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Cost of living pressures, inflation and interest rates were major concerns in the lead-up to the May federal election. The Reserve Bank of Australia (RBA) lifted the cash rate for the first time in over 11 years from 0.1% to 0.35%, as inflation hit 5.1%. This followed the US Federal Reserve’s decision to lift rates by 50 basis points, the biggest rate hike in 22 years as inflation hit 8.5%.
Read MoreA series of reforms and changes will commence on 1 July 2022.
Read MoreThere are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym membership isn’t available to most people. And yes, the Tax Office has heard all the arguments before about how keeping fit reduces sickness and therefore is important to earning an income, and ‘…the way I look is important to my job’.
Read MoreThe Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022. This has caused a reduction in fuel tax credit rates.
Read MoreIt’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the deduction.
Read MoreThe economic event that overshadowed all others in April was the increase in inflation. The release of the March quarter Consumer Price Index (CPI) showed inflation up 2.1% in the quarter and 5.1% on an annual basis. This was the biggest increase since 2001 and well above the Reserve Bank’s target of 2-3%.
Read MoreTrying to time investment markets is difficult if not impossible at the best of times, let alone now. The war in Ukraine, rising inflation and interest rates and an upcoming federal election have all added to market uncertainty and volatility.
Read MoreSuccession planning can be difficult at the best of times without dealing with the added pressures farmers have recently faced with droughts, fires and floods.
Read MoreThe phrase 'no man is an island' is from a poem written by John Donne and expresses the idea that humans need to be part of a community to thrive. That’s certainly true, by nature we are social creatures and connection is a core human need. So why do some many of us feel alone and what can we do to feel more connected?
Read MoreThe war in Ukraine added a major new source of uncertainty to the local and global economic outlook in March. Inflationary pressure continued as global economies recover from the pandemic and as crude oil prices surged due to economic sanctions against Russia.
Read MoreAustralia’s superannuation system is based on individual accounts, with men and women treated equally. But that’s where equality ends. It’s a simple fact that women generally retire with much less super than men.
Read MoreThere is a saying ‘a fool and his money are often parted’ but with scammers becoming ever more devious and sophisticated in their methods, it pays for everyone to be aware of the latest tricks being employed.
Read MoreWith all eyes on the Federal Budget and balancing the nation’s books, it’s a good time to review your personal balance sheet. If it’s not as healthy as you would like, perhaps it’s time to do a little budget repair of your own.
Read MoreWelcome to the EGU summary of the 2022-23 Budget, which we’ve named ‘Don’t Rock The Boat’.
Read MoreSmall businesses, primary producers and non-profit organisations in the defined disaster areas who were directly impacted by the recent South East Queensland Rainfall and Flooding, 22 February - 7 March 2022 may now apply for Extraordinary Disaster Assistance Recovery Grants.
Read MoreRussia’s invasion of Ukraine in late February increased volatility on global financial markets and fuelled uncertainty about the pace of global economic recovery.
Read MoreIf it’s been a while since you had that wonderful feeling of euphoria, there are measures you can take to elevate your mood by encouraging production of your bodies naturally occurring ‘happy hormones’.
Read MoreIt seems like June 30 rolls around quicker every year, so why wait until the last minute to get your finances in order?
Read MoreIt’s been a rocky start to the year on world markets but that doesn’t mean you should hit the panic button. Staying the course is generally the best course, but that’s easier said than done when there’s a big market fall.
Read MoreAs the nation drifts back to work after the summer break, it’s often a time to start putting your New Year’s resolutions into practice. For some, an extended holiday may have convinced you that you are ready for more of the good life and that it’s time to retire.
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