Key Superannuation Changes for 2024/25 Financial Year
Happy New Financial Year! Australia's superannuation system will see several changes in the 2024/25 financial year. The Superannuation Guarantee rate will increase to 11.5%, and both concessional and non-concessional contribution caps will rise. Some proposed changes, such as superannuation on paid parental leave and modifications to tax rates for high balances, are under consideration. Understanding these updates is important for effective financial planning.
Newsletter – June 2024
In June, the ASX 200 demonstrated resilience, while the S&P 500 in the US reached new all-time highs before experiencing a slight decline. The residential property market continued to show strength, with capital cities leading growth. Sydney saw a monthly increase in property values, while Brisbane outperformed with a significant annual growth rate. The RBA maintained the cash rate, balancing concerns over persistent inflation, which stood above the target range. The overall economic context indicated slowing growth, with the first quarter recording minimal growth and a slight uptick in unemployment.
Investment Review and Rebalancing
Learn the importance of reviewing and rebalancing your investment portfolio to align with your financial goals and risk tolerance and prepare for the upcoming financial year with confidence.
Key End-of-Financial-Year Tax Tips!
Learn effective strategies to maximise your tax return, including claiming all eligible deductions, understanding home office expense claims, obtaining a depreciation report for investment properties, lodging your return early for refunds, and timing your bonus income.
Give Your Super a Boost before 30 June!
Discover how to boost your retirement savings and lower your tax bill with superannuation strategies, including understanding contribution caps, catch-up contributions, government co-contributions, and spouse contributions.
Newsletter – May 2024
This month both the Australian and US share markets are trending upward, as indicated by the ASX 200 and S&P 500 indices. The residential property market has also displayed strength in consistent value growth in most capital cities, except for Melbourne. There have been mixed reactions from economists regarding the recently announced federal budget and its potential impact on inflation and interest rates. Read on to find out more.
When Is the Best Time to Retire and How?
Deciding when to retire is one of the most significant financial decisions you'll make. The right time to retire varies for everyone, influenced by personal circumstances, financial readiness, and lifestyle goals. Here, we'll explore key considerations for determining the best time to retire and how to prepare for a comfortable and fulfilling retirement.
The 2024-25 Federal Budget
The 2024-25 Federal Budget forecasts a surplus of $9.3 billion for 2023-24, with projected deficits in the subsequent years, specifically $28.3 billion next year. With its mix of immediate relief and strategic investments, the Budget aims to balance short-term economic pressures with sustainable growth. We’ll take a closer look at some of the specific announcements made in this Budget.