News

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

  • Setting financial goals as a couple

    Tackling financial goals together can help a couple understand each other’s priorities, develop good saving and spending habits, as well as create the kind of future that works for you both. STEP ONE: WHAT ARE YOUR FINANCIAL PAIN POINTS? When you start making plans, chances are you’ll both come across financial pain points. In other words, the areas that need some attention and possible alterations. These might include: Post-wedding or honeymoon debts. Different earning capacities. Different savings goals. Different spending habits. Disagreements you’ve had in the past. Different ideas about couples bank accounts. While it’s normal to have pain points…

  • A handy toolkit for small business

    Whether you use a registered tax agent or lodge your own tax return, it’s helpful to have information you can refer to when you want to get ready for tax time. The Tax Time 2020 toolkit is now available, and it includes a directory of links as well as several updated, and new, fact sheets for small business. The fact sheets can help you get an overview of what you need to know if you're: claiming deductions for the costs of using your home as your main place of business claiming a deduction for motor vehicle expenses for your business…

  • How to construct an effective portfolio

    Portfolio construction is always a popular topic among investors, but as markets become more volatile, the practice of carefully piecing together a jigsaw of investments that weathers both good times and bad is particularly relevant. Effective portfolio construction is essential to successful investing, but many investors struggle to understand the underlying concepts, much less put them into practice. Fortunately, constructing an investment portfolio that suits your needs and delivers your goals is simpler than it sounds. The first step to effective portfolio construction is simply knowing what you want to achieve. Every portfolio has a purpose. It might be to…

  • Why improving financial literacy could open the door to advice

    CoreData’s research over the past two decades has consistently found that at any point in time, only around one in four Australians are receiving financial advice. This is a relatively low proportion considering we have also consistently found that the value of financial advice is clear, both at a tangible and intangible level. Those who receive financial advice tend to save more than those who do not receive advice, manage their debt better, have a better-performing investment portfolio and have adequate insurance cover, to name just a few of the benefits. As a result, those who are receiving financial advice…

  • Financial Adviser and Accountant: What’s the Difference?

     When you are looking for professional advice on anything to do with money, knowing who to turn to can be challenging. Should you contact an accountant or a financial adviser or both? The two fields are vastly different in how they can help you.  What does a financial adviser do? Financial advisers (also known as financial planners) provide a range of advice to help you at different life stages. Financial advisers can help you: save for a deposit to buy your first home, manage your cash flow, develop a share or investment property portfolio, invest for your children’s future, …

  • Tax treatment of COVID-19 support payments

    For most Australians, this tax time will be unlike any other. If you’ve lost your job, had to work reduced hours due to COVID-19, or met other eligibility criteria, you may have received government assistance like JobKeeper, extra JobSeeker, or accessed some of your super early to help cover expenses. So how will this new source of income affect your tax return—and do you need to disclose it? JobKeeper payments JobKeeper payments (up to $1,500 per fortnight) will be treated the same way as wages or income. This means these payments will be taxed and must be disclosed in your…

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