Category: Retirement

Investment decision-making: avoid shortcuts

How do you go about choosing a restaurant, a new car or, or even a dishwasher? Chances are you begin by looking online at consumer ratings and asking friends for their opinions. Understandably, we look for shortcuts when making decisions and a common shortcut is to assume that past performance...

Granny flat rights

A “granny flat right” or a “granny flat interest” is where you pay for the right to live in a specific home for life. It must be a private residence and your principal home. You can have a granny flat interest in any kind of dwelling, not just those typically...

Women get frank about finance

More than half of Australian women feel in control of their finances, but many are concerned about their savings and are missing out on valuable opportunities to boost their superannuation, according to new research released by MLC. The all-female study revealed just 57% of women across the country feel in...

Your super and tax: what’s new in 2018?

Super and tax rules are always changing – providing fresh opportunities to help maximise your retirement savings. Here are two new ways you may be able to help boost your super, as well as your tax return. Good news for employees Before 1 July 2017, you could only claim a...

McKillop FP newsletter – January 2018

McKillop Financial Planning’s January 2018 newsletter – CLICK HERE  Articles on: Setting up for retirement success ThreeSixty Research Market Update: January 2018 Your rights when it comes to direct debits Technology: an adversary in the fight for 2% inflation  ...

McKillopFP newsletter – December 2017

McKillop Financial Planning’s December 2017 newsletter – CLICK HERE. Articles on: – If only I had a second chance – How to develop a “dynamic” approach to retirement spending – How to make better investment decisions – The power of extra salary sacrificed contributions to superannuation – With our heads firmly in the “The Cloud”...

McKillop FP newsletter – October 2017

McKillop Financial Planning‘s October 2017 newsletter – CLICK HERE Articles on: • Salary sacrificing superannuation • Should you downsize? • Why grey mortgage debt is rising • Life’s financial turning points: good and not so good • How jury service works  ...

McKillop FP newsletter – September 2017

McKillop Financial Planning‘s September newsletter CLICK HERE  Articles on: superannuation for young people, global shares as part of your investment portfolio, the $1 million #retirement myth and an MLC August economic update  ...

Claiming tax deductions for super contributions

Do you make personal superannuation contributions and want to claim them as a tax deduction? Following the close of the 2017 financial year, it is important to ensure that if you wish to claim a tax deduction for personal superannuation contributions made in the 2017 financial year, you lodge a Notice...

Make the most of this financial year’s super caps

Building your retirement nest egg? Make your contributions before the end of the financial year and you could potentially save more. Changes to super laws mean that from 1 July 2017, the amount of money you can contribute to your super is being reduced. So it makes sense to take...

Tax deductions for super contributions

Do you make personal superannuation contributions and want to claim them as a tax deduction? As we draw to the close of the 2017 financial year, it is important to ensure that if you wish to claim a tax deduction for personal superannuation contributions made in the 2016 financial year, you do...

2017 Federal Budget Summary

Click here to view our budget summary as at 9 May 2017 Key measures from last night’s budget include: Individuals aged 65 or older will be able to make non-concessional (after-tax) super contributions of up to $300,000 from 1 July 2018, using proceeds from the sale of the family home....

So what actually is Probate?

WHAT IS PROBATE? Probate is the process of proving that a document is a deceased person’s last Will. The named executor is responsible for obtaining Probate (if it is required) and in administering the deceased person’s estate as required by the Will. If the named executor is unwilling or unable...

Women and super: the facts

Did you know that around 90% of women end up with not enough superannuation savings to fund the lifestyle they want in retirement? In fact, the average superannuation account balance for women when they retire is around $90,000 less than the average for men.* There’s no doubt women have a...

What does an enduring guardian do?

An enduring guardian is a person appointed to make decisions about your health and lifestyle for periods in which you are incapable of making such decisions for yourself (for example if you have dementia, are in a coma, are unconscious following a car accident or suffer from some other mental...

Proposed reforms to superannuation

Proposed reforms to superannuation Here is a useful infographic summarizing the key proposals for super reform – changes to before-tax contribution caps, changes to concessional contributions tax and concessional contribution caps and pension limits… Note that the proposals are not law yet and they vary from those proposed in the...

Pre-retirees are topping up their superannuation

PRE-RETIREES ARE TOPPING UP THEIR SUPERANNUATION Almost one-third of Australians topped up their super in the last 12 months, contributing additional funds over and above employer contributions, according to MLC’s Australia Today report (August 2016). It’s a positive sign that Australians are taking proactive steps to plan for a comfortable retirement lifestyle,...