can be accrued. It also helps your business remain compliant with relevant regulations and tax laws, while also reducing the stress involved with managing your tax obligations during tax season.This is why, every year, Judge Accountants provides … Continued
Building a successful property investment portfolio requires careful planning and expertise. While property investing in Australia is popular, it’s not without its challenges. To navigate the complexities and maximise your returns, assembling a knowledgeable team is crucial. Here are the key experts you should include. 1. Accountant and/or Financial Adviser: These professionals help you manage … Continued
You have probably heard the recent Labour announcement earlier this week of significant changes to super that may impact you. On 28th February 2023, the government announced that from 1st July 2025 a 30% concessional tax rate will be applied to future earnings for superannuation balances above $3 million. As of yet, this cap has … Continued
Are you one of more than 800,000 Australians who have opted to defer repaying your home loan due to the COVID-19 pandemic? The deadline to resume mortgage payments is fast approaching. Your lender may have contacted you to ask if you are able to recommence paying your loan at the end of the six-month deferral … Continued
You may have heard about the new Government HomeBuilder Stimulus package and be wondering if you could benefit? HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new … Continued
The Government has announced a second round of stimulus that is significantly larger than what was proposed two weeks ago, to assist businesses through the economic shocks of COVID-19. The measures currently in place are as follows: Boosting Cash Flow for Employers This stimulus measure has been enhanced with eligible businesses now able to receive … Continued
There are a number of factors that determine the cost of an insurance policy. A cheap life insurance or income protection insurance policy doesn’t necessarily mean it’s an inferior one, and by the same token, the most expensive policy may not be the best to suit your needs. The price of an insurance policy is … Continued
What is Critical Illness cover? Critical Illness cover provides a lump sum payment if you’re diagnosed with a life-changing or terminal disease. It is then up to you to choose how you use this payment – to cover medical expenses, the cost of being unable to work, or to pay your household bills. Why is … Continued
Covered at every age Do you still have the same haircut you had when you were in school? Is your breakfast choice based on which cereal box has the coolest mascots on it? Are you still wearing your high school jumper to the gym? If your answer to any of these questions was a horrified … Continued
When it comes to protecting your family, knowledge is not just power – it’s security. You have a choice when it comes to paying premiums: stepped or level. But what does that mean and which one is right for you? There is no one-size-fits-all answer as both policies will be suitable for different types of … Continued
Risk is inherent in investing and there is no one size fits all approach to managing and dealing with risk. What keeps you awake at night might be well within someone else’s comfort level. The central principal of investing is the higher the risk of a particular investment, the higher the possible return. Of course … Continued
There are over two million self-employed Australians in the workforce today. Running your own business can be rewarding in many ways. However, without the safety nets and security offered by larger corporations, it’s important to consider financial protection as part of essential business planning. When small business owners think about their insurance needs, they immediately … Continued
What items do you need to organise before attending a loan appointment? Most lenders tend to have similar processes to enable assessing client’s loan applications. As a result, leads to similar original documents being proved to enable the loan application process is not stalled, once lodged. The following lists are a starting guide for gathering … Continued
Banks are everywhere.. Why not go straight to a bank? Of course, you can go to a bank, but this can be more difficult than it sounds. Australia is indeed the lucky country. We are blessed for choice when it comes to the amount of competition that exists across the mortgage market. With so many … Continued
Owners of income producing properties are eligible to claim tax deductions for a number of expenses involved in holding a property. Most investors are aware of some of the deductions they are entitled to; for example, they know they can claim their Property Manager’s fees, council rates and any repairs and maintenance costs. However, all … Continued
The truth about getting a loan by an owner of a small business versus an employee Small Business is reported as the back bone and employer of so many Australians in our Cities and Regional areas. Though they do not get the same benefits employees receive in the pursuit of income analysis. Good or bad, … Continued
Sometimes it’s good to lose Many investors have thought to themselves; “if I never realise a paper loss I never really lose, I’ll just wait until the market improves and then sell my shares/fund/house”- not so fast, if you’ve ever caught yourself thinking this you may have fallen victim to what’s known as the ‘Loss … Continued
Before you retire you’re going to want to make sure you’ve everything taken care of. Here is a retirement checklist to help you plan and enjoy your retirement. Keyword(s): Retirement checklist With stark warnings that many Australians aren’t saving enough for their retirement, a proper retirement checklist could help you avoid the pitfalls and plan ahead. You’ve … Continued
Are you sick and tired of paying your rent that makes your landlord rich and does nothing for your future? Thinking of buying your first home but you don’t have the money for a home deposit yet? We have good news for you! The Australian government has announced the First Home Super Saver Scheme in … Continued
If you’re in your thirties or forties, chances are you’re juggling a career, kids, a mortgage and home improvements – yet amongst these financial responsibilities lie opportunities to get more from your money, according to Matthew McCabe* from Judge Financial Planning. “It’s common to feel stretched at this stage of life with seemingly endless bills … Continued
As the saying goes where there’s a Will there’s a way! When it comes to leaving things for your family it needs to be a smart Will, otherwise, the tax man could end up being your largest beneficiary. “Family succession planning is a strategy to control the way your estate is passed onto your beneficiaries … Continued