New COVID Support from Federal and NSW Government On 13 July 2021, the Federal and NSW Governments announced extra support for NSW residents impacted by the latest Sydney lockdown.  Here is a summary of the support now on offer: Federal support - Covid-19 Disaster Payment a payment of up to $600 per week (up from the previous $500) for individuals impacted by Covid lockdowns. The full $600 payment is for workers who have lost more than 20 hours of work per week.  ...

Investing in recovery In his third and possibly last Budget before the next federal election, Treasurer Josh Frydenberg is counting on a new wave of spending to ensure Australia's economic recovery maintains its momentum. As expected, the focus is on jobs and major new spending on support for aged care, women and first-home buyers with some superannuation sweeteners for good measure. With the emphasis on spending, balancing the Budget has been put on the back burner until employme...

How Financial Advice can pay good dividends during tough times In a period of market instability due to COVID and low interest rates, many investors are struggling to know where to invest.  For those at or nearing retirement, the struggle is even greater.  Cash and term deposits used to be considered a safe haven, but with interest rates at historical lows, more investors are being pushed to consider alternative investments. It may be tempting to jump on the latest trending in...

Getting Retirement Plans Back on Track After a year when even the best laid plans have been put on hold due to COVID-19, people who were planning to retire soon may be having second thoughts. You may be concerned about a drop in your super balance, insecure work, or an uncertain investment outlook. Whatever your circumstances, a financial tune-up may be required to get your retirement plans back on track. You may even find you're in better financial shape than you feared, but you wo...

ATO Alert - COVID Affecting Car Fringe Benefits The ATO is warning employers to take care to avoid unnecessary FBT for car fringe benefits provided to employees. As a result of the COVID lockdown earlier this year, many employees have been working from home at a far greater rate.  If these employees have had the use of a car provided by their employer, the employer will need to check how they are calculating their fringe benefits, to avoid unnecessary FBT. With working from home beco...