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As a professional financial planner I spend my days talking with adults about their investments, spending habits and savings plans. As a dad, something that I try to do (and often don’t succeed) is to teach my kids about money. A recent example was that I actually had cash in my wallet (you remember those plasticky things that have a 5, 10, 20, 50 or 100 on them??) and used it to pay at a supermarket. As the change came out of the self-serve machine, Miss 6’s eyes opened wide and was like “what is that?” …………. Uh ohhhh, I’ve not done my job too well in that department!! She thought that all our money was “in your phone dad”!
As a business owner, it is crucial to consider the financial implications for your business beyond your lifetime. Understanding what happens to your business when you pass away is essential for effective financial planning before and during operation to ensure a smooth transition. There are several ways our clients run their businesses, and each structure has a different outcome for estate planning.
Australia has just rolled out some new rules for buy-now-pay-later (BNPL) services. Basically, BNPL providers now have to follow stricter guidelines and do background checks before handing out these loans. The Australian Securities and Investments Commission (ASIC) will be keeping a close eye on companies like Afterpay and Zip Co, making sure they're playing by the consumer credit rules.
Following the March inflation data, Australian students who still have HELP/HECS debt, will be hit with a major increase come 1 June 2023. Whilst interest is not charged on HELP/HECS loans, the amount of the debt is adjusted on the 1st of June each year, in accordance with an annually determined inflation factor. It is based on the year-on-year CPI figure, measured quarterly up to the end of March. Therefore, the rate of indexation for 2023 will be 7.1%. This is the highest indexation rate seen in 32 years.
Do you ever have times in life where your stomach ‘knots’ and you really can’t understand why? I know I do!! In those situations, I find myself ‘processing’ the feelings/emotions with someone to work through and understand what’s going on. I often see this with clients, particularly those who are looking at retirement. It’s an anxiety/concern/uncertainty that has probably never surfaced before, as most of us only retire once.
Treasurer Jim Chalmers has proposed that from 1 July 2025, taxation on earnings from superannuation balances above $3 million will double to 30%. The new policy is expected to raise about $2 billion a year. As always, the devil is in the detail. Initially framed as a simple increase to the existing 15% tax on super fund earnings, the Treasury Consultation Paper makes it clear that this is unequivocally a new tax and will be levied against individuals in a similar way to Div. 293 tax levied on super contributions for higher income earners.
The COVID-19 pandemic has brought about significant changes in the commercial office and retail property landscape, with work-from-home and home shopping becoming the new norm across the globe. The occupancy rates of commercial properties in central business districts have been heavily impacted, with cities like Melbourne and Sydney reporting occupancies rates of 47% and 61% respectively (as of February 2023, according to Property Council members). This, combined with the sudden rise in interest rates has led to a significant increase in debt servicing costs for these properties. As a result, the valuations of large CBD offices and other commercial properties are expected to decrease in value.
Join us as we celebrate 30 years on radio with FiveAA Thursday 29th March at 3pm. Our advisers now join the fabulous Jade Robran every second Thursday at 3pm to shine a spotlight on financial planning topics and answer your questions. We are now being live-streamed via Facebook and Twitter. Follow the link on the FiveAA homepage.

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“I wish I’d known all this earlier.” It’s a phrase I regularly hear after presenting a financial plan to new clients. It’s rarely ‘too late’ but proactive planning for the future is often the biggest advantage you can harness.
The Higher Everyday Living Fee (HELF) has replaced the Extra Service Fee and Additional Service Fee as part of the new aged care rules which came into effect on 1 November 2025. The intent is to provide protection to residents purchasing additional services with their residential aged care.