Good money habits are small and boring but make a big difference over time. First, figure out what you want. Are you trying to: Buy a house? Clear debt? Save for a life event such as a wedding? Create an emergency fund? Pay off your mortgage? Once you know your goal(s) and your timeline, use…
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Whether you love or hate Christmas shopping, most of us are obligated to spend thousands each year on what ultimately leads to billions of tons of landfill the following year. And it’s not just Christmas. It’s the birthday of every kid in your child’s class. Easter, Halloween, Valentines, the list goes on. Endless consumption of…
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A testamentary trust (sometimes referred to as a will trust or trust under the will) is a trust which arises upon the death of the trustor, and which is specified in his or her will. The three parties involved in a testamentary trust are: The trustor – Person who specifies that the trust is created and…
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It’s easy to overspend in the holiday season and further distance yourself from your financial goals. We have spending pressures from every angle; gifts, dinners, parties and of course travel and accommodation. After the holidays, when the financial hangover becomes apparent, we look back and wonder where it all went wrong. Stop overspending in the…
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A new strain of COVID-19, Omicron, first detected by virologists in South Africa threatens to derail the fight against the pandemic around the world and potentially the ASX and other financial markets. Will Omicron cause the ASX to crash? If Omicron proves to evade our current vaccines and is anything close to as deadly as…
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Bitcoin and other cryptocurrencies differ from traditional electronic payment systems in that they do not require a third-party intermediary such as a bank. Rather, cryptocurrencies operate through a decentralised peer-to-peer blockchain network with participants communicating directly with each other. The peer-to-peer network of participants takes the place of the third-party intermediary. Like it or not,…
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A fully maintained associate lease is an agreement where an associate of the employee (typically spouse or partner), leases a fully maintained car to the employee's employer. Under the fully maintained operating lease, the associate agrees to incur and pay for the vehicles' running costs (e.g. fuel, repairs, insurance, and registration). The employer then provides…
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British working holiday visa holders in Australia have been forced to pay a flat rate tax higher than Australian residents without the tax-free threshold. The tax has been overturned as an English backpacker took Australia to court and won the favour of our High Court. The high court made the decision because the international…
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Small adjustments to our spending habits executed over our working life can have significant impacts on our retirement wealth, regardless of how little we earn. Take Susan for example who earns $750 per week. She rents an apartment in Perth and pays $400 per week in rent. She spends $200 on food and $150 on…
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If your accountant says you can legally save tax by storing your money in places inhabited only by penguins, seals and seabirds, red alarm bells should be ringing in your head. It’s time to find a new accountant. Whilst having money in overseas accounts is not necessarily against the law, deliberately evading paying tax by…
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2