Category: general-advice-and-information

Consolidating superannuation accounts can be a smart financial move for many individuals. It can help simplify your finances, reduce fees, and potentially increase your retirement savings. If you have multiple super accounts, consolidating them into one account can make it easier to keep track of your investments and ensure that your money is working as…

A binding death benefit nomination is a crucial aspect of estate planning that allows you to specify who will receive your superannuation benefits in the event of your death. This nomination ensures that your super fund trustee follows your wishes and distributes your benefits according to your instructions. Understanding the ins and outs of binding…

Recruitment agencies have become a popular choice for both job seekers and employers in today’s competitive job market. These agencies act as intermediaries between companies looking to hire new talent and individuals searching for job opportunities. But are recruitment agencies really worth it? Do they provide any significant advantages over traditional job search methods? In…

Salary sacrifice is a popular employee benefit that allows individuals to give up a portion of their salary in exchange for non-cash benefits. While this arrangement can be advantageous for both employees and employers, it also comes with its fair share of disadvantages. In this article, we will explore some of the drawbacks of salary…

Franking credits are a unique aspect of the Australian tax system that often confuses investors and taxpayers. In simple terms, franking credits are tax credits that are attached to dividends paid by Australian companies. These credits are designed to prevent double taxation of company profits and provide relief to shareholders who receive these dividends. The…

Investing for retirement is a crucial aspect of financial planning. One strategy that individuals often use to maximize their retirement savings is the re-contribution strategy. This strategy involves withdrawing funds from a retirement account, such as a 401(k) or an Individual Retirement Account (IRA), and then redepositing those funds back into the same account or…

When it comes to planning for retirement, one of the key considerations is how to generate a steady income stream that will support you throughout your golden years. One option that has gained popularity in recent years is the rebateable super income stream. This innovative financial product offers a range of benefits for retirees, providing…

The First Home Buyer Super Saver Scheme is a government initiative in Australia aimed at helping individuals save for their first home. This scheme allows first-time home buyers to make voluntary contributions to their superannuation fund, which can then be withdrawn to purchase their first home. It is designed to assist individuals in saving for…

When an employee decides to leave their current job and move on to new opportunities, they are often required to serve a notice period as per their employment contract. During this notice period, the employee is still considered an active member of the organization but is in the process of transitioning out. In the context…

The Australian Taxation Office (ATO) Residency Tool is a valuable resource for individuals looking to determine their tax residency status in Australia. This tool can help individuals understand whether they are considered residents or non-residents for tax purposes, which can have significant implications on their tax obligations. In this article, we will explore the ATO…