News

Read the latest Australian Finance, Banking and Business news, updates and reports.

  • Managing your finances after divorce or separation

    Until death do us part” …may not always be the case for some couples who tie the knot. While there were just under 50,000 divorces in Australia in 20181, over the long-term, it’s been found that many divorced people end up disadvantaged compared to their still-married counterparts.2 Divorce can be tough emotionally and financially. So, what can you do to beat these odds? It’s never easy to start over but working through your financial situation soon after your relationship ends may help you plan the next stage of your life and move forward with more confidence.  Gather financial documents You’ll…

  • A program to enhance super transparency

    Superannuation fund members have experienced a rollercoaster ride this year as extreme volatility on financial markets has seen investment returns rise and fall, often quite acutely, on an ongoing basis. The sharp falls on markets in the first quarter of 2020 eroded the gains made by many super fund members over the preceding nine months, resulting in negative returns for some by the end of June. Then, since the start of the latest financial year, super investment returns have largely been on an upwards trajectory, despite being regularly punctuated by bouts of volatility. Comparing super returns In such volatile conditions…

  • How life insurance works

    Life insurance can help protect you and your loved ones financially if something unexpected happens. What life insurance covers Different life insurance products are designed to protect you from different events that can occur: life cover — pays a lump sum when you die total and permanent disability (TPD) insurance — pays a lump sum to help with rehabilitation and living costs trauma insurance — covers you if you’re diagnosed with a major illness income protection insurance — pays some of your income if you can’t work due to illness or injury What to check before you buy life insurance Before buying, renewing or…

  • Is investing in bonds safe?

    To no one’s surprise, there has been renewed interest in government bonds in recent months, considered safe havens during troubled times. While no investment is completely risk-free, in comparison to other investment options likes shares and property, government bonds are regarded as one of the safer investment types in the market, second only to cash at the less-risky end of the risk spectrum. How bonds work Bonds operate in a similar way to taking out a home loan — the difference is you’re the lender rather than the borrower. When buying bonds, such as those issued by the Australian or…

  • Retirement income and tax

    How much tax you pay on retirement income depends on your age and the type of income stream. For most people, an income stream from superannuation will be tax-free from age 60. How super income streams are taxed Types of super income streams Income from super can be an: account-based pension — a series of regular payments from your super money annuity — a fixed income for the rest of your life or a set period of time What is taxable and what is tax-free Part of your super money is taxable, made up of: employer contributions salary sacrificed contributions personal contributions claimed…

  • Why super balances fluctuate

    Should you worry if your super balance is fluctuating? Or is it a sign that you’ve got the right long-term, growth-oriented approach to your super…. The answer depends on whether your super choices are aligned to your needs. For many Australian super investors—and there are 16 million1 of us—COVID-19 may have caused your super balance to change overnight. In this article we’ll address the reasons for this and what it means over the short and long-term. The COVID-19 crash Your 2020 super balance has bounced around because COVID-19 has forced lockdowns around the world. As the world’s economy largely depends on…

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