The Morrison Government’s mind-bogglingly large support packages to get Australians through the COVID-19 shutdown have dominated headlines, and rightly so. Only months ago, the Australian economy was in relatively good shape and headed for a Budget surplus. It’s not just the Government that has swung into action. Behind the scenes, the Reserve Bank of Australia (RBA) has also pulled out... View Article
A key part of the government’s economic response to the coronavirus is to support business investment and cashflow by increasing the instant asset write off threshold and eligibility rules. But while the instant asset write-off has been around for several years, many small businesses haven’t taken advantage of them. So what is the instant asset write-off (IAW) and how can it help... View Article
If you’re wondering how you will manage the enormous business challenges presented by the COVID-19 crisis, the Australian Government has announced unprecedented assistance to help businesses of all sizes manage their cashflow and retain their employees. In a $130 billion assistance package announced on 30 March 2020, the government rolled out a six-month wage subsidy scheme designed to help employers... View Article
In a rapidly evolving response to the spread of COVID-19, the Federal Government’s second support package announced over the weekend has flicked the switch to more income support for retirees and workers. Between the first $17.6 billion package announced on March 12, and this latest $66.1 billion package, the emphasis has shifted from stimulus aimed at keeping businesses up and... View Article
With interest rates at historic lows and likely to stay that way for some time, retirees and other investors who depend on income from their investments are on the lookout for a decent yield. Income from all the usual sources, such as term deposits and other fixed interest investments, have slowed to trickle. Which is why many investors are turning... View Article
The summer bushfires have touched the lives of all Australians, unleashing an outpouring of generosity. But for individuals who lost homes, businesses or livelihoods, the financial hardship lingers, prompting many to ask whether they can dip into their super to tide them over. The short answer is generally no. According to the Australian Taxation Office (ATO), there are very limited circumstances where... View Article
With the average Australian wedding costing over $65,000, is it more financially savvy to say ‘I do’ or ‘I don’t’ to a big-budget wedding? When it comes to planning a wedding, every couple has their dream day in mind, which often includes extravagant flowers, a swanky venue, custom-made wedding attire, unlimited alcohol, vintage wedding cars and the list goes on. While... View Article
$2.2 trillion. That’s how much Australian households owe right now, according to the latest ABS stats.i Household liabilities grew by $1.2 billion in the last quarter alone. Real household debt per person has risen steadily by around 2 per cent per year, and now sits at around $79,000 per person.ii Sound scary? The good news is, there are ways you and... View Article
Everyone has goals they want to reach, whether they relate to work, family, lifestyle, or sport. But it seems like only a few people achieve what they set out to do. For the rest of us, success is always just out of reach. It’s got to the point where we joke with our friends and co-workers about how we’d be... View Article