13Nov

Key home loan repayment considerations

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When it comes to home-ownership, for most of us this is achieved through saving a deposit and funding the balance via a home loan from a lending institution (e.g. bank, building society or credit union). Importantly, while the loan can help us with entering the housing market, it’s vital to remember that this will most […]

13Nov

Super re-contribution strategy explained

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In our animation, ‘Super lump sum withdrawals’, we discussed that super benefits may comprise of two components: a tax-free and taxable* (taxed element) component. *A taxable (untaxed element) component can exist in certain circumstances, such as in an untaxed scheme (e.g. government super fund). The tax-free component generally consists of non-concessional contributions. Whereas, the taxable […]

13Nov

Taxation update: Personal Income Tax Plan

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As part of the Government’s aim at supporting economic recovery and creating jobs, some of the proposed measures announced in the recent 2020-21 Federal Budget, centred on changes to individual taxation. These changes involved several amendments to the previously legislated Personal Income Tax Plan. Importantly, a Bill* including these changes recently passed through parliament and […]